African markets: A step forward for diversity
The market segmentation of African markets has made it possible for African consumers to better understand the health market, but there is still work to be done.
The markets are still largely segregated by ethnicity, gender and region.
There is still a lack of diversity in the African market, with some of the most ethnically and racially diverse markets in sub-Saharan Africa still being predominantly white.
“African markets still are predominantly white, with the vast majority of markets being predominantly Asian markets,” says Dr Srinivas Chatterjee, a research fellow in market research at the University of Bristol.
As well as the ethnic and gender barriers, there are also differences in the way the markets are governed.
For instance, some markets, such as the one in the US, require an Asian market to have been approved by the US Food and Drug Administration (FDA).
The government can only approve products that have undergone testing.
But the rules can be changed at the discretion of the FDA.
Dr Chatterji says it is important to understand the market’s diversity.
He says there are a number of things to be aware of, including the fact that many African markets are run by ethnic groups.
Ethnic minorities are often given greater responsibility for running markets.
In Africa, for example, the largest ethnic group is the Tamils, with their traditional farming methods.
Another is the Mboni people, who are a group of traders who live in the country’s south.
Other ethnic groups, such the Chittagong, are smaller traders, and have no formal control over the market.
These ethnic groups tend to control the market more often than other ethnic groups because they are more mobile and better educated, he says.
If you want to learn more about African markets, you can visit www.healthmarketsegmentation.com or contact Dr Chatterjees website.