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Economic development in Africa has the potential to create a new consumer class shortly. This latent market could be a future source of prosperity for Gain if marketed correctly.
The first analytical technique suited for this task is cluster analysis. In short, this method puts together similar variables inside a group (Green & Warren, 2020). Since Africa is a varied region, cluster analysis can assist in pinpointing regional differences and similarities. The second technique is multidimensional scaling, which has a respondent rank pair of products by analogy and is primarily used for substitutable items (Green & Warren, 2020). As Gain produces deodorant, which could still be considered a luxury good, MDS is suitable for it. The last technique is conjoint analysis, where respondents must rank combinations of features in a product (Green & Warren, 2020). Deodorant can come in various shapes (spray, roll-on, etc.) and smells, meaning conjoint analysis allows Gain to understand Africans preferences better.
Reference
Green, M. C., & Keegan, W. J. (2020). Global marketing. Upper Saddle River: Pearson.
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