The Invisible Global Market: Marketing to the Other 86%
McCombs School of Business
Why do we—14% of the world—fail to effectively market products and services to the 86% rest of the world? That’s over 6 billion people—where the new growth is coming from.
Friday, October 14, 2016 - 11:30AM - 1:00PM
AT&T Executive Education and Conference Center 1900 University Avenue, Room 203 Austin, TX 78705
AT&T Executive Education and Conference Center Parking Garage and surrounding public lots.
More than 6 billion people live in developing countries where the GDP per capita is less than US $10,000. This 86 % segment of the global market includes most of the rural population in the world, where religious and other festivals influence consumption, is young with low but rising literacy levels, leapfrogging in the use of technology, and witnessing an aspiring middle class with rising incomes and economic growth rates. However, most of the market is still unorganized and lacks infrastructure and media.
Based on hundreds of interviews and market visits in dozens of developing countries, this talk will discuss “rules of engagement” that make emerging markets tick, and how some companies are successfully developing and penetrating the 86% of the other global market.
Professor Mahajan is giving away 50 advance copies of his lastest book—Rise of Rural Consumers in Developing Countries: Harvesting 3 Billion Aspirations.
- What the rules of engagement are for emerging markets
- The biases of rich countries—like the U.S.—that blind them to opportunities in the other 86% of the world.
- How the middle class in rural economies is fueling growth.
- Which countries have the most opportunity for economic growth and why.
Vijay Mahajan is a professor of marketing and holds the John P. Harbin Centennial Chair in Business at the McCombs School of Business, The University of Texas at Austin. He is an influential writer and speaker on global consumer markets, with a special emphasis on consumer behavior and marketing strategies in the developing world.
His most recent book, Rise of Rural Consumers in Developing Countries: Harvesting 3 Billion Aspirations, will be published in September 2016. He is the author or editor of twelve books other including The Arab World Unbound. Collectively, his books have been translated into twelve languages. His book, The 86% Solution, received the Book-of-the-Year award (Berry-AMA) in 2007, and Convergence Marketing and Africa Rising were among the finalists for the same award in 2003 and 2010 respectively.