Saturday, December 12, 2009
P&G and Global Expansion
href="http://www.nytimes.com/2009/12/12/business/global/12procter.html?emc=eta1">
In reference to this article, we are curious to hear your thoughts. P&G, like many other MNCs are entering global markets aggressively - specifically in India, wanting to further penetrate markets in rural India... however, while many MNCs find market opportunities, they have yet to really understand the end consumer... namely rural households ... when MNCs are willing to invest a substantial amount to research, relate and market to this segment, they will be able to make larger impacts in this market.
Friday, November 27, 2009
Frontier Markets Featured in MF Insights
Frontier Markets Founder/CEO, Ajaita Shah, has written an article about innovations in marketing which was featured in the Microfinance Insights Magazine's 15th issue in November.
Please see the attached link to read the article.
/FM%20Article.pdf
Please visit Microfinance Insights at
ThinkChange India Post...
Ajaita Shah is the Founder of Frontier Markets. She has 4 years of microfinance experience as a Credit Plus Manager at Ujjivan Financial Services, and Director for Swayam Krishi Sangam (SKS). She has consulted with the Social Performance Task Force through CGAP and Ford Foundation about microfinance in South Asia. Ajaita holds her B.A. in International Relations from Tufts University.
The Bottom of the Pyramid (BOP) is a demand heavy and relatively accessible market growing at a steady rate every year. However, there are some major challenges to fully penetrate this market: low infrastructure and accessibility for product distribution, insufficient understanding of the rural consumer, high upfront investments for staffing, and transportation, and high levels of illiteracy. Therefore, alternatives to traditional mass marketing strategies and tactics are necessary to open up rural markets and create consumer demand efficiently and effectively. Frontier Markets is creating the most sustainable and cost-effective model for base-of-the-pyramid market entry through its affiliation with Microfinance Institutions.
Ajaita Shah is the Founder of Frontier Markets. She has 4 years of microfinance experience as a Credit Plus Manager at Ujjivan Financial Services, and Director for Swayam Krishi Sangam (SKS). She has consulted with the Social Performance Task Force through CGAP and Ford Foundation about microfinance in South Asia. Ajaita holds her B.A. in International Relations from Tufts University.
The Bottom of the Pyramid (BOP) is a demand heavy and relatively accessible market growing at a steady rate every year. However, there are some major challenges to fully penetrate this market: low infrastructure and accessibility for product distribution, insufficient understanding of the rural consumer, high upfront investments for staffing, and transportation, and high levels of illiteracy. Therefore, alternatives to traditional mass marketing strategies and tactics are necessary to open up rural markets and create consumer demand efficiently and effectively. Frontier Markets is creating the most sustainable and cost-effective model for base-of-the-pyramid market entry through its affiliation with Microfinance Institutions.
Frontier Markets, a start-up founded by microfinance professionals, has studied the barriers to BOP market entry and will test an innovative approach to address these challenges. Our aim is to provide the “last mile connectivity” through a network of microfinance institutions without diluting their core lending business. We focus on non-financial health and hygiene, clean water and energy alternatives that will make the greatest impact on the lives of rural villagers. Customer insight certainly drives product selection but it is our understanding of the MFI dynamic that determines which products and services can be linked to the microfinance model successfully.
Frontier Markets emulates the MFIs in one key respect: the consumer is at the center of the equation. Our methodology is to gather insight from consumers; market to them directly; and, use our understanding of the BOP to inform MFIs and manufacturers of emerging opportunities and persistent risks that may thwart their plans for market penetration. We shift the initial conversation from product promotion to a deeper understanding of women’s needs and “shared human aspirations — for safety, for dignity, for a better life for one’s children.”1 Our “high touch,” below-the-line marketing strategy encompasses two critical steps: (1) educating consumers about health, hygiene, clean water and energy alternatives; and, (2) retailer capacity building to maintain product availability and quality assurance.
In October 2009, Frontier Markets completed a small scale pilot to market health and hygiene products to BOP households with Ujjivan Financial Services in Northern Karnataka. The pilot was successful, proving that P2P marketing encourages BOP women to consider healthy alternatives.
