The Future of Business in Emerging Markets by Nenad Pacek

Author:Nenad Pacek
Language: eng
Format: epub
ISBN: 9789814398848
Publisher: Marshall Cavendish

FOCUS ON CLOSING ANY GEOGRAPHIC AND CUSTOMER/CONSUMER GAPS

Once they have carried out a proper analysis of the geographies in which they operate and the extent of their existing customer base, many multinationals can find gaps. Often, they find that they are not equally represented in all provinces or secondary/tertiary cities. Many also realize that they under-penetrate rural areas. And when one maps the full range of potential customers in a country, there are inevitably large gaps for the vast majority of firms.

The strategic goal for the near future for companies that I work with is to focus on closing such gaps. Part of the gap will be filled directly by the multinationals, but local distributors and partners also have to step in, too. A number of B2B firms that I work with have recently created what one of my clients called a “war room for emerging markets”. He went on to explain:

“We put large pieces of paper on the wall of our largest meeting rooms in all countries and we wrote down the entire ‘universe’ of customers that our research had identified. There were so many gaps. We circled them in red. Once these areas became ours we painted them in green. The strategic goal in every country in which we operate is to turn the walls into a green colour. Luckily, global HQ is behind the project and has decided to finance on the ground expansion, too. But without some local depth of involvement, our walls will remain largely red.”

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