A while ago I started writing this essay but never completed it, not sure why? The other day as I started backing up my drive and noticed the file AND as soon as I opened it I had a spark and decided to complete and post it.
It is rare to visit a bookstore (brick mortar or online) and not find a book on the consumer opportunity in BRIC countries. The PPP of the market and its potential, is a brown/green pasture for most marketers. I like to think of it as the threshold in transforming from a ‘production economy’ into a ‘consumption economy’.
As marketers it is our imperative to identify her unmet needs, know her as a consumer, understand her as a shopper and engage with her. Create cultural meaning for her unmet need and present her solutions to create those WOW experiences. Communication through the glitz and glamour of advertising and at other times through maven like brand ambassadors.
But this is a SHIFT. A shift in culture from deliberate spending avoidance, saving, picking up products that were okay and cheap to impulse buying, brands as extensions of our personal image and personal gratification from worldly products. It is up to the marketing community to create convincing value proposition to enable this transformation.
This is only the start of the ‘innovation economy’!