During the pilot, Frontier Markets trained local field staff to reach out to consumers at multiple touch points in peri-urban and rural areas. FM field staff placed Proctor & Gamble and Ranbaxy products directly with MFI “preferred retailers.” During this intervention, the Frontier Markets team provided basic product and financial literacy training for retailers. Finally, the FM team validated whether the products and services introduced were meeting the expectations of consumers, in terms of utility, value and quality.
Additionally, Frontier Markets developed reporting tools with MNC clients in mind, to ensure that we captured meaningful data to inform future product development, pricing, marketing and distribution strategies. While in Karnataka, our field staff and Project Managers continually sharpened the focus of marketing messages; improved operational processes; and, verified the accuracy and meaningfulness of daily reporting.
Here are the results of the pilot:
Reached 734 MFI members + 56 non-MFI members in 43 center meetings.
Placed product in 25 kirana shops.
Achieved a 13% conversion rate (one time sales) among 778 members for Whisper Sanitary Napkins.
Achieved a 23% conversion rate (one time sales) among 778 members for Volini Gel.
Conducted 40 product feedback surveys at center meetings.
80% of women respondents liked Whisper napkins.
76% of women respondents said they will use Whisper napkins in the future.
80% of women respondents liked Volini Gel.
76% of women respondents said they will use Volini Gel in the future.
Conducted 43 1:1 customer insight surveys.
Conducted 25 retailer surveys.
68% of retailers were willing to re-stock Whisper.
76% of retailers think it is a useful product for consumers.
80% of retailers were willing to re-stock Volini.
76% of retailers think it is a useful product for consumers.
The pilot proved that the model of peer-to-peer marketing works. FM’s Peer-to-Peer strategy focused on a ground up approach instead of top down marketing push. Using dynamic field staff to engage women directly, they became actively involved in understanding the product and its relevance to their daily lives. FM will continue using Peer-to-Peer marketing and retailer network-building as an effective means of community engagement. Additionally, we provided an easy mechanism for retailer sales reporting. FM require a tracking system to ensure that kirana shops within our network will maintain their performance over time as we plan to launch other products through this same channel. We also asked these members to provide us feedback on our engagement. Women responded positively and appreciated our intention to educate them about health and hygiene and introduce products that provide an immediate benefit. One woman said, “I think it is such a great opportunity for us to learn. I did not know about any of these things before you came. You teach us, talk to us, and make us feel good. Please keep coming.”
Frontier Market’s goal for 2010 is to conduct one large pilot covering an entire MFI branch. We will most likely work with Grameen Koota on this pilot, which can lead to a full scale product launch throughout the state of Karnataka in 2011.
Our core mission is to benefit the Microfinance sector through innovation and service to its members. Frontier Markets educates and brings high quality, affordable products that address a real need for MFI members. We conduct community engagement and discourse which re-inscribes the spirit of belonging that MFI members enjoy. Through our activities in the field, we seek to reinforce the trust and burnish the MFI brand.
1 – Judith Warner, “Domestic Disturbances,” The New York Times, October 1, 2009
Thursday, November 26, 2009
Frontier Markets Launches its new website!
Dear All,
Please visit Frontier Markets' webpage for the latest information about our work, links to articles, information about our partners and clients.
http://www.frontiermkts.com
Please visit Frontier Markets' webpage for the latest information about our work, links to articles, information about our partners and clients.
http://www.frontiermkts.com
Frontier Markets Retail Network: Kirana Shops
One of the biggest challenges of bringing products to the people is understanding the channel to reach the households. There have been tons of innovative approaches to bring products to the people in the past, we want to focus on the oldest channel - Kirana Shop.
alt="Kirana Shop that adopted FM marketed products" width="450" height="337" />[/caption]
Which Kirana Shop?
The Kirana Shop comes in various sizes - for our purpose, we will focus on the Kirana Shop providing products for the BOP. This Kirana Shop has an owner who is a local member of the peri-urban slum or rural village. Usually, a family business, husband and wife are working together at the Kirana Shop where they stock 10-30 products for local households.
What does the Kirana Shop Stock?
The products range from soaps, to sache shampoos, hair oil, agarbatti, beedis, cigarettes, matches, biscuits, washing powder soap, tea, sugar, to some fresh produce. They have been stocking similar products for as long as they started their business because they respond to their neighbors' demand, as well as assess their capacity to stock a product for a period of time.
