jerryking + low-income   29

He Grew Up on a Farm. Now, He Helps Protect Them.
Oct. 3, 2019 | The New York Times | By Norman Mayersohn.

Books: Warren Buffett biography, “Buffett: The Making of an American Capitalist,”

Few livelihoods offer as many paths to failure as agriculture. Throughout history, farmers have been at the mercy of nature — be it weather, pests or crop diseases — even as the survival of people and livestock depended on their success...... Thomas Njeru, is a co-founder and the chief financial officer of Pula, a four-year-old microinsurance firm that serves 1.7 million smallholder farms of 0.6 acres or less in 10 African countries and India. Microinsurance — think of it as an offshoot of the microloan programs that kick-start businesses in impoverished areas — provides protection for low-income individuals who do not have access to conventional coverage....Pula, based in Nairobi, Kenya, partners with government agencies and loan providers to cover the cost of the insurance, which is included in the price of seed and fertilizer; there is no direct charge to the farmer. Among the coverages Pula provides is weather index insurance to cover failures of seed germination, using satellite data to determine whether there has been sufficient rainfall. Longer-term coverage, called yield index insurance, compensates farmers with replacement supplies in the event of a poor harvest......People in Africa don't invest in agriculture because the chance of them losing their money due to the vagaries of the weather is huge.........Pula’s mission is to give farmers confidence by providing risk mitigation. Our solutions protect a farmer’s investment by pairing it with insurance. We build business cases to persuade Fortune 500 companies, seed and fertilizer suppliers, lending institutions, and governments in Africa, that embedded insurance will help deliver better results for both businesses and food security....The sad reality is that farmers are one drought or one disease outbreak away from sliding into absolute poverty......the penetration of agriculture insurance in Africa is less than 1 percent. The reason is that insurance companies’ business models are not set up to serve the unique needs of smallholder farmers......scaling Pula’s business model to the point that insured seed and fertilizer become ubiquitous in the market......The average annual insurance premium per farmer is about $3 to $5. This includes the cost of product development, pricing, underwriting, claim adjustment and, of course, the claim costs. We use artificial intelligence, mobile-based registration systems, remote sensing and automation tools...Agriculture insurance is a cemetery of pilots and trials..
Africa  agriculture  behavioral_change  books  Bottom_of_the_Pyramid  crop_insurance  farming  insurance  Kenya  low-income  microfinance  mobile_applications  poverty  precarious  Pula  seeds  smallholders  start_ups  risks  risk-mitigation  Warren_Buffett  weather 
12 days ago by jerryking
US fast-food chains struggle as poorer consumers tighten belts
November 11, 2018 | Financial Times | by Alistair Gray in New York.

The robust US economy is failing to boost the fast-food industry as chains grapple with a saturation of retail outlets, consumer demands for deep discounts and declining footfall.

Numbers visiting US fast-food outlets in September dropped 2.6 per cent from a year ago, according to restaurant industry data provider MillerPulse, a steeper decline than the 0.8 per cent year-on-year drop recorded the previous month.

Industry executives and consultants cited a series of factors, including consumer demand for healthier alternatives to burgers and pizzas and lower construction activity, which means fewer building workers are picking up fast food on lunch breaks.

The tough landscape has taken its toll on several operators. Last week, the New England-based owner of Papa Gino’s and D’Angelo Grilled Sandwiches filed for bankruptcy protection.
bankruptcies  fast-food  low-income  QSR  restaurants  store_closings  oversaturation 
november 2018 by jerryking
Opinion | How to Level the College Playing Field
April 7, 2018 | The New York Times | By Harold O. Levy with Peg Tyre. Mr. Levy is a former chancellor of the New York City public schools. He wrote this article with the education journalist Peg Tyre.

Despite the best efforts of many, the gap between the numbers of rich and poor college graduates continues to grow.

