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Download The 86 Percent Solution: How to Succeed in the Biggest Market Opportunity of the 21st Century epub book
Author: Kamini Banga,Vijay Mahajan
ISBN13: 978-0131489073
Title: The 86 Percent Solution: How to Succeed in the Biggest Market Opportunity of the 21st Century
Format: mobi lit mbr lrf
ePUB size: 1814 kb
FB2 size: 1289 kb
DJVU size: 1854 kb
Language: English
Category: Politics and Government
Publisher: Wharton School Publishing (September 24, 2005)
Pages: 256

The 86 Percent Solution: How to Succeed in the Biggest Market Opportunity of the 21st Century by Kamini Banga,Vijay Mahajan

In the book The 86% Solution - How To Succeed In the Biggest Market Opportunity of the 21st Century by Vijay Mahajan and Kamini Banga, the argument is made (and quite effectively) that the largest new markets are in the developing countries. Yes, the authors acknowledge, these countries lack infrastructure and media.

Personal Name: Mahajan, Vijay. Varying Form of Title: 86 % solution. Varying Form of Title: Eighty six percent solution. Publication, Distribution, et. Upper Saddle River, . Wharton School Publishing, (c)2006. On this site it is impossible to download the book, read the book online or get the contents of a book. The administration of the site is not responsible for the content of the site. The data of catalog based on open source database. All rights are reserved by their owners. Download book The 86 percent solution : how to succeed in the biggest market opportunity of the next 50 years, Vijay Mahajan and Kamini Banga with Robert Gunther online for free.

The 86 Percent Solution. 4. Connect Brands to the Market. Market-Stall Economies. Strategies for Harnessing Local Brands. Brands on the Run. The 86 Percent Solution. Strategies for the Youth Market. 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.

Read eBook on the web, iPad, iPhone and Android. However, the biggest marketing opportunity of the twenty-first century will be to sell to the other 86% of the population who live in developing nations. In their book, the authors explain that you need to be aware of the nine specific characteristics of emerging markets and learn the nine specific strategies. Each of these characteristics represents an opportunity to gain a competitive advantage for whichever companies come up with the most appropriate solutions. This summary reveals that the question is not whether you should be in this market, but whether you can afford not to be.

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The 86 Percent Solution book. Desde Leader Summaries recomendamos la lectura del libro La solución del 86%, de Vijay Mahajan y Kamini Banga. Las personas interesadas en las siguientes temáticas lo encontrarán práctico y útil: innovación, nuevos mercados y sus oportunidades, globalización. En el siguiente enlace tienes el resumen del libro La solución del 86%, Oportunidades de negocio en países emergentes y en desarrollo: La solución del 86%.

Identifier-ark ark:/13960/t5p85737n. Books for People with Print Disabilities.

By Vijay Mahajan, Kamini Banga. Published Sep 14, 2005 by FT Press. Sorry, this book is no longer in print. The 86 Percent Opportunity. Opportunities at Many Levels. Characteristics of Emerging Markets and Opportunities They Create. 2. Don’t Build a Car When You Need a Bullock Cart. Evolving Opportunities. Conclusion: An Opportunity Not to Be Missed.

Author : Vijay Mahajan,Kamini Banga,Robert Gunther. Publisher : Financial Times/ Prentice Hall. R.,750 on (FREE Delivery). Don't Build a Car When You Need a Bullock Cart. Designing for Six-Yard Saris. Riding the Bullock Cart. 3. Aim for the Ricochet Economy.

According to the authors, Vijay Mahajan, former dean of the Indian School of Business and current holder of the Harbin Centennial Chair in Business at the university of Texas in Austin and Kamini Banga, an independent marketing consultant, these markets are over-saturated, over-competitive and aging. The growth, they argue, lies in reaching the rest of the world.

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, overcompetitive, and declining. The Invisible Market shows how to unleash new growth and profitability by serving the other 86%. Vihajan Mahajan offers detailed strategies and implementation techniques for product design, pricing, packaging, distribution, advertising, and more.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 redefinethe '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. As traditional markets become increasingly unprofitable, emerging markets becomethe #1 opportunity for growth.
Reviews: 7
do not waste your time
With regard to the meaning and significance of the title, Mahajan and Banga explain that 86% of the world has a per capita gross national product (GNP) of less than $10,000 per year. So what? Not only do those markets represent the future of global commerce; "they also present rich opportunities for companies that have the imagination and creativity to envision [consumers within those markets]. But you won't recognize these opportunities through the lens of the developed world. You won't reach these consumers through the market strategies that work in the 14 percent markets. Developing markets have no smooth superhighways, no established consumer markets, no distribution networks, and, in many cases, no electricity. Developing markets are younger, behind in technology (but rapidly catching up), and inexperienced as consumers. These markets are very different. Yet with creative solutions tailored to their distinctive characteristics, ...you can realize the rich opportunities of these 86 percent markets."

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...or can (and will) become.

Here are two brief excerpts and then a checklist which, I hope, indicate the scope and depth of Mahajan and Banga's analysis.

