Thats the message from the latest book by former dean of Indian School of Business Prof Vijay Mahajan. Titled Profit from the Worlds Largest Untapped Market: Africas MORE THAN 900 MILLION Consumers! the book was released recently by Wharton Business School Publishing.
With more than 900 million consumers, the continent of Africa is one of the worlds fastest growing markets. In Africa Rising, Vijay Mahajan reveals this remarkable marketplace as a continent with massive needs and surprising buying power. Crossing thousands of miles across the continent, he shares the lessons that Africas businesses have learned about succeeding on the continent. In the book he shows how global companies are succeeding despite Africas unique political, economic, and resource challenges and introduces local entrepreneurs and foreign investors who are building a remarkable spectrum of profitable and sustainable business opportunities even in the most challenging locations.
The book aims to drive home a few points about marketing opportunity of Africa, often dubbed as the Dark Continent.
Recognize that Africa is richer than you think: Africa is richer than India on the basis of gross national income (GNI) per capita, and a dozen African countries have a higher GNI per capita than China.
Aim for Africa Two: Opportunities exist in all parts of the market, particularly the 400 million people in the middle of the market.
Find opportunities to organize the market: From retailing to cell phones to banking, companies are succeeding by building infrastructure.
Develop strategies for the most youthful market in the world: Companies are recognizing opportunities from diapers to music to medicine in a market growing younger every day.
Build Ubuntu markets: Create profitable businesses, sustainable growth, and social organizations by meeting basic human needs.
The book seems to have struck a chord with Business leaders across the world. In the endorsements of the book, E. Neville Isdell, Chairman and Chief Executive Officer, The Coca-Cola Company, USA says, This book lays out a powerful portrait of the growing opportunities in Africa. It is clear to us that any global firm interested in growth must see Africa as an essential part of its portfolio.
Ratan N. Tata, Chairman, Tata Group, India, comments, This book presents a compelling argument for waking up to the potential of a continent with a population of over 900 million and a high rate of growth. The African continent is rich in natural resources and presents opportunities across a wide cross-section of industrial and commercial areas for companies with appropriate business strategies and a genuine commitment to improving the quality of life of the local population.
The book also talks about how China and India are building their presence in Africa market.
Vijay Mahajan holds the John P. Harbin Centennial Chair in Business at McCombs School of Business, University of Texas at Austin. He has received numerous lifetime achievement awards including the American Marketing Association (AMA) Charles Coolidge Parlin Award for visionary leadership in scientific marketing. The AMA also instituted the Vijay Mahajan Award in 2000 for career contributions to marketing strategy. Mahajan is author or editor of nine books.
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Thats the message from the latest book by former dean of Indian School of Business Prof Vijay Mahajan. Titled Profit from the Worlds Largest Untapped Market: Africas MORE THAN 900 MILLION Consumers! the book was released recently by Wharton Business School Publishing.
With more than 900 million consumers, the continent of Africa is one of the worlds fastest growing markets. In Africa Rising, Vijay Mahajan reveals this remarkable marketplace as a continent with massive needs and surprising buying power. Crossing thousands of miles across the continent, he shares the lessons that Africas businesses have learned about succeeding on the continent. In the book he shows how global companies are succeeding despite Africas unique political, economic, and resource challenges and introduces local entrepreneurs and foreign investors who are building a remarkable spectrum of profitable and sustainable business opportunities even in the most challenging locations.
The book aims to drive home a few points about marketing opportunity of Africa, often dubbed as the Dark Continent.
Recognize that Africa is richer than you think: Africa is richer than India on the basis of gross national income (GNI) per capita, and a dozen African countries have a higher GNI per capita than China.
Aim for Africa Two: Opportunities exist in all parts of the market, particularly the 400 million people in the middle of the market.
Find opportunities to organize the market: From retailing to cell phones to banking, companies are succeeding by building infrastructure.
Develop strategies for the most youthful market in the world: Companies are recognizing opportunities from diapers to music to medicine in a market growing younger every day.
Build Ubuntu markets: Create profitable businesses, sustainable growth, and social organizations by meeting basic human needs.
The book seems to have struck a chord with Business leaders across the world. In the endorsements of the book, E. Neville Isdell, Chairman and Chief Executive Officer, The Coca-Cola Company, USA says, This book lays out a powerful portrait of the growing opportunities in Africa. It is clear to us that any global firm interested in growth must see Africa as an essential part of its portfolio.
Ratan N. Tata, Chairman, Tata Group, India, comments, This book presents a compelling argument for waking up to the potential of a continent with a population of over 900 million and a high rate of growth. The African continent is rich in natural resources and presents opportunities across a wide cross-section of industrial and commercial areas for companies with appropriate business strategies and a genuine commitment to improving the quality of life of the local population.
The book also talks about how China and India are building their presence in Africa market.
Vijay Mahajan holds the John P. Harbin Centennial Chair in Business at McCombs School of Business, University of Texas at Austin. He has received numerous lifetime achievement awards including the American Marketing Association (AMA) Charles Coolidge Parlin Award for visionary leadership in scientific marketing. The AMA also instituted the Vijay Mahajan Award in 2000 for career contributions to marketing strategy. Mahajan is author or editor of nine books.
| Check Top MBA Colleges in India by Cities | | |
| Also Read Important Articles on MBA Admission | ||
| Top MBA Colleges in India | MBA Admission | MBA Entrance Exam |
| MBA Placements | MBA Ranking In India | GD Topics |
After India and China, the next big unchartered market is Africa. And corporate must put their Africa Plan sooner than they thought its needed.