The Kirana Shop Owner is not like your typical supplier or retailer. While they too believe in margins, and try to understand trends, they are always willing to try new products if they feel their neighborhood demands it. They know their consumers inside and out. They are also extremely risk averse because of their capacity to invest in new products. So the question is, how to break their aversion?
By showing them the demand potential...
By marketing to women in MFI centers, we are able to introduce them to products that they have not directly encountered. (Direct = in person, in their daily life, as compared to an advertisement on tv). If they like the product, they want the product... we introduce them to their retailers who will provide them with that product.
Frontier Markets' target was to approach 10-12 kirana shops to place products for MFI members to purchase. We placed at 25 kirana shops who were happy to try a new product in their store knowing the demand was apparent since MFI members approached their stores asking for specific products.
Kirana Shop - The Local Retailer
Kirana Shops are THE supplier of non-medical products for the semi-urban and rural bop. Their products are usually FMCG (Fast Moving Consumer Goods) based because they are affordable for their target consumers. The most expensive product is usually rs. 15-20 which is the colgate toothpaste, and least expensive is ps. 10 which is a sachet or candy.
Kirana Shops cater to all types of consumer:
Children: biscuits, candy, pens, notebooks
Women: shampoo, soap, powder, hair oil, agarbattis, some produce, masalas, tea leaves, cooking oil
Men: beedis, cigarettes, matches
Usually, they re-stock their products on a weekly basis; the method simply being visiting their local distributor with a list of products and collecting them. Their sales reporting and inventory management is usually a piece of paper with names of products. When asking them how they keep track of what products they need to refill, a typical response is "When it seems to be less, I go to the shop to get more." While this may seem to be an irresponsible way to inventory management, they are very well aware of which products need high volume storage, and which products can be kept in small bulks.
A kirana shop, or retailer's margin ranges from 10-12%. They are advised by the local distributor on price points - selling the products at the assigned MRP. The distibutor takes a 2-5% margin when selling products to retailers. Depending the product, and the company's preference, a retailer either pays upfront, or has 5-7 days to pay for their stock. This leeway allows for more movement of the product, and naturally, risk for the retailer. This is the number one reason a kirana shop owner does not like to try new products unless there is an obvious demand for that product.
This does not mean that Kirana Shops do not test new products. If there is a solid margin, and they have heard of the product, they will give it a try - as long as they do not have to pay upfront costs. (which usually means, a new type of soap, or hair dye - in line with FMCG products) Many local distributors recieve new products from their manufacturers who encourage trial sales before they order large volumes of product. If Kirana Shops are successful in selling the product, they will then place larger orders to stock.
KiranaShops also promote products for companies. For example, when Airtel penetrated rural India, many Kirana Shops kept Airtel boards in their shops. If they like the product, they are willing to promote and advertise on the company's behalf.
Kirana Shop Owners are trusted in their neighborhoods. Most households have their favorite kirana shop they visit. When asked why customers come to their shop, they usually answer, "I have been here the longest." or "I let people pay me back later." or "I carry the products that people want."
alt="Kirana Shop that adopted FM marketed products" width="450" height="337" />[/caption]
Which Kirana Shop?
The Kirana Shop comes in various sizes - for our purpose, we will focus on the Kirana Shop providing products for the BOP. This Kirana Shop has an owner who is a local member of the peri-urban slum or rural village. Usually, a family business, husband and wife are working together at the Kirana Shop where they stock 10-30 products for local households.
What does the Kirana Shop Stock?
The products range from soaps, to sache shampoos, hair oil, agarbatti, beedis, cigarettes, matches, biscuits, washing powder soap, tea, sugar, to some fresh produce. They have been stocking similar products for as long as they started their business because they respond to their neighbors' demand, as well as assess their capacity to stock a product for a period of time.
The Kirana Shop Owner is not like your typical supplier or retailer. While they too believe in margins, and try to understand trends, they are always willing to try new products if they feel their neighborhood demands it. They know their consumers inside and out. They are also extremely risk averse because of their capacity to invest in new products. So the question is, how to break their aversion?
By showing them the demand potential...
By marketing to women in MFI centers, we are able to introduce them to products that they have not directly encountered. (Direct = in person, in their daily life, as compared to an advertisement on tv). If they like the product, they want the product... we introduce them to their retailers who will provide them with that product.