It’s true that access programs take some academically talented children from poor and working-poor families to selective colleges, but that pipeline remains frustratingly narrow. And some colleges and universities have adopted aggressive policies to create economic diversity on campus. But others are lagging. Too many academically talented children who come from families where household income hovers at the American median of $59,000 or below are shut out of college or shunted away from selective universities.....The wealthy spend tens of thousands each year on private school tuition or property taxes to ensure that their children attend schools that provide a rich, deep college preparatory curriculum. On top of that, many of them spend thousands more on application coaches, test-prep tutors and essay editors. ......
(1) Let’s start with alumni. It is common to harbor fond feelings toward your alma mater. But to be a responsible, forward-looking member of your college’s extended community, look a little deeper. Make it your business to figure out exactly who your college serves. What is the economic breakdown of the current student body? Some colleges trumpet data about underrepresented minorities and first-generation students. But many don’t. And either way, there are follow-up questions to ask. How has that mix changed over the past 10 years? What policies are in place to increase those numbers?
(2) Legacy admission must end.
(3) shorten the college tour.
(4) cities and states should help students who come from the middle and working classes with programs that provide intensive advising, money for textbooks and even MetroCards
(5) Refine the first two years of some four-year liberal arts education into an accredited associate degree.
(6) Stop acting like everyone already has the road map to college plotted. The college application system has become costly and baroque. Make it possible for high schools to hire, train and deploy enough guidance counselors.
(7) stop giving to your alma mater. Donors to top universities are getting hefty tax deductions to support a system that can seem calculated to ensure that the rich get richer. If you feel you must give, try earmarking your donation for financial aid for low-income, community college students who have applied to transfer to your alma mater.
Colleges_&_Universities  accessibility  legacies  roadmaps  admissions  op-ed  unfair_advantages  social_mobility  meritocratic  alumni  hereditary  nepotism  education  self-perpetuation  super_ZIPs  opportunity_gaps  college-educated  upper-income  compounded  low-income  elitism  selectivity  follow-up_questions 
april 2018 by jerryking
When algorithms reinforce inequality
FEBRUARY 9, 2018 | FT | Gillian Tett.

Virginia Eubanks, a political science professor in New York, undertakes academic research was focused on digital innovation and welfare claims. ......Last month, she published Automating Inequality, a book that explores how computers are changing the provision of welfare services in three US regions: Indiana, Los Angeles and Pittsburgh. It focuses on public sector services, rather than private healthcare insurance, but the message is the same: as institutions increasingly rely on predictive algorithms to make decisions, peculiar — and often unjust — outcomes are being produced. And while well-educated, middle-class people will often fight back, most poor or less educated people cannot; nor will they necessarily be aware of the hidden biases that penalise them....Eubanks concludes, is that digital innovation is reinforcing, rather than improving, inequality. ...What made the suffering doubly painful when the computer programs got it wrong was that the victims found it almost impossible to work out why the algorithms had gone against them, or to find a human caseworker to override the decision — and much of this could be attributed to a lack of resources....a similar pattern is described by the mathematician Cathy O’Neil in her book Weapons of Math Destruction. “Ill-conceived mathematical models now micromanage the economy, from advertising to prisons,” she writes. “They’re opaque, unquestioned and unaccountable and they ‘sort’, target or optimise millions of people . . . exacerbating inequality and hurting the poor.”...Is there any solution? O’Neil and Eubanks suggest that one option would be to require technologists to sign something equivalent to the Hippocratic oath, to “first do no harm”. A second — more costly — idea would be to force institutions using algorithms to hire plenty of human caseworkers to supplement the digital decision-making.

A third idea would be to ensure that the people who are creating and running the computer programs are forced to think about culture, in its broadest sense.....until now digital nerds at university have often had relatively little to do with social science nerds — and vice versa.

Computing has long been perceived to be a culture-free zone — this needs to change. But change will only occur when policymakers and voters understand the true scale of the problem. This is hard when we live in an era that likes to celebrate digitisation — and where the elites are usually shielded from the consequences of those algorithms.
Gillian_Tett  Cathy_O’Neil  algorithms  inequality  biases  books  dark_side  Pittsburgh  poverty  low-income 
february 2018 by jerryking
Lost Einsteins: The Innovations We’re Missing -
DEC. 3, 2017 | The New York Times | David Leonhardt.

societies have a big interest in making sure that as many people as possible have the opportunity to become scientists, inventors and entrepreneurs. It’s not only a matter of fairness. Denying opportunities to talented people can end up hurting everyone.

