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The 86 Percent Solution: How to Succeed in the Biggest Market Opportunity of the Next 50 Years (paperback) Paperback – September 24, 2005
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About the Author
The 86 Percent Solution How to Succeed in the Biggest Market Opportunity of the Next 50 Years About the Authors
Vijay Mahajan, former dean of the Indian School of Business, holds the John P. Harbin Centennial Chair in Business at McCombs School of Business, University of Texas at Austin. He has received numerous lifetime achievement awards including the American Marketing Association (AMA) Charles Coolidge Parlin Award for visionary leadership in scientific marketing. The AMA also instituted the Vijay Mahajan Award in 2000 for career contributions to marketing strategy.
Mahajan is author or editor of nine books. He is one of the world's most widely cited researchers in business and economics. He edited the Journal of Marketing Research, and has consulted with Fortune 500 companies and delivered executive development programs worldwide.
Kamini Banga is an independent marketing consultant and managing director of Dimensions Consultancy Pvt. Ltd. Her clients have included Cadbury, Philips, Johnson & Johnson, Coca-Cola, and many others. She has traveled extensively in Asia and Southeast Asia, conducting training programs on market research and consumer behavior. During a three-year stint in London, she worked with the Harris Research Center as a consultant on ethnic issues for companies including British Airways and the BBC.
Banga writes and edits business articles for Economic Times, The Smart Manager, Business Today, and other leading Indian business publications, and is a non-executive director on several company boards. She is a graduate of the Indian Institute of Management, the premier institute for MBA education in India. A former resident of Mumbai, India, she now lives in London.
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Top Customer Reviews
Mahajan and Banga have carefully organized their material within eleven chapters which range from a rigorous analysis of "the lands of opportunity" to a "Conclusion" in which they explain why the markets in underdeveloping countries "not to be missed." More specifically, they discuss what they describe as a "complex tapestry" of convergent civilizations in which there really do seem to be almost unlimited opportunities to increase both the standard of living and quality of life for hundreds of millions of consumers. The challenge for those companies which attempt to market various goods and services in those markets is to understand their unique characteristics. To me, it seems at east as important to understand what they are not as it is to understand what they are...Read more ›
Contents: The Lands of Opportunity; Don't Build a Car When You Need a Bullock Cart; Aim for the Ricochet Economy; Connect Brands to the Market; Think Young; Grow Big by Thinking Small; Bring Your Own Infrastructure; Look for the Leapfrog; Take the Market to the People; Develop with the Market; An Opportunity Not to Be Missed; Index
Many companies that have tried to move into these developing countries did so by following the same rules that worked in the richest 14% of the world. They more often than not failed miserably. The economies are different, the purchasing power is different, and the market plays by different rules based on culture. The authors do an excellent job in showing how a different approach to these markets are necessary in order to succeed. For instance, in "Grow Big by Thinking Small", they explain that developing country consumers are using to buying what they need when they need it, and only the amount they immediately need. They often don't have either the space to store bulk quantities nor the extra income to stockpile. Trying to sell laundry detergent for 100 loads will fail. Selling enough soap for one load for a few pennies will work. The margins are thin, but the volume is huge. Your company needs to figure out how to make it all work.Read more ›
The book is likely to appeal to managers trying to expand market reach as well as managers in developing countries who want to think differently about strategies that may succeed in their own environment. This book may also benefit leaders of governments, non-governmental organizations, and other organizations who want to better understand the complexities of the developing world's business environment.
Both authors are well-versed in the challenges of marketing to the poor. Vijay Mahajan holds a chair in business at the University of Texas at Austin and is a former dean of the Indian School of Business. Kamini Banga is an independent marketing consultant and managing director of Dimensions Consultancy Pvt. Ltd. She travels widely conducting training programs on market research and consumer behavior, and writes and edits articles for top Indian business publications.
Beginning even in the first few pages, their practical ideas make sense: Scale down the product size for bulk items to a sachet. Provide built-in cooling for products that are best kept refrigerated. Create mechanisms to allow products purchased by someone in a developed economy to be used or consumed by someone in a different country.Read more ›
Most Recent Customer Reviews
This intelligent guide to doing business in emerging markets offers solid, practical tips on market characteristics, strategies, branding, packaging and other down-to-earth... Read morePublished on October 17, 2008 by Rolf Dobelli
In the last couple of years several books have been published focusing on the huge, largely untapped, and unfocused upon, regional/local markets of people in LDC nations. Read morePublished on October 25, 2006 by K. Johnson
This book is best appreciated if you have first read C.K. Prahalad's "The Fortune at the Bottom of the Pyramid," William Grieder's "The Soul of Capitalism," and Stuart Hart's... Read morePublished on March 15, 2006 by Robert David STEELE Vivas
The 86 Percent Solution : How to Succeed in the Biggest Market Opportunity of the Next 50 Years (Hardcover)
by Vijay Mahajan, Kamini Banga
ISBN:... Read more
The authors point out that most of the world's marketing goes to the richest 14% of the world's people but that 86% of the world's people live in the third world with an income of... Read morePublished on December 3, 2005 by John Matlock
For most companies, the developed world (the 14%) has been the focus of most product development and marketing, because they have the richest citizens. Read morePublished on December 2, 2005 by Shaun Mcclintock
“Around the same time that we were engaged in this work, C.K. Prahalad and others were focusing attention on the same areas of the world from a different perspective. Read morePublished on November 27, 2005 by Turgay BUGDACIGIL
Most companies focus on selling to the developed nations and overlook the eighty six percent of the world's population that live in the undeveloped ones. Read morePublished on November 23, 2005 by Harold McFarland