Frontier Markets' target was to approach 10-12 kirana shops to place products for MFI members to purchase. We placed at 25 kirana shops who were happy to try a new product in their store knowing the demand was apparent since MFI members approached their stores asking for specific products.
Kirana Shop - The Local Retailer
Kirana Shops are THE supplier of non-medical products for the semi-urban and rural bop. Their products are usually FMCG (Fast Moving Consumer Goods) based because they are affordable for their target consumers. The most expensive product is usually rs. 15-20 which is the colgate toothpaste, and least expensive is ps. 10 which is a sachet or candy.
Kirana Shops cater to all types of consumer:
Children: biscuits, candy, pens, notebooks
Women: shampoo, soap, powder, hair oil, agarbattis, some produce, masalas, tea leaves, cooking oil
Men: beedis, cigarettes, matches
Usually, they re-stock their products on a weekly basis; the method simply being visiting their local distributor with a list of products and collecting them. Their sales reporting and inventory management is usually a piece of paper with names of products. When asking them how they keep track of what products they need to refill, a typical response is "When it seems to be less, I go to the shop to get more." While this may seem to be an irresponsible way to inventory management, they are very well aware of which products need high volume storage, and which products can be kept in small bulks.
A kirana shop, or retailer's margin ranges from 10-12%. They are advised by the local distributor on price points - selling the products at the assigned MRP. The distibutor takes a 2-5% margin when selling products to retailers. Depending the product, and the company's preference, a retailer either pays upfront, or has 5-7 days to pay for their stock. This leeway allows for more movement of the product, and naturally, risk for the retailer. This is the number one reason a kirana shop owner does not like to try new products unless there is an obvious demand for that product.
This does not mean that Kirana Shops do not test new products. If there is a solid margin, and they have heard of the product, they will give it a try - as long as they do not have to pay upfront costs. (which usually means, a new type of soap, or hair dye - in line with FMCG products) Many local distributors recieve new products from their manufacturers who encourage trial sales before they order large volumes of product. If Kirana Shops are successful in selling the product, they will then place larger orders to stock.
KiranaShops also promote products for companies. For example, when Airtel penetrated rural India, many Kirana Shops kept Airtel boards in their shops. If they like the product, they are willing to promote and advertise on the company's behalf.
Kirana Shop Owners are trusted in their neighborhoods. Most households have their favorite kirana shop they visit. When asked why customers come to their shop, they usually answer, "I have been here the longest." or "I let people pay me back later." or "I carry the products that people want."
Tuesday, November 10, 2009
Results from the Chitradurga Pilot
Frontier Markets (FM) conducted a 3-week pilot with Ujjivan Financial Services Pvt. Ltd (Ujjivan) in Chitradurga, Karnataka.
Pilot Overview
Frontier Markets introduced Whisper Choice Sanitary Napkins (at the MSRP of 28 Rs.) and Volini Gel (at the MSRP of 5 Rs.) to Ujjivan members in Chitradurga, Karnataka.
Targets
- Reach 50% of 750 MFI members: communicate effectively about health and hygiene issues and introduce both products to peri-urban consumers.
- Place products in 10-12 kirana shops·
- Sales: convert 5% of those exposed to marketing into consumers of one or both products
- Conduct 50 Product Feedback Surveys at Center Meetings
- Conduct 50 1:1 Customer Insight Surveys
- Conduct 12 Retailer Surveys
Results
- Reached 734 MFI members + 56 non-MFI members in 43 Center Meetings
- Placed product in 25 kirana shops
- Conducted 40 Product Feedback Surveys at Center Meetings
- Conducted 43 1:1 Customer Insight Surveys
- Conducted 25 Retailer Surveys
- Achieved a 23% conversion rate among 721 members for Volini Gel
- Achieved an 11% conversion rate among 721 members for Whisper Sanitary Napkins
Analysis
- We proved that the model of peer-to-peer marketing works in a limited pilot.
- A microfinance partnership helped us access bop households efficiently and effectively, enabling us to engage consistently with the same potential consumer base for 3 weeks
- Frontier Markets will build a vast network of Kirana Shops who will be vital to expanding the organized sector of supply chains
- Year 1 may focus on more FMCG related products to ensure this 1:1 engagement and test the capacity of retailer networks
- Complicated products like water purifiers, stoves, etc will require knowing the consumer base's behavioral patterns which FM collects through the current model.
