Most global businesses focus nearly all their efforts on selling to the wealthiest 14% of the world's population. It's getting harder and harder to make a profit that way: these markets are oversaturated, overcompetitive, and declining. The Invisible Market shows how to unleash new growth and profitability by serving the other 86%. Vihajan Mahajan offers detailed strategies and implementation techniques for product design, pricing, packaging, distribution, advertising, and more. Discover radically different 'rules of engagement' that make emerging markets tick, and how European and Asian companies are already driving billions of dollars in sales there. Mahajan shows how to understand and manage lack of infrastructure and media, low literacy levels, and 'unconventional' consumer behavior. Learn how to redefine the 'real' competition; tap into the informal economy and unconventional channels; leverage expatriate word-of-mouth; pool demand to reach critical mass; piggyback innovations on local tradition; and price and package to reflect local realities. As traditional markets become increasingly unprofitable, emerging markets become the #1 opportunity for growth.Western companies entering developing markets, Ford initially had tried to import cars from the developed world (starting with ... During these tests, sophisticated evaluation systems measured the temperatures of the coolant, brakes, fuel, and interior. ... Ford created a tight turning radius for sharp turns on narrow roads, increased front-end height for extra clearance, and added ... Ford sold five times as many Ikons (30, 000) between February 2001 and 2004, despite tough competition.
|Title||:||The 86 Percent Solution|
|Author||:||Vijay Mahajan, Kamini Banga|
|Publisher||:||Pearson Education - 2005-09-14|