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More than four billion people live on less than $2 a day. Fisher Investments believes large consumer product companies generally assumed for many years this represented a non-viable market. While the individual buying power for those earning less than $2 per day certainly presents challenges, in aggregate there is a significant latent opportunity.
Multinational corporations can create vast new markets if they can solve the puzzle of providing profitable products to emerging markets consumers. The first step is to drop preconceived notions on merchandise product development. Simply stated, Fisher Investments believes EM countries are a different ballgame. This presents complications for MNCs that relied on many of the same growth and execution strategies for years. To be successful in emerging markets, a company must fundamentally alter how they design, manufacture, distribute, and market products.
Fisher Investments knows product innovation requires tweaking business plans to meet the highly individualized needs of the typical EM consumer. After years of trial and error and large-scale investment in ethnographic research, here are some innovative approaches MNCs are using to successfully roll out products to the masses.
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