Abstract
The beginning of the new millennium signified a number of mile-stones and recognition of new trends that were likely to dominate the world of business and development studies. One such development was the emergence of global discussion on the need to recognize the importance of the world’s disadvantaged inhabitants who, from a business perspective, had been ignored as an irrelevant and unattractive market. Traditionally the focus of business marketing has been on identifying and serving markets that have consumers with a capacity to pay a sustainable price for the product whilst paying arguably superficial attention to these consumers and their communities’ broad social and economic development needs. This is the business model that has shaped the business of multinational corporations (MNCs) and small to medium-size enterprises (SMEs) in the developed world and in many developing countries including Zimbabwe. But is this model relevant to the economic and social make-up of a country such as Zimbabwe which has undergone significant and dynamic cycles of change? This chapter seeks to address this question by exploring emerging new markets and ways of doing business that are influenced by the changed environment and which are responsive to the needs and demands of these new markets.
Original language | English |
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Title of host publication | Beyond the Crises: Zimbabwe's Prospects for Transformation |
Editors | Tendai Murisa, Tendai Chikweche |
Place of Publication | Zimbabwe |
Publisher | Weaver Press |
Pages | 242-286 |
Number of pages | 45 |
ISBN (Electronic) | 9781779222831 |
ISBN (Print) | 9781779222855 |
Publication status | Published - 2015 |
Keywords
- bottom of the pyramid
- marketing
- economics
- Zimbabwe