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Publisher of THE FUTURIST, Futures Research Quarterly, and Future Survey

Contact: Clifton Coles
301/656-8274

FOR IMMEDIATE RELEASE 

TROLLING FOR THIRD-WORLD DOLLARS

BETHESDA, MD — The largest market in the world doesn’t show up on most corporations’ radar screens.

They are the world’s poor — 4 billion potential shoppers and buyers overlooked and underserved by the world’s multinational corporations, says global business consultant Medard Gabel. They spend more than $2 trillion annually, and the potential for more spending is astronomical.

"Four billion additional customers are out there," Gabel says in the latest issue of THE FUTURIST magazine. "They are growing in number and purchasing power. It will be the bold and visionary leader who goes after them."

These 4 billion are at the base of the economic pyramid, but Gabel thinks it is a serious mistake to ignore them or think they are uninterested in products and services available to residents in wealthier nations. Companies like Hewlett-Packard, Unilever, Ericsson, and Cemex are already successfully negotiating this burgeoning market. Unilever, for example, packages detergent in single-laundry packets for sale by small shops and street vendors to reach poorer customers, who appreciate the smaller size and the lower price.

Medard offers these tips for serving the underserved.

Rethink the connections between products and services and the needs of the millions in emerging markets. The way a product is manufactured, packaged, and sold in developed countries may not work in a developing country. An organization must reconceptualize what it is doing and how it does business in order to tap this new market.

Start small, with one product in one nation, for example. Learning everything about one market offers lessons that can be applied to the next market.

Long-term commitment is vital. Tapping this potential source may not yield results overnight, and organizations must be prepared to wait for the payoff, but the wait can be very worthwhile.

"Vision, boldness, and pragmatism will be richly rewarded with sustainable profits and expanding markets in a shrinking world," Gabel maintains.

Gabel’s article "Where to Find 4 Billion New Customers" is featured in the July-August 2004 issue of THE FUTURIST, available for $4.95 at bookstores and newsstands and from the World Future Society, 7910 Woodmont Ave., Suite 450, Bethesda, MD 20814.

EDITORS: For more information contact Clifton Coles at 301/656-8274; fax 301/951-0394; e-mail ccoles@wfs.org. 6/5/04

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