Building Trust with the Next Billion

Article By Nandini Das Ghoshal

Reproduced here with permission of Insights & More:

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Low Income and emerging markets are now the focus of almost all consumer product companies who have big growth ambitions. The next billion will come from there. This billion will not only include the lower income consumers in China, India or Brazil but also the newly emerging economies in Africa, Latin America, Central Asia and the ASEAN regions.

However, foreign brands fail again and again with their communication at the launch stage and very often cannot really figure out the reason for that. Our analysis shows that there is deep sense of mistrust that exists amongst consumers in low income markets. Most of the time, they do not trust new brands and hence find their benefit articulation irrelevant.

Foreign brands need to be cognizant of this issue and address it right away.

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