When targeting the base of the income pyramid, learn why frugal innovation in emerging markets is critical to success and why to steer clear of simply de-featuring products.
- Google's Project Loon, is a literally,…out of the world RND project to bring…low-cost connectivity to over three billion people…who still do not have excess to the internet.…The system uses a network of balloons,…which travel at the edge of space…and are always connected to rooftop antennas…or internet service providers.…GE's healthcare division, is a leader…in medical systems such as MRI, CT, X-Ray and ECG machines.…
Some years back, GE India launched MAC 400.…A portable ECG machine prized at just a few hundred dollars,…a fraction of the price of the standard ECG machines.…GE developed MAC 400 in order to address…an unmet need in poor, rural markets,…which otherwise, could not afford ECG tests.…
In 2007, Safaricom, a telecom operator in Kenya…launched M-PESA, a low cost mobile money transfer service,…relying on agents at supermarkets, gas stations…and bus stations and pay sub enabled anybody…with a simple phone to send money securely…to anyone else within the country.…This service, was a particular high value…
Which emerging markets should you enter? How do you enter the targeted market? Do you partner with another company, or go it alone? How should you deal with the regulatory constraints that you might face? Anil and Haiyan address these questions, and more. They also outline some of the issues that arise once you have entered an emerging market, such as how to win out over local competitors, market to the bottom of the pyramid, and deal with the speed of fast-changing market dynamics.
- How emerging markets differ from developed markets
- Designing entry strategies
- Identifying the right beachhead
- Competing and succeeding within the market
- Cultivating and leveraging the local ecosystem
- Dealing with rapid changes in market dynamics
- Leveraging China and India as global platforms
- Building the leadership for emerging markets