MKTG6003 Lecture Notes - Lecture 4: Business Process, Direct Market, Child Neglect
4 Sep 2018
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Companies must come to view the poor and underserved more as partners and colleagues, suppliers, producers, rather than merely clients or consumers. Catalyst for economic development through providing affordable products and services. Large growth opportunity, due to size of bop. Focus on the poor as producers, not just consumers. Upgrade skills and productivity to improve lives and increase purchasing power. Channel resources back into local communities to improve standards of living. Rethink the entire business process from product development to production to logistics with a focus on meeting functionality needs. By prahalad"s esti(cid:373)ates, bop i(cid:374)(cid:374)ovatio(cid:374)s (cid:373)ust a(cid:272)hieve a drasti(cid:272) pri(cid:272)e redu(cid:272)tio(cid:374) (30 100x) in order to be locally competitive. Improve access: identify innovative distribution & communication strategies. Bop communities are often physically and economically isolated. Create direct distribution and word-of-mouth mechanisms to educate consumers and expand access and availability. Add value by finishing product manufacturing within the community.