.....Raj Chetty....is a Stanford professor who helps lead the Equality of Opportunity Project.... considered among the most important research efforts in economics today.....The project’s latest paper, out Sunday, looks at who becomes an inventor — and who doesn’t. The results are disturbing....The key phrase in the research paper is “lost Einsteins.” It’s a reference to people who could “have had highly impactful innovations” if they had been able to pursue the opportunities they deserved.....children who excelled in math were far more likely to become inventors. But being a math standout wasn’t enough. Only the top students who also came from high-income families had a decent chance to become an inventor.

This fact may be the starkest: Low-income students who are among the very best math students — those who score in the top 5 percent of all third graders — are no more likely to become inventors than below-average math students from affluent families:

....“There are great differences in innovation rates,” Chetty said. “Those differences don’t seem to be due to innate ability to innovate.” Or as Steve Case — the entrepreneur who’s now investing in regions that venture capital tends to ignore — told me when I called him to discuss the findings: “Creativity is broadly distributed. Opportunity is not.” [or life’s basic truth: Talent is universal, but opportunity is not.]
innovation  equality_of_opportunity  Steve_Case  Albert_Einstein  achievement_gaps  affluence  high-income  low-income  mathematics  capitalization  human_potential  inventions  inventiveness  inventors  creativity  quotes  unevenly_distributed 
december 2017 by jerryking
A proven identity offers a path to many freedoms
August 11, 2017 | Financial Times | Gillian Tett.

Most of us in the west take it for granted that we have an official identity, both in digital life and real life. We usually only think about it if we are worried that somebody is trying to steal it, or that governments are threatening to breach our privacy.

But in the developing world, the idea of having an identity — be that digital or in any other form — is a luxury. It is estimated that some two billion adults around the world do not have a bank account. In emerging markets, some women in particular have no way to independently identify themselves, making it difficult for them to protect their rights, access services or lift themselves out of poverty.

“Large numbers of women are unable to take control of their finances because they lack the basic documentation to open a bank account,” Okonjo-Iweala pointed out, noting that around 42 per cent of adult women in developing countries lack a bank account partly because they have no way to show a bank teller (or anyone else) who they are. 

According to research carried out by ID2020, a public-private project that’s trying to promote digital identifier systems: “Experts estimate that 1.5 ­billion people lack any form of officially recognised identification, and that’s one-fifth of the planet.” These tend to be “women and children from the poorest areas of the world”. The United Nations, meanwhile, has declared that one of its sustainable development goals is to provide everybody on the planet with a legal identity by 2030. 

The good news is that all manner of organisations and groups are now getting involved in the cause. The World Bank, for example, is working with private-sector bodies including MasterCard to create digital identities using credit platforms. Ajay Banga, MasterCard CEO, is a vocal champion of this campaign, particularly for women (partly, a cynic might suggest, because he hopes this will create a future market).

ID2020 is spearheading another non-government initiative, in conjunction with groups such as Accenture and Microsoft. Refugee bodies, including the United Nations Development Programme, are trying to create digital identities for people in camps.
digital_identity  identity  Gillian_Tett  emerging_markets  women  children  Bottom_of_the_Pyramid  low-income  developing_countries 
august 2017 by jerryking
As Black-Owned Banks Withdraw, Community Sounds Alarm - WSJ
By Sharon Nunn
Aug. 6, 2017

