Wealthy side of China and In­dia

Enterprise - - Book Mate -

Ti­tle: The $10 Tril­lion Dol­lar Prize: Cap­ti­vat­ing the Newly Af­flu­ent in China and In­dia Au­thor: Michael J. Sil­ver­stein, Ab­heek Singhi, Carol Liao, David Michael

Pub­lisher: Har­vard Busi­ness Re­view Press (Oc­to­ber 2, 2012) Price: $18.64

No. of pages: 336 pages

The book presents de­tails of the thriv­ing Chi­nese con­sumer mar­ket and the rise of the In­dian econ­omy, analysing house­hold spend­ing, ed­u­ca­tion lev­els and con­sump­tion pat­terns which pro­vide key in­sights into the mar­ket con­di­tions of the two coun­tries. The writ­ers vis­ited China and In­dia to study the eco­nomic in­di­ca­tors and bet­ter un­der­stand the busi­ness psy­che.

The 300-plus page book has smart, ac­tion­able ideas along with in­ter­est­ing facts such as both coun­tries will be­come onebil­lion mid­dle class coun­tries by 2020 and how the con­sumers of both coun­tries will be buy­ing prod­ucts and ser­vices in this $10 tril­lion mar­ket. They ex­am­ine what they de­scribe as the driv­ing spirit of con­sumerism and sug­gest why busi­nesses should adopt a mar­ket seg­men­ta­tion strat­egy for busi­ness ex­pan­sion. A key con­cept dis­cussed is the de­liv­ery of value for money amidst poverty and aus­ter­ity. Where many see China and In­dia as a threat, the book po­si­tions the two neigh­bours as al­lies who can work to­wards re­gional har­mony.

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