Saturday, September 26, 2009
About Frontier Markets
Frontier Markets is creating the most sustainable and cost-effective model for base-of-the-pyramid market entry through its affiliation with Microfinance Institutions.
Founded by microfinance professionals, Frontier Markets’ mission is to develop and promote goods and services for the BOP. We focus on innovations in health and hygiene, clean water and energy alternatives that will make the greatest impact on the lives of peri-urban and rural women and children in India. Our core values reflect what is most important to us as an organization. These are not values that change over time; rather, they frame every relationship with clients, partners, rural consumers, investors and employees.
Frontier Markets is committed to:
promoting the health and well-being of BOP households through basic education
getting to know rural villagers and peri-urban households through a two-way interaction
satisfying rural and peri-urban consumers by offering a choice of quality products
aligning our goals with microfinance institutional partners to extend their reach
working with manufacturers that care about the environment
supporting professional development and excellence among our employees
creating wealth through profitability and growth
engaging in long-term relationships that bind our success to the success of our clients and partners
About the BOP landscape
Approximately 70% of India’s 1.1 billion population lives outside of major urban areas, in villages scattered throughout the country. In the last decade, government and philanthropic organizations as well as private and public companies have attempted to bring goods and services to the rural poor. Although there have been impressive success stories, some efforts have been thwarted because of a lack of infrastructure; regional and cultural differences; inappropriate product or pricing; and, lack of quality assurance.
Microfinance institutions (MFIs) have proven to be the only service providers able to reach the poor on a very large scale, catering to 20+ million households throughout India. Their in-depth research as well as ongoing, personal relationships with credit customers has yielded incomparable insight into the BOP. Frontier Markets has partnered with Tier 1 MFIs, to leverage their existing distribution channel to bring other, non-financial products to the field.
We believe that improving the quality of life for the BOP is a matter of educating consumers about healthcare, water and energy options and making affordable products available even in the most remote regions.
Tuesday, September 1, 2009
Frontier Markets Pilot: Chitradurga
Frontier Markets has been in Chitradurga, Karnataka for the past 3 weeks conducting our first pilot.
The purpose of the pilot is to test our theory of connectivity and market penetration. We believe there is a new market potential out there - the rural and urban bop are capable of spending and are demanding products to improve their standard of living, however because of lack of infrastructure and awareness, companies are not responding. It is time to break the barriers of communication and penetrate this gap.
Companies like HUL, ITC, Godrej, Coca Cola, and others all understood, so why not J&J, P&G, Ranbaxy, and others? Why not break the norm of the FMCG (Fast Moving Consumer Goods) market and start delivering products that are more complicated and significantly more useful to this sector?
The approach is through Microfinance Institutions. Til date, the CEO (Ajaita Shah) believes she has not encountereed a better infrastructure/system that reaches these households in a direct and efficient way - MFIs today have been able to penetrate vast households and deliver products. Why not use that infrastructure for more products and services?
Using the MFI infrastructure, we can better engage these households and understand their needs... We believe that low touch point marketing is not reaching the bop. We need to understand the barriers and strategically message and reach the bop in a more high touch point, or a peer-to-peer interaction to help educate and explain concepts and lifestyles.
PILOT PROJECT: JULY – NOVEMBER 2009
Frontier Markets is studying various models in which a strategic partnership between public and private companies, MFIs, government and NGOs create the infrastructure necessary to introduce goods and services to the rural poor in India. The field is changing so fast that new opportunities and new questions are emerging all of the time. Our team will work in North Karnataka from August through November to gather quantitative and anecdotal information to shore up our business intelligence and refine the tools we have developed for successful market entry.
During this pilot, we will introduce femine hygiene and other health-related products that would make a demonstrable improvement to the quality of life of bottom of the pyramid households.
Frontier Markets will:
• Clarify the expectations and goals with each partner;
• Develop survey instruments, metrics and reporting tools to ensure that we capture meaningful data to inform future product development, marketing and distribution strategies;
• Cultivate individual relationships to gain consumer insight throughout the pilot;
• Develop marketing materials that are intended to raise health awareness and financial literacy;
• Introduce four products and ask consumers to respond using evaluative criteria;
• Place product with reliable central distributors and village retailers;
• Build retailer capacity by offering training, materials and support;
• Report on sales volume and product integrity through the life of the project;
• Share findings and facilitate a post-flight analysis with the participating partners.