The number of black-owned banks operating in the U.S. has been dropping steadily for the past 15 years and fell to 23 this year, the lowest level in recent history, according to the Federal Deposit Insurance Corp. That has left many African-American communities short of access to capital and traditional financial services, according to some banking experts....The 2008 recession hit the black banking sector especially hard, and if the current rate of closures of about two a year, as well as the industry-wide reluctance or inability to start banks, continues, black-owned banks could disappear entirely within the next eight to 12 years. The trend is worrisome to some analysts who argue fewer banks serving low-income, minority groups could expand “financial deserts”—communities with few or no banking institutions—and increase the likelihood that black and Hispanic communities could become susceptible to redlining, a discriminatory practice that excludes poorer minority areas from financial services....... [black-owned community banks were] the first bank some African-Americans had access to, making it a symbol of black enterprise and economic development, .......A survey of entrepreneurs by the U.S. Census Bureau in 2014 found that 47% of black business owners had gotten got the full amount of funding requested from banks, credit unions or other financial institutions, compared with 76% of whites.

That survey also showed fear of rejection was the top reason cited by black business owners who chose not to seek needed capital at all.
black-owned  banks  African-Americans  trends  decline  FDIC  financial_services  redlining  low-income  community_banks 
august 2017 by jerryking
‘A National Admissions Office’ for Low-Income Strivers - NYTimes.com
SEPT. 16, 2014 | NYT | David Leonhardt.

QuestBridge has figured out how to convince thousands of high-achieving, low-income students that they really can attend a top college. “It’s like a national admissions office,” said Catharine Bond Hill, the president of Vassar.

The growth of QuestBridge has broader lessons for higher education — and for closing the yawning achievement gap between rich and poor teenagers. That gap is one of the biggest reasons that moving up the economic ladder is so hard in the United States today.

the larger lessons of QuestBridge are so important.

What are they? One, the complexity of the financial-aid process is scaring students away from college.

Two, large amounts of well-meaning scholarship money — from private sources as well as from Washington and state governments — is fairly ineffectual. .

Three, not every problem created by inequality is fiendishly difficult to solve.
Colleges_&_Universities  admissions  movingonup  QuestBridge  students  disadvantages  elitism  strivers  low-income  high-achieving 
september 2014 by jerryking
Minorities possible unfairly disqualified from opening bank accounts | mathbabe
August 7, 2013 Cathy O'Neil,

New York State attorney general Eric T. Schneiderman’s investigation into possibly unfair practices by big banks using opaque and sometimes erroneous databases to disqualify people from opening accounts.

Not much hard information is given in the article but we know that negative reports stemming from the databases have effectively banished more than a million lower-income Americans from the financial system, and we know that the number of “underbanked” people in this country has grown by 10% since 2009. Underbanked people are people who are shut out of the normal banking system and have to rely on the underbelly system including check cashing stores and payday lenders....The second, more interesting point – at least to me – is this. We care about and defend ourselves from our constitutional rights being taken away but we have much less energy to defend ourselves against good things not happening to us.

In other words, it’s not written into the constitution that we all deserve a good checking account, nor a good college education, nor good terms on a mortgage, and so on. Even so, in a large society such as ours, such things are basic ingredients for a comfortable existence. Yet these services are rare if not nonexistent for a huge and swelling part of our society, resulting in a degradation of opportunity for the poor.

The overall effect is heinous, and at some point does seem to rise to the level of a constitutional right to opportunity, but I’m no lawyer.

In other words, instead of only worrying about the truly bad things that might happen to our vulnerable citizens, I personally spend just as much time worrying about the good things that might not happen to our vulnerable citizens, because from my perspective lots of good things not happening add up to bad things happening: they all narrow future options.
visible_minorities  discrimination  data  data_scientists  banks  banking  unbanked  equality  equality_of_opportunity  financial_system  constitutional_rights  payday_lenders  Cathy_O’Neil  optionality  opportunity_gaps  low-income 
december 2013 by jerryking
Low-income, subsidized housing ghettos provoke violence
March 27 2013 | Share News | By PAT WATSON.

TCHC representation would matter because a significant number of the shootings and gun related deaths that occur take place in and around TCHC subsidized housing. The two common denominators of this crisis of youth shootings are being African Canadian and living in an environment of economic disadvantage.

