Most global businesses focus nearly all their efforts on selling to the wealthiest 14 percent of the world’s population. However, renowned Indian social entrepreneur, author and marketing expert Dr. Vijay Mahajan says there is an “invisible market” that many businesses fail to consider.

Mahajan will examine “Invisible Global Marketing to the Other 86 percent” at the Viewpoints Distinguished Speaker-Dinner series Jan. 17 at the Lakeway Activity Center. The doors open at 5:30 p.m., dinner is served at 6 p.m., and the speaker is introduced at 7 p.m.
Mahajan believes the “other 86 percent” is an estimate of people living in countries with per capita gross national product of less than $10,000. Of the world’s six billion-plus inhabitants, only 14 percent live in countries where this measure is more than $10,000.
“It’s getting harder and harder to make a profit for corporations because they only market to developed nations,” Mahajan said. “These markets are oversaturated, over-competitive, and declining.”
The “invisible market” is the primary theme he has examined in his books — which includes Convergence Marketing, The 86% Solution (written with Kamini Banga) and his latest release — Africa Rising.
According to Mahajan, companies can no longer afford to not pay attention to emerging economies. The 86% Solution book is a persuasive argument that is full of nitty-gritty advice and practical examples.
The book is likely to appeal to managers trying to expand market reach as well as managers in developing countries who want to think differently about strategies that may succeed in their own environment.
In Africa Rising, Mahajan asserts that many global companies are succeeding despite continent’s unique political, economic and resource challenges.
“I was surprised to learn that the continent of Africa actually has a higher gross domestic product than India,” Mahajan said. “They (India and Africa) have very compatible populations.”
Mahajan is an Indian social entrepreneur and chairman of BASIX, a group he founded in 1996. BASIX assists the livelihoods of over a million rural poor households with micro-credit, savings and insurance services, agricultural/business development services and institutional development services. He holds the John P. Harbin chair at the McCombs School of Business, University of Texas at Austin. He is a former dean of the Indian School of Business.
If a Viewpoints member cannot attend a dinner, please gift your reservation to a friend. Call Sandi Boston at 261-4733 to report the substitution. If you do not “gift” your reservation, call Boston by the Wednesday before the dinner to cancel your reservation so that Viewpoints will not be charged for your meal.
By Diane Smith, Special to the View