How do you segment and target the emerging and high-growth markets in Asia, Africa, and Latin America? (2024)

I say this all the time. THINK global ACT local. Having worked in the China space for 6+ years now, this is a market, globally, where thinking locally is a necessity when hoping to succeed in this international market. With Facebook, Twitter, Instagram, TikTok, YouTube, Google, Netflix, Spotify, (you get the picture), all inaccessible in China and on the Chinese app store, people rarely wonder how to succeed in marketing to 1.5B+ people globally. The answer to the above - marketing locally. WeChat, Weibo, Douyin, RED, Bilibili... Understanding and working those verticals will be instrumental in the success of your international marketing efforts to the Chinese community.

Understand the cultural intricacies and nuances -This includes language, traditions, values, beliefs, and communication styles which can significantly impact marketing strategies and messaging.Given the rapid growth of mobile technology in emerging markets, understanding mobile penetration rates, smartphone adoption, and the usage of mobile apps can be crucial for targeting the tech-savvy consumer.Understanding the popular social media channels, consumer behavior on these platforms, and influencer marketing trends.With the increasing popularity of online shopping in emerging markets, it's essential to assess the e-commerce landscape, popular platforms, payment methods, and logistics infrastructure

1. Market analysis: Conduct research to identify high-growth markets in Asia, Africa, Latin America.2. Segment identification: Define market segments based on demographics, behavior, purchasing power.3. Targeting strategy: Tailor approach to meet needs and preferences of each segment.4. Localization: Customize marketing, products to cultural, regulatory nuances of markets.5. Distribution channels: Utilize appropriate channels considering retail, e-commerce, logistics.6. Partnership opportunities: Collaborate with local businesses, distributors, influencers for market entry.

Segmenting and targeting are, pretty much simmilar, no matter the actual geographic market - you'd be looking at economic, cultural, and demographic factors. Consider:- Market research and analysis,- Cultural sensitivity and localization,- Market segmentation (demographic, geographic, behavioral, ...),- Digital-marketing,- Distribution channels,- Adaptation of product offerings (localization, availability, affordability, ...),- Government regulations and compliance,- Various market entry strategies, Brand positioning and localized marketing campaigns,- Risk management,- Customer support and service.Feel free to ask for professional assistance in the international business development.

Pour une stratégie ayant une réelle légitimité & performance, il est nécessaire de connaître et comprendre son marché cible: -Réseaux sociaux utilisés en local (Par exemple en Asie, " Line " est l'un des plus utilisés et certains pays comme la Chine ont leurs propres réseaux : Weibo, 抖音, QQ, BiliBili... en Corée du Sud, on parlera de Kakao Talk etc.) -Comprendre les caractéristiques démographiques -Comprendre les données psychographiques : Valeurs, attitudes et les styles de vie, comportements d'achats, trends locales, best practices, actions de rétention privilégiées, pouvoir d'achat, concurrence.-Comprendre les facteurs externes d'influence : tendances économiques, politiques, sociales, technologiques, environnementales et légales

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Social and Demographic Trends: Monitor demographic shifts, population growth, urbanization rates, and changing consumer preferences in the target regionsHealth and Wellness Trends: Segment your market based on health-conscious behaviors, preferences for organic or natural products, and interest in fitness and well-being offerings.Segment your market based on digital literacy, online behavior and preferences for digital engagement to tailor your marketing strategies accordinglyCultural Sensitivity: Segment your market based on cultural similarities or differences, language preferences, traditions, and values to build a rapport with local communities and establish a strong brand presence. Evaluate the supply chain resilience.

Données démographiques : Comme l'âge, le genre, la situation géographique. Données psychographiques : valeurs, les attitudes et les styles de vie.Critères comportementaux: habitudes d'achat, fidélité à une marque et le niveau d'utilisation du produit.Facteurs socio-économiques: Niveau d'éducation, profession, pouvoir d'achat.

