Teaching the developing world to shop
The world's 4 billion poor people represent a huge untapped market for Western companies, writes Erik Simanis -- but to succeed in the developing world, companies need to radically change the way their products are perceived. People living in poverty aren't used to the idea of paying for even basic resources such as clean water, so companies need to focus on community outreach if they're to win new customers. "Companies must ... make the idea of paying money for the products seem natural, and they must induce consumers to fit those goods into their long-held routines," Simanis writes.
Wall Street Journal, The | 10/20
This story published in SmartBrief on Leadership on 11/03/2009
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