Those who attended the summit heard that more than 75 per cent of the victims of gun deaths in Toronto are young, Black males. It’s been called gang violence, and it’s been called Black-on-Black violence, but the fact is that young, Black males who live outside of these low-income, social housing enclaves are not the ones engaging in and being the targets of shootings.
TCHC  Toronto  violence  African_Canadians  social_housing  public_housing  low-income 
april 2013 by jerryking
Big Retailers Fill More Aisles With Groceries
111.
Nick Metrowsky
Longmont Colorado
January 17th, 2011
11:29 am
Watch, as grocery stores abandon poorer areas and the drug stores become the new corner store; driving out "Joe's Corner Store"...
letters_to_the_editor  grocery  supermarkets  pharmacies  Wal-Mart  Target  Walgreens  CVS  fresh_produce  low-income  from notes
march 2013 by jerryking
Mapping Toronto’s food territories
Mar. 22 2013 | The Globe and Mail | by AMANDA KWAN.

Brian Cook, a researcher with the city’s Food Strategy team.

Despite a huge need for a wider variety of food options, St. James Town would not show up on a “food desert” map. Often described as neighbourhoods, usually low-income, with a dearth of supermarkets, “food deserts” have become the default concept for discussing food insecurity, even though there is no consensus on how to actually define or measure them....To get a more detailed look at the various neighbourhoods in Toronto, researchers are creating a food retail environment index that calculates a score based on the number of healthier food stores within a particular block. The lower the number, the less healthy the food environment is. “So you get a kind of heat map of the city where you see hot spots and cool spots” of high and low index scores, Mr. Cook says.
Toronto  grocery  supermarkets  food  urban  neighbourhoods  St._James_Town  mapping  Cabbagetown  hotspots  low-income 
march 2013 by jerryking
Foreclosure Rise Brings Business To One Investor - WSJ.com
MARCH 14, 2007 | WSJ | By JAMES R. HAGERTY
BARGAIN BASEMENT
Foreclosure Rise Brings Business To One Investor
Mr. Barnes Buys Dregs From Worried Lenders; A Dozen for $35,250
foreclosures  housing  investors  subprime  mortgages  home_ownership  low-income 
october 2011 by jerryking
Gillette's in Razors: the 11-Cent Blade - WSJ.com
OCTOBER 1, 2010 | WSJ | By ELLEN BYRON.Winning over
low-income consumers in developing markets is crucial to the growth
strategy of P&G's chief executive, Robert McDonald. Over the next
five years, Mr. McDonald wants to boost the company's total customer
base for its many products to five billion of the world's expected
population of seven billion. Many of these new consumers will have to
come from markets like India, where P&G has a small presence
compared to Unilever PLC and some other competitors.The need to grow in
emerging markets is pushing P&G to change its product-development
strategy. P&G uses what it calls reverse engineering. Rather than
create an item and then assign a price to it—as in most developed
markets—the company starts with what consumers can afford and then
adjusts the features and manufacturing processes to meet the target.

For Gillette Guard, the target was five rupees, about the cost of
shampoo sachets or small tubes of toothpaste.
Gillette  innovation  India  P&G  personal_care_products  reverse_engineering  reverse_innovation  cost-cutting  emerging_markets  Bottom_of_the_Pyramid  customer_growth  low-income 
october 2010 by jerryking
Nestlé Plans Indian Center to Tap Low-Income Market - NYTimes.com
By HEATHER TIMMONS
Published: September 22, 2010
The Swiss food giant said Wednesday that it would open its first
research and development center in India, where it plans to use local
ingredients and spices as well as low-cost Indian research and
engineering to make products for India and the rest of the world....Like
many other Western companies, Nestlé is expanding in emerging markets,
where fast-growing economies and young populations mean an increasing
number of people can afford nonessential consumer goods. Nestlé expects
to get 45 percent of sales from emerging markets by 2020.