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Demographic Diversity: Factors such as age, income levels, education, and urbanization rates can vary significantly from country to country. Tailoring your target segments to reflect these demographic differences can enhance your market penetration.Understanding and mitigating potential risks can safeguard your business interests and inform your target segment selection.Consider the scalability and growth potential of your target segments within each region. Prioritize segments that offer sustainable growth opportunities and align with your long-term business objectives.Leveraging technology trends, such as mobile usage or e-commerce platforms, can offer new opportunities for reaching and engaging with target segments effectively.

Different targeting strategies can be selected basis business goal, segmentation, market characteristics, competitive landscape etc. Differentiated: Different offering to different segments basis preferences & cost sensitivity. Ex: An automobile company entering Brazil with 2 car models targeting base segment & mid segment Concentrated: Focused targeting approach to a specific segment (considerable in size) of a market. Ex- an Organization targeting Gen-Z in Nigeria capitalizing its demographic spreadMicro Marketing: Tailor made offering targeting a very niche segment addressing unique needs like cultural, aspirational etc. need. Ex: A fashion brand entering in to Indian market targeting ultra-rich segment with personalized offering.

To effectively target emerging markets in Latin America, after understanding local consumer behaviors and preferences, you should develop a positioning strategy that taps into regional trends and cultural values, ensuring your brand resonates on a personal level. Highlight what makes your product unique, whether it’s innovation, sustainability, or a connection to local heritage. Adapt your messaging to reflect the aspirations and challenges of your audience, and consider collaborating with local influencers to build credibility and trust. This tailored approach will help your brand establish a strong foothold in the region.

Customize your brand identity, visual elements, and messaging to reflect the cultural nuances and preferences of each region. Adapting your brand image to align with local aesthetics, symbolism, and communication styles can enhance brand recognition and relevance among target customers.Consider adjusting your pricing strategies to align with local economic conditions, purchasing power, and competitive landscape in each market.Brand Messaging: Tailor your brand messaging to resonate with the local audience while maintaining a consistent brand identity across regions. Partner with local organizations, influencers, or community groups to co-create marketing campaigns that resonate with the target audience in each region.

Mettre en avant ses avantages concurrentiels distinctifs. Adapter sa communication et sa stratégie (5P) pour atteindre efficacement le public cible, en utilisant les canaux appropriés et en tenant compte des sensibilités culturelles et la démographie.être flexibilité et avoir la capacité de s'adapter rapidement aux changements du marché pour maintenir une position compétitive sur le long terme.Comprendre sa position sur son marché et son univers concurrentiel (Benchmark & Matrice de Porter + Analyse PESTEL + SWOT, Diagramme d'Ishikawa)

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Hiring local employees and leveraging their expertise can help you navigate the local business landscape more effectively. Investing in local resources, such as office space or technology, demonstrates your commitment to the region.Partnering with local businesses, influencers, or organizations can help you gain valuable insights and connections.Understanding the communication preferences and service expectations of the local audience is key to delivering a positive experience.Actively participate in local events, sponsor local initiatives, and engage with the community to showcase your commitment to the region. Providing excellent customer support in the local language and time zone can enhance your positioning strategy significantly.

Ayant vécu aux USA et en Asie (Taiwan) Le plus important est aussi de vivre et être immergé dans le marché concerné. Cela a parfois bien plus de pertinence pour adapter sa stratégie et comprendre le fonctionnement des marchés / habitudes de consommation / Sensibilité. (Privilégier un country manager présent sur place)

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To enter high growth emerging markets, some other key areas has to be considered: Logistics: Need to plan & address unique challenges related to logistics & transportation, distribution network, Route to customers (RTM) for the given market Regulatory norms: Should have understanding of local laws & regulation. And should have all the regulatory clearance before entering the marketCultural norms: Organizations should get familiar with local cultural norms, color sensitivity, symbolism etc. & should make necessary changes to its offering to respect local culture Also the market entry strategies need to be decided like exporting, piggybacking, JV, Licensing, Greenfield investment basis business goals & market dynamics.