"There is no Chinese market. There is a market in Shanghai, or in a neighborhood in Shanghai. There is no Indian market. There is a market in Mumbai or Chennai, or in their local neighborhoods. Developing countries are a collection of fragmented local markets in a country that is gathered loosely under a single flag." (Page 77)

"Think English is the language to know for business? Maybe not for long. Consider that Mandarin Chinese has the largest number of speakers in the world -- a billion, including second-language speakers. This is followed by English, with about half as many speakers, and then Spanish, Hindi, Arabic, Bengali, and Russian. If you want to work with 86 percent of the world, you need to speak the languages of the 86 percent." (page 83)

Which strategies will be most effective when "taking the market to the people"? Mahajan and Banga suggest seven:

1. Position for the paanwalla (i.e. small shop)

2. Create multiple levels of distribution (e.g. Hindustan Lever's "Project Shakti" based a direct-to-home model involving self-help groups, each comprised of 10-15 underprivileged women)

3. Use distribution bubbles (i.e. carnivals, market days, and vans which come and go) to find customers where they are

4. Take the bank out of the branch (e.g. Citibank's use of vans and a network of 9,000 direct-selling agents, called "Citi Friends," who visit homes)

5. Develop on-the-ground insights (i.e. understand and adapt to local aND even neighborhood regulations and conditions)

6. Create distribution systems from scratch (e.g. a new distribution system, based on grassroots networks, which built a supply chain for a camel's milk dairy in Mauritania)

7. Use existing networks creatively (e.g. the "dabbawala system" in Mumbai, India, probably the world's most efficient lunch delivery system which collects 175,000 home-cooked meals from workers' homes and delivers them to their offices)

Thoughtfully, Mahajan and Banga provide a section at the end of each of the first ten chapters, "The 86 Percent Solution," which summarizes key points and facilitates subsequent review of them. Before concluding their brilliant book, Mahajan and Banga share these thoughts when explaining why numbers are on the side of the developing world: Population Equals Profits. "The transformation is just beginning. There will be hiccups along the way and further surprises over the next two decades as the next `Chinas' and `Indias' emerge. The only certainty is the the 86 percent markets are here to stay. These markets are young and growing. Even though they won't become developed tomorrow,,, they are the future. And the companies that can develop the right solutions to meet their needs will find a rich source of growth."

Who will derive the greatest benefit from Mahajan and Banga's book? In my opinion, they are decision makers in two different categories of companies: Those which now market or are about to market in underdeveloping countries, and, other companies which now do business with -- or plan to do business with -- those in the first category. I also think this book will be of substantial interest and value to public officials who are now actively involved with helping to support global commerce.

Congratulations to Mahajan and Banga on a brilliant achievement!
There have been several solid books recently published on how to capitalize on the evolving economies of developing nations, but this one is the most practical. The title refers to the 86 percent of the world's six billion-plus inhabitants that live in developing countries where the per capita GNP is less than $10K per year. According to authors Vijay Mahajan and Kamini Banga, much of the world's future economic growth and enduring market opportunities reside in this expansive bracket. They appear to have the credentials to be well versed in such matters - Mahajan holds a chair in business at the University of Texas at Austin and is a former dean of the Indian School of Business, while Banga is a managing director of Dimensions Consultancy Pvt. Ltd., a firm focused on helping develop economic survival strategies for companies in developing countries.

Thus far, the authors say that most companies have too often focused their marketing disproportionately on the 14 percent of the world's population living in developed economies. They look at market strategies in developing countries more broadly than C.K. Prahalad does in his recently published and similarly themed book, "The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits". Rather than focusing on just the bottom of the pyramid, Mahajan and Banga examine every level of that pyramid and identify other ways that companies need to challenge the established Western models for marketing in approaching these emerging markets.

The strength of the 256-page book is simply that the authors provide practical ideas that make good business sense. For example, they advise manufacturers to scale down the product size for bulk items to packets if possible, and they encourage providing built-in cooling for products that are best kept refrigerated. In brief, in order to succeed with the 86% segment, companies need to create mechanisms that allow products purchased by someone in a developed economy to be used or consumed by someone in a different country. This means thinking "small" in terms of not only package size but also installment pay options, and investing in products that fulfill just fundamental consumer needs versus establishing a product niche that may not be there much less appreciated.

From this change in thinking, the authors provide valuable guidance on how to build an infrastructure to develop and deliver products. Most interestingly, Mahajan and Banga discuss the creation of a "ricochet economy" that serves the needs of immigrants abroad who maintain strong connections to their country of origin. A key example cited is a Los Angeles electronics and furniture retailer named La Curacao, where a customer in the US can purchase products and have them delivered to relatives in Mexico. The formula also works inversely where countries have taken products established in developed countries and successfully adapted them to local sensibilities. For instance, MTV has a global presence that is sensitive on a localized level with Bollywood music in India, calls to prayer broadcast five times daily in Indonesia and the infusion of a "salsa flavor" into its Brazilian programming.

Another fascinating insight is the absence of legacy systems in developing countries which would have otherwise slowed them down in adopting new technologies. As a matter of fact, these countries adapt even faster than developed countries to convenience products such as cell phones because they have not invested in large-scale telecommunications systems with land lines. On the other hand, there are certain realities to consider when putting customer needs first, such as the fact that people in villages without reliable sources of electricity cannot be expected to purchase and use products without a back-up source of energy. Mahajan and Banga recognize with acuity the fact that companies need to refocus their strategies to consider customer needs specifically in order to make the headway necessary to reap the economic benefits of the 86%.

As others write of China's looming dominance and the outsourcing power of India, these authors take a constructive step toward identifying key market opportunities available to companies to offset such trends. More than Prahalad's book, this tome provides an ideal complement to Stuart L. Hart's "Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World's Most Difficult Problems", which identifies the need for companies to move beyond transparency towards "radical transactiveness", i.e., a willingness to engage and learn from people who hold fundamentally different world views Mahajan and Banga provide smart, practical-minded reading for those seeking a fresh perspective in conquering the future global economy.