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Article

4 Jun 2007

Author:
Eric Onstad, Reuters

Big firms rush to tap vast market of poor consumers

The world's biggest corporations are scrambling to tap a market they have largely ignored for decades -- the world's 4 billion poor people...[Author C.K.] Prahalad sees the move by big firms as a win-win situation, with companies boosting sales while low-income consumers get access to low-cost, quality goods and new technology...In South Africa…Danone and…Clover have launched a project selling individual pots of vitamin-enriched Danimal yoghurt for 1 rand (14 cents) by a network of women in townships. Danone…promoted the product in schools with a show that teaches the benefits of nutrition. [also refers to Banco Azteca, Elektra, Equity Bank, Nestle, Unilever’s unit Hindustan Lever, Wal-Mart de Mexico (Walmex)]