In Latin America the word crisis is an old companion. Throughout the last decades nothing else is known than this situation. In some countries it is more evident than in others. However, no generation here knows a time that is not characterized by one conjuncture or another. Recently the COVID-19 pandemic put the world on the ropes. Today a war in Europe puts us back in a state of rationing and apprehension.
However, many of the changes that bring negative consequences to people can be predicted. In this way, it is possible to make response plans and face transformations in the best conditions. Many of those who do this task in times of calm tend to win in times of upheaval since they have the appropriate resources and processes to do so. There is a saying in the region “prevention is better than remedy”.
We may not be able to avoid hazards and disasters, but what we can do is anticipate and prepare for an emergency. Below we list three actions that can be carried out from Market Research to deal with these situations.
Monitor the environment. Although Market Research is an activity that seems to be restricted to conducting surveys or directing focus groups, it also has an area dedicated to the geopolitical, health, economic and emotional analysis of societies. Today we are witnesses that old dangers that we thought were overcome are possible. Understanding how international and local actors move can give us the opportunity to prepare shortly before the next conflict breaks out.
Assess people’s feelings. Not all crises are perceived in the same way in all territories and times. Knowing first-hand the emotions and feelings of people can help us design messages of encouragement as appropriate. Brands can be benchmarks in times of uncertainty. For this reason, it is valuable to assess mood in order to provide positive impacts that maintain hope in better times.
Adapt the offer to the situation. When a confrontation begins some activities must be interrupted or postponed. In addition, the scarcity of some products and services forces people to be more careful with their purchases. In the absence of money, each trip to the store means an exercise in reasoning. Knowing in advance what satisfiers and in what presentations people need can be used to reorient production lines in the best circumstances before this becomes impossible or more expensive.
Throughout history we have seen a series of moments in which the resilience and adaptability of humanity have been put to the test. Market Research is not alien to this process since people, whether they are suppliers or consumers, will seek to satisfy their needs both in times of peace and in times of conflict. Therefore, we must have tools and information to help us address them in the best possible way.
Looking to assess the concerns of LATAM consumers? At Acertiva we put at your disposal our more than 18 years of experience in the region. Write us today.