Market Sizing & Segmentation with Frontline Research Group

Market Sizing & Segmentation

Market Sizing and Market Segmentation is key for any business preparing to enter Africa’s diverse markets. The Frontline Research Group will take you there.

Market sizing and segmentation is key to creating a solid market penetration strategy, especially where African markets are concerned – and nobody understands African markets quite like the Frontline Research Group.

There is every reason why businesses would want to enter the African markets. It is a time of growth and optimism. Consumer consumption is expected to be worth over a trillion dollars a year by 2025 aided by a growing middle class.

However, the challenge with Africa, is complexity. The continent is actually around 50 different markets – each one with its own political, social, legal, cultural and economic character.

This is where the Frontline Research Group comes in. Their market sizing and segmentation offering, is a turnkey solution meant for businesses and companies wanting to get it right, the first time, and reap big rewards for years to come.

What is Market Sizing & Segmentation?

“Market sizing can encompass many different aspects, but it essentially boils down to trying to establish the potential size of a market, in relation to customers and consumers willing to stock & purchase a specific product,” explains Vaughan Deacon, Client Relations Manager at the Frontline Research Group.

“The segmentation part delves into understanding how different market segments act, and react, to market dynamics. An example of this would be the route to market taken for a product in the formal top-end grocers, versus that same product within the informal trade.”

He adds that market sizing is key to understanding how to plan route to market strategy, including potential volumes within the markets, and the distribution of your products within the market.

“The segmentation takes into account the supply chain within each of the market segments, and the way in which each market segment can best be serviced to develop an optimal solution.”

Why must a company outsource its Market Sizing & Segmentation?

While companies will be tempted to do their own in-house market sizing and segmentation projects, Deacon cautions against this.

“Unbiased, specialised research is often key to any sort of change in company strategy. When entering a new market, it is also helpful to have insight from local experts, as well as experts in analysing available data, to provide the direction needed,” he explains.

“If no secondary data is currently available, it is also best to allow a specialist to design a sample frame that will be statistically representative of the market landscape, so that the data outputs are relevant to the specific market.”

He says Frontline occupies a unique position when it comes to market sizing and segmentation services in Africa.

“Frontline offers various levels of market sizing, from full country retail census, down to regional census, and sample census options,” Deacon describes.

“The decision of which option to take depends on the details that the client needs, to implement their strategy, the roll-out plan for this strategy, and, of course, the available budget.

“Also, due to Frontlines vast experience in conducting retail census and market sizing studies, across Africa, there is a good chance that we already have data on the country under review.

“Then, it is the analysis of the data, and the recommendations made from this analysis, that can prove crucial in how the client strategy is implemented.”

How does Frontline work with you on your Market Sizing & Segmentation projects?

Deacon says Frontline takes a long term approach, when dealing with clients looking to undertake market sizing and segmentation projects, “as these projects form only one part of a much bigger drive to success in the market”.

“Frontline looks to walk the path with the client, in bringing their products successfully to market, by offering additional services such as route to market planning, route optimisation, execution and retail tracking services, to ensure and measure the success of the project, as a whole.”

While cost is probably a factor in companies considering outsourcing market sizing & segmentation, Deacon assures that the Frontline Research Group works to ensure their clients get value for every dollar spent.

“Cost is definitely a factor, so one of the key aspects to understand is what the client plans to use the data for, and over what period of time,” he adds.

“For example, it will not be advisable to conduct a full retail census, when the client does not need exact outlet numbers, and GPS co-ordinates, but only needs an estimated number of outlets, in order to ascertain market feasibility.

“Therefore, providing too much information can be a cost inhibitor, as it takes time and manpower in order to collect the data, and the client may not be in a position to act on all the data provided.

“Here, a consultative process is adopted, in order for us to tailor the project to meet the clients’ specific needs, and also to fit their budget.”

Why choose Frontline Research Group for Market Sizing & Segmentation projects?

The Frontline Research Group has a vast footprint in Africa. Thus, the company is able to provide customised market sizing and segmentation solutions that are designed to uncover opportunities.

It takes a company that understands the intricacies of doing business in Africa’s varied markets to provide this proprietary market research.

Although the upfront costs may be unwelcome for some companies hoping to reap rewards from Africa’s growth, the investment in Route to Market solutions with the Frontline Research Africa offers guaranteed multiple payoffs in the long run.

So, let the Frontline Research Africa handle your market sizing and segmentation while you focus on what you know best – creating amazing products for your customers.

To find out more or how the company can assist you, call 041 586 2257, email info@frontlineafrica.com or visit them online at frontlineafrica.com. Alternatively, visit Clarendon Court 9 Lutman Street, Richmond Hill, Port Elizabeth, 6001.

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