According to research gained from McKinsey & Company, who surveyed consumers across the African continent - Africa's consumer-facing industries are expected to grow by $400 billion by 2020, representing the continent's largest business opportunity. But many companies don't know how to translate this potential into action, due to a paucity of market research. But this is rapidly changing.
The panellists at the dialogue include:
CNBC Africa anchor Samantha Loring will moderate the discussion, which will be filmed in the CNBC Africa Sandton studio in Johannesburg, South Africa.
"The Philips brand has an incredible heritage in Africa, going back over 100 years - and as leaders in innovation, we understand the importance of managing the growing demand for consumer goods throughout the continent," says Hobden. "We therefore look forward to continuing to strengthen the Philips relationship with the increasingly dynamic consumers of this developing continent."
Some of the key issues and questions that will be touched on include customer experience and the brand, analysing the behaviours and habits of the young, middle class in Africa, what is responsible marketing to this important subset? What are their influencers? What is their purchasing power? What are their priorities? The impact of digital and social media on purchasing decisions, development of the on-line retail space, how are brands innovating to serve this market? How does a MNC cater to the bottom of the urban pyramid?
The dialogue will be be broadcast on Saturday, 26 January 2013 between 6pm and 7pm (CAT) on DStv Channel 410.