“We have to understand the consumer” in India and know how he or she
cooks, Mr. Zimmermann said. The company’s new research center will be
staffed mostly by Indians and will develop new products relying on
Indian cuisine, traditional ingredients and spices, he said.
India  Nestlé  Bottom_of_the_Pyramid  R&D  emerging_markets  low-income 
september 2010 by jerryking
What Knockoffs Can Teach Companies About Chinese Markets | Co.Design
Sep 8, 2010 | Fast Company | by Makiko Taniguchi & Eddie
Wu. Fakes and knockoffs often express unmet desires that big firms miss.
Learn from them...Countries, from the U.S. to Japan, regularly accuse
China of copying designs. Indeed,MNCs in these countries spend an
inordinate amount of time and money trying to prevent their products
from being copied. But Shanzhai -- "copycat" design --represents a vast
business opportunity. Shanzhai is an open platform for grassroots
innovation: Apple, Nokia, and Samsung smartphones get copied, but the
knockoffs adapt the original designs in ways that appeal to Chinese
customers. E.g., Shanzhai designers might add a flashlight, key in areas
with unstable electricity. The effect is to make products accessible to
common folks in terms of price, aesthetics, values, and needs. Shanzhai
designs are an opportunity for international companies to introduce
Chinese consumers to their brands, and then observe how local Chinese
culture adapts their offerings.
counterfeits  China  customer_insights  discoveries  pattern_recognition  ideo  opportunities  innovation  design  adaptability  patterns  copycats  unarticulated_desires  Bottom_of_the_Pyramid  emerging_markets  brands  multinationals  aesthetics  knockoffs  creative_appropriation  cost-consciousness  low-income  affordability 
september 2010 by jerryking
Dollarama aims to keep it simple
Aug. 11, 2010 | The Globe and Mail | Marina Strauss Retailing Reporter
Marina_Strauss  retailers  Dollarama  immigrants  cost-consciousness  low-income 
august 2010 by jerryking
Op-Ed Contributor - Moynihan’s Message - NYTimes.com
May 28, 2010 | NYT | By JAMES T. PATTERSON. FORTY-FIVE years
ago this month, Assistant Secretary of Labor Daniel Patrick Moynihan
began quietly circulating a report he had recently completed, “The
Negro Family: The Case for National Action” , about the “tangle of
pathology” — out-of-wedlock births, fatherless households — damaging
low-income black families...."Meanwhile Moynihan’s pessimistic
prophecies have come true. In 1965, a quarter of nonwhite births in the
United States were out of wedlock, eight times the proportion among
whites. Today the proportion of nonmarital births among non-Hispanic
blacks exceeds 72 %, compared with a proportion among non-Hispanic
whites of around 28 %.

