Visual perspectives for emerging markets research (work in progress)

Lyons, Standard Chartered's Chief Economist (2008) indicates emerging markets are crucial for the future health of the global economy and there are potentially huge returns for organizations appreciating these consumers. However, population data associated with developing countries are often unavailable, or lack the necessary detail for effective market segmentation. This paper provides an effective visual research framework for describing and evaluating market segments in emerging economies. Historically visual research, in a marketing context, has been overlooked as an effective tool in the researcher's arsenal. However, it is particularly helpful for enhancing understanding of consumer segments in emerging markets. This qualitative-visual research approach involves taking a cross section of over 250 households from a major Sub Saharan African capital city. The research is sponsored by Africa's Market and Social Research Association and data were collected in September 2008 by leading research agencies operating in the region (including ACNielsen, Research International and Synovate). Over 20 images were collected for each household along with other more traditional segmentation and lifestyle data. The visual data are analysed by creating a photo montage for each household, which are then ranked in terms of perceived living standard. Initial analysis reveals distinct divides, which allows households to be grouped together into broader lifestyle segments. Analysing the visually derived segments against more traditionally defined market segments will help reveal other key life quality indicators that need to be included when more traditional segmentation based approaches are applied to emerging markets. Furthermore the visual data facilitate organisations in gaining a swift and detailed overview of societal composition in an emerging economy. Visual research is therefore a valuable compliment to other more traditional approaches to market segmentation.