New Markets, New Mindsets by Gwen Ansell

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Doing business with low-income communities – which academics and practitioners have christened ‘the base of the pyramid’ (BoP) – now includes a focus on creating sustainable markets with the potential to realise future profit – simply ‘milking’ a market for the next quarter’s profits is seen as short-sighted. The status quo is shifting, and the rules of both commercial and social engagement with middle- and lower-end markets in developing economies are transforming. There is keen interest from both local and global businesses and institutions to be involved in these markets. And they care about the practical detail of doing it effectively, and ethically. This new view accords that doing business in a healthier economy benefits firms by lowering transaction costs and the long-term cost of capital. In South Africa, around 60% of the population is unserved or underserved by current business (and many other providers of support and services). That’s a significant new market, and in the South African context, doing business in this market can achieve a great deal more than simply finding new customers. Regardless of global trends or government pressures, accessing these markets is challenging. Often, customers who survive on minimal incomes seek and will value different market offerings from those traditional customers have purchased. They have unique needs and identities requiring innovative, non-traditional business models and approaches. New Markets, New Mindsets showcases pioneering businesses and their BoP champions, as well as their experiments, successes, failures and best practices in creating new AND sustainable markets in previously underserved communities. The book includes top tips for those wishing to tap into these communities in ethical and effective ways, interviews with over 40 role players, and case studies including Nestlé, Danone, Massmart/Walmart, Nedbank, Blue Label Technologies and Capitec, among others.

About Gwen Ansell

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Tashmia Ismail is a fellow of the Maastricht Economic and Social Research and Training Centre on Innovation and Technology at United Nations University, and a senior lecturer at the University of Pretoria's Gordon Institute of Business Science where she heads the Base of the Pyramid Hub program. Nicola Kleyn is a senior lecturer at the Gordon Institute of Business Science and is involved in the Base of the Pyramid Hub program. She has been awarded the University of the Witwatersrand's Distinguished Teacher's Award for the Faculty of Commerce and has published articles in the International Marketing Review, Journal of Business Ethics, Journal of Marketing Intelligence and Planning, and the South African Journal of Business Management. Gwen Ansell is a freelance journalist, a media trainer, a consultant, and a visiting associate at the University of the Witwatersrand in Johannesburg, South Africa. She is a contributor to Business Day and the Mail & Guardian, a representative of the South African National Editors Forum Education and Training subcommittee, and a member of the Forum of African Investigative Reporters' advisory board. She is the author of Introduction to Journalism and Soweto Blues. Stuart L. Hart is the Samuel C. Johnson Chair in Sustainable Global Enterprise and a professor at the Johnson School of Management of Cornell University. He lives in Ithaca, New York. Michael Gordon is the Arthur F. Thurnau Professor of Social Entrepreneurship and Information Technology at the Ross School of Business of the University of Michigan. He lives in Ann Arbor, Michigan.
Published May 1, 2012 by Jacana Media. 272 pages
Genres: Business & Economics, Education & Reference, Professional & Technical, Law & Philosophy. Non-fiction

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