Marketing to the Poor

Book excerpt: This book looks at markets in low-income economies and how they require fundamentally different marketing systems and strategies. Analyzing the sociocultural characteristics of these markets, it offers solutions for businesses to overcome spatial, institutional, and financial challenges while working in these contexts. Markets for the poor are characterized by resource scarcity, weak institutions, and low literary rates, as well as a strong presence of cultural and community ties. This book provides an understanding of these marketplaces, including the consumer’s wants and aspirations, the relationship of the individual within the social milieu, and their unique cultural contexts. It provides strategies for businesses to develop a bottom-up knowledge of global markets and incorporates practices which are inclusive and sustainable. It also explores the links between human development, entrepreneurship, and marketing which are especially relevant in the pandemic-hit global economy. This book will be of interest to students and researchers of marketing, business studies, business administration, rural management, marketing management, economics, and development studies.