Untapped

Creating Value in Underserved Markets

John Weiser (Author) | Michele Kahane (Author) | Steve Rochlin (Author) | Jessica Landis (Author)

Publication date: 05/22/2006

Untapped

Tapping underserved markets for consumers, employees, or suppliers is not a new idea in business. When Henry Ford founded the Ford Motor Company in 1903, he proclaimed, "I will build a car for the great multitude." Ford understood that the real profits to be had in the auto business were not in selling luxury items to the well-to-do, but in providing essential transportation for ordinary folks. To achieve this goal, he both changed manufacturing processes to lower production costs, and also doubled his workers' wages to enable them to buy cars--creating the phenomenal success of the Model T. Today, businesses have the opportunity to increase profits and improve underserved communities by selling to them, and hiring and purchasing from them. While previous books have touted business opportunities in these underserved markets, none have outlined the specific strategies necessary to turn this business concept into a detailed business model. Until now.

Based on extensive research and featuring fifty case studies from leading corporations--including IBM, JPMorgan Chase, and Dreamworks--Untapped details the practical dos and don'ts every manager needs to know when approaching a new market. It shows how, by engaging consumers, workers, and suppliers, companies can create win-win partnerships with underserved communities. Corporations will discover a new source of increased sales, qualified workers, and marketable innovations as well as new ways to reduce costs and increase quality. The communities will get better products, more meaningful job opportunities, and an increased market for their own goods and services.

Organized around five key success factors the authors identified during their study of pioneering corporations, this innovative book clearly outlines how to establish the kinds of win-win partnerships that are vital to succeeding in these complex but potentially rewarding markets. Combining practical tools, case studies, and careful analysis, Untapped provides concrete guidance for investing in and partnering with underserved communities to create not only significant competitive advantages but also vibrant communities in which to live, work, and do business.

  • Offers detailed, tested, practical advice to help corporations increase sales, recruit qualified workers, spur innovation, reduce costs, and improve quality by working with overlooked low-income communities
  • Shows how to structure these relationships so that they are beneficial for both the communities and the corporations
  • Features over fifty case studies from leading corporations, including IBM, JPMorgan Chase, and HP

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Book Details
Overview

Tapping underserved markets for consumers, employees, or suppliers is not a new idea in business. When Henry Ford founded the Ford Motor Company in 1903, he proclaimed, "I will build a car for the great multitude." Ford understood that the real profits to be had in the auto business were not in selling luxury items to the well-to-do, but in providing essential transportation for ordinary folks. To achieve this goal, he both changed manufacturing processes to lower production costs, and also doubled his workers' wages to enable them to buy cars--creating the phenomenal success of the Model T. Today, businesses have the opportunity to increase profits and improve underserved communities by selling to them, and hiring and purchasing from them. While previous books have touted business opportunities in these underserved markets, none have outlined the specific strategies necessary to turn this business concept into a detailed business model. Until now.

Based on extensive research and featuring fifty case studies from leading corporations--including IBM, JPMorgan Chase, and Dreamworks--Untapped details the practical dos and don'ts every manager needs to know when approaching a new market. It shows how, by engaging consumers, workers, and suppliers, companies can create win-win partnerships with underserved communities. Corporations will discover a new source of increased sales, qualified workers, and marketable innovations as well as new ways to reduce costs and increase quality. The communities will get better products, more meaningful job opportunities, and an increased market for their own goods and services.

Organized around five key success factors the authors identified during their study of pioneering corporations, this innovative book clearly outlines how to establish the kinds of win-win partnerships that are vital to succeeding in these complex but potentially rewarding markets. Combining practical tools, case studies, and careful analysis, Untapped provides concrete guidance for investing in and partnering with underserved communities to create not only significant competitive advantages but also vibrant communities in which to live, work, and do business.

  • Offers detailed, tested, practical advice to help corporations increase sales, recruit qualified workers, spur innovation, reduce costs, and improve quality by working with overlooked low-income communities
  • Shows how to structure these relationships so that they are beneficial for both the communities and the corporations
  • Features over fifty case studies from leading corporations, including IBM, JPMorgan Chase, and HP
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