The key to successful entry into emerging markets lies in learning about customers in the field through experience. To compete against brands from emerging economies that will come to the fore in the future, it is necessary to learn “emerging market style” strategies. We met Prof. Amitava Chattopadhyay, who has studied firms from emerging markets for more than ten years, and learned those strategies from him.

There was a large segment of low-income population comprising about 1.2 billion people, with incomes between US$2-5 a day with no bank accounts, no access to modern financial services, no phones, dependent on informal or subsistence livelihoods and lacked access to amenities and basic healthcare. Addressing these unmet needs could create significant market opportunities for businesses while also contributing to social goals. This was particularly true in the healthcare market, where the BOP had long been underserved. Many Asian and African countries, where the BOP typically were, faced the double burden of infectious diseases and increasing rates of non-communicable diseases such as diabetes, cardiovascular diseases etc. Novartis decided that it was time to seriously consider the possibility of commercial opportunities amongst the world’s poor, notably India.