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, over competitive, and declining. The Invisible Market shows how you can unleash new growth and profitability by serving the other 86%. Drawing on his unsurpassed insights into marketing in emerging markets, Vijay Mahajan offers detailed strategies and implementation techniques for product design, pricing, packaging, distribution, advertising, and more. You'll 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 your '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. Mahajan previews the future of emerging markets, showing how to segment income strata, leverage price elasticity, and more. As traditional markets become increasingly unprofitable, emerging markets become your #1 opportunity for growth. With this book, you can act on this historic opportunity -- before it's gone forever.