The MNC will:
• Endorse the pilot;
• Supply quantities of products and relevant marketing materials for testing and getting feedback on the product
• Share information about pricing strategy, messaging, current distribution and adoption rate; and, sales goals for rural market;
• Share the current cost structure so we can forecast what it would cost to scale the marketing, sales and distribution and where cost savings might occur to preserve and increase the profit margin.
The Micro-finance institution and Healthcare Partner and will:
• Provide feedback to the scenario for the pilot project;
• Endorse the pilot;
• Share demographic research about one branch in North Karnataka (1500 households, covering one town: Chitradurga, Karnataka);
• Introduce us to 1500 credit customers (included kirana shop retailers) at bank center meetings;
• Provide limited field coordination to execute the pilot project.
• Provide feedback to the evaluative criteria we use to vet products;
• Help us define the benefits and liabilities of various product options;
• Provide feedback on the final product selection and pricing;
• Provide feedback to health awareness and product marketing materials;
• Dedicate a healthcare clinician to join us in the field to educate consumers about the problem and to introduce the product-solution;
• Train the Frontier Markets field staff to communicate effectively about health and hygiene issues to rural consumers. Our goal is to inform consumers about various product options and how they will reduce or eliminate common health and hygiene problems.
Targets
1. Reach 750 MFI members·
2. Place Products in 10-12 kirana shops·
3. 5% conversion of 750 members·
4. Sell 35 units of each product
We will be updating our progress shortly.
The purpose of the pilot is to test our theory of connectivity and market penetration. We believe there is a new market potential out there - the rural and urban bop are capable of spending and are demanding products to improve their standard of living, however because of lack of infrastructure and awareness, companies are not responding. It is time to break the barriers of communication and penetrate this gap.
Companies like HUL, ITC, Godrej, Coca Cola, and others all understood, so why not J&J, P&G, Ranbaxy, and others? Why not break the norm of the FMCG (Fast Moving Consumer Goods) market and start delivering products that are more complicated and significantly more useful to this sector?
The approach is through Microfinance Institutions. Til date, the CEO (Ajaita Shah) believes she has not encountereed a better infrastructure/system that reaches these households in a direct and efficient way - MFIs today have been able to penetrate vast households and deliver products. Why not use that infrastructure for more products and services?
Using the MFI infrastructure, we can better engage these households and understand their needs... We believe that low touch point marketing is not reaching the bop. We need to understand the barriers and strategically message and reach the bop in a more high touch point, or a peer-to-peer interaction to help educate and explain concepts and lifestyles.
PILOT PROJECT: JULY – NOVEMBER 2009
Frontier Markets is studying various models in which a strategic partnership between public and private companies, MFIs, government and NGOs create the infrastructure necessary to introduce goods and services to the rural poor in India. The field is changing so fast that new opportunities and new questions are emerging all of the time. Our team will work in North Karnataka from August through November to gather quantitative and anecdotal information to shore up our business intelligence and refine the tools we have developed for successful market entry.
During this pilot, we will introduce femine hygiene and other health-related products that would make a demonstrable improvement to the quality of life of bottom of the pyramid households.
Frontier Markets will:
• Clarify the expectations and goals with each partner;
• Develop survey instruments, metrics and reporting tools to ensure that we capture meaningful data to inform future product development, marketing and distribution strategies;
• Cultivate individual relationships to gain consumer insight throughout the pilot;
• Develop marketing materials that are intended to raise health awareness and financial literacy;
• Introduce four products and ask consumers to respond using evaluative criteria;
• Place product with reliable central distributors and village retailers;
• Build retailer capacity by offering training, materials and support;
• Report on sales volume and product integrity through the life of the project;
• Share findings and facilitate a post-flight analysis with the participating partners.
The MNC will:
• Endorse the pilot;
• Supply quantities of products and relevant marketing materials for testing and getting feedback on the product
• Share information about pricing strategy, messaging, current distribution and adoption rate; and, sales goals for rural market;
• Share the current cost structure so we can forecast what it would cost to scale the marketing, sales and distribution and where cost savings might occur to preserve and increase the profit margin.
The Micro-finance institution and Healthcare Partner and