Online bootcamp: Market research in low-income economies

From September 15th to October 12th, Siemens Stiftung, IB Accelerator and Endeva host an online bootcamp on improving sales strategy through data.

The bootcamp includes a module on market research in low-income economies: Market research in low-income environments, like slums or remote villages, is challenging as there is little data available on informal economies, the communities are hard to reach and the cultural gaps are wide. Therefore, in the phase of identifying information gaps, businesses need to translate the questions they have into questions their target group will understand.

When planning their market research, businesses will need to find a partner who can introduce them to their target group and support them with the facilitation and documentation. It is crucial to pick the right interactive methods for research to find out about people’s perceptions and their willingness to pay. Finally, a business will need to analyze its data to make use of its work.

With the help of the step by step description in the bootcamp, businesses will be able to develop a plan for their market research. Register here to participate!

To find out more about what to expect from the module on market research, please click here.