Over the last ten years, with the publishing of CK Prahalad’s book The Fortune at the Bottom of the Pyramid and with inclusion gaining ground as a national buzz word, companies have been looking in larger numbers at rural markets for all sorts of products. Yet for every success in rural India, the marketplace is littered with many, many failures. What has been the problem?
From my vantage point inside a company that operates predominantly in villages, I have a first-hand view. Not a week goes by when we are not introduced to a company with a product opportunity that they would like us to help them market in rural areas. It is an innovative product they tell us, specifically designed to solve a problem, meet an urgent need. And it is affordable. Shouldn’t that be enough? People from the villages … Read More »