4. Middle Class Market (Kenya’s Fastest Growing Market Segment)*
*Who are they*: In Kenya the middle class market comprises people who spend between Ksh.24,000 and Ksh.200,000 in a month. As you can see, this is a pretty huge market, with immense decision making power and one worth targeting.
*How to target them*: The middle class are very specific about quality. They also value good branding as they often like to be associated with popular or growing brands. Most of them spend at least 3 hours a day behind a computer meaning that you can reach them via online promotional methods such as Google and Facebook advertising.
They mostly listen to radio as they drive to and from work (or in public transport) meaning that you can also reach them via radio advertising. Door-to-door marketing is less effective with the middle class unless you operate on a referral basis i.e. “you tell a friend to tell a friend” system.
*What they like to buy*: The middle class like to buy fancy and luxurious items. They also like fast-food, electronics and average-priced cars. Things like mobile phones, electronic accessories, furniture, fast foods, affordable coffee, alcoholic drinks, domestic holidays (including wedding packages) and so forth also feature at the top of their list of top picks.
*Example of a business idea*
You can start the business of importing fancy electronics and jewelry. You can also set up a wedding planner consultancy or a limo hire business for this market.
*Final Word*
I honestly think that I have made it as easy as possible to identify your ideal target market. I hope that by knowing who would be interested in your business, you will have an easier time marketing – and probably you will even reduce your marketing cost.
All the best in everything you do.