Acquiring & retaining customers

Companies from – emerging and mature markets are competing for the same targeted customers. Research data suggest; immense growth in middle class consumers and will continue rising steadily for next decade, creating new opportunities. However, the consumer base is fragmenting due to – growing gap between the rich and poor.

Significant swings in consumption – within and between countries caused by economic swings affected by demographic & technological changes.

In addition to; entry barriers in many industries have been lowered by technology, affording some of the most disruptive new players to come from completely unexpected corners.

How does this affect you?

Businesses trying to tackle these challenges in several ways. Chasing after new market opportunities in new territories – Customizing products/services for clearly defined demographic segments – while some have recognized that growth is not just about chasing wealth.

Billions of people are at the base of the pyramid and they possess immense buying power- focusing on underserved populations can be as profitable as it’s socially desirable. However, it entails adopting profoundly different manufacturing, marketing and selling techniques.

Some companies are tapping into the shared economy. Technology has provided the tools with which to measure and capitalize spare capacity accurately. In a connected world, we don’t have to own a product or service to appreciate it.