Only 38 % of black children now live with married parents, compared with
three-quarters of non-Hispanic white children. Many boys in fatherless
families drop out of school, fail to find living-wage work and turn to
idleness or crime. Many girls become poverty-stricken single mothers
themselves. "
op-ed  African-Americans  race_relations  public_policy  Daniel_Moynihan  poverty  fatherhood  out-of-wedlock  family_breakdown  low-income 
may 2010 by jerryking
Choosing Climate-Friendly Insurance
January 29, 2010| - National Geographic's Green
Guide|-Christine Dell'Amore. And then there's insurance that covers the
impacts of climate change, such as extreme weather events.
Micro-insurance for low-income customers that don't have access to
traditional insurance now covers about seven million people, according
to the report. This type of coverage--which was a focus of the
Copenhagen climate conference in December--is especially needed in
developing countries where food and water shortages are severe.
insurance  weather  low-income  microfinance  developing_countries  extreme_weather_events  climate_change 
january 2010 by jerryking
Serving the World's Poor, Profitably
Sept. 1, 2002 | Harvard Business Review | by C.K. Prahalad and Allen Hammond
C.K._Prahalad  BRIC  HBR  Bottom_of_the_Pyramid  filetype:pdf  media:document  low-income 
december 2009 by jerryking
Switch to the low-income customer
14-Nov-2005 | Financial Times | By Jeremy Grant. "When AG
Lafley came in [in 2000] and said, 'We're going to serve the world's
consumers', that led us to say, 'We don't have the product strategy, the
cost structure, to be effective in serving lower income consumers'.
"What's happened in the last five years has been one of the most
dramatic transformations I've seen in my career. We now have all of our
functions focused on that," says Mr Daley. P&G, the world's largest
consumer goods company, devotes about 30 %of its $1.9bn in annual
research and development spending to low-income markets, a 50 % increase
from 5 yrs. ago. Consumer research: spend time in consumers' homes to
gain insights into daily habits; Cost innovation: use proprietary
technology to design low-income products; Innovation productivity: use
"matchmakers" such as InnoCentive; Manufacturing efficiency: cut mfg.
costs by developing a network of suppliers in China, Brazil, Vietnam and
India.
P&G  BRIC  market_research  consumer_research  primary_field_research  customer_insights  innovation  Bottom_of_the_Pyramid  A.G._Lafley  InnoCentive  supply_chains  China  Brazil  Vietnam  India  observations  insights  cost-structure  jugaad  proprietary  behavioural  cost-cutting  match-making  CPG  low-income 
december 2009 by jerryking
Marketers Pursue the Shallow-Pocketed - WSJ.com
Jan. 26, 2007 | WSJ | By ANTONIO REGALADO. Interpublic Group's
McCann World Group in 2005 polled 15 of its major advertising clients.
These clients saw their biggest mktg. opportunities as being people
with low incomes....In recent years, mktg. to the poor has become a hot
subject. Univ. of Michigan economist C.K. Prahalad helped popularize the
idea with his 2004 book "The Fortune at the Bottom of the Pyramid,"
which argued big companies could profit and help the world's 4 billion
poor or low-income people by finding innovative ways to sell them soap
and refrigerators....Some companies have already been tackling
low-income mkts. by revamping distribution sys., or tweaking products so
that they are simpler or less expensive. E.g., Nestlé Brazil saw sales
of its Bono cookies jump 40% last year after it shrank the package to
140 g. from 200 g. and dropped the price... Illiteracy is one big
challenge...The strong role that community plays in poor neighborhoods
is of particular interest.
advertising_agencies  C.K._Prahalad  marketing  market_research  BRIC  Bottom_of_the_Pyramid  low-income 
december 2009 by jerryking
A Night's Sleep, Ultracheap
JANUARY 23, 2006 | Business Week | Pete Engardio
Tata  C.K._Prahalad  hotels  budgets  low-income 
december 2009 by jerryking
Business Prophet
JANUARY 23, 2006 | Business Week | By Pete Engardio. Strategy
guru C.K. Prahalad is changing the way CEOs think. Prahalad's 2004 work
on the topic that today's needy masses are the future of the global
economy. His book, The Fortune at the Bottom of the Pyramid, has been
hailed as one of the most important business books in recent years and
turned Prahalad into a celebrity in the field of international
development. Trickle-up innovation.
trickle-up  strategy  India  reverse_innovation  C.K._Prahalad  management_consulting  gurus  Bottom_of_the_Pyramid  Indians  global_economy  low-income 
december 2009 by jerryking
Indian Firms Shift Focus to the Poor
Oct 20, 2009 | Wall Street Journal pg. A.1 | by Eric Bellman.
With the developed world mired in a slump and the developing world
still growing quickly, companies are focusing on how to innovate, and
profit, by going straight to the bottom rung of the economic ladder.
They are taking advantage of cheap research and development and low-cost
manufacturing to innovate for a market that's grown large enough and
sophisticated enough to make it worthwhile. Instead of using
traditional supply chains, many companies are distributing through rural
self-help groups and micro-lenders that are already plugged into
villages. And while profit margins are slim, companies are counting on
volume to compensate. Many hope to sell to other poor and underserved
markets in Asia and Africa eventually. Trickle-up innovation.
trickle-up  underserved  reverse_innovation  emerging_markets  socioeconomic  Bottom_of_the_Pyramid  jugaad  developed_countries  supply_chains  manufacturers  R&D  microlending  microfinance  low-cost  Indians  low-income 
november 2009 by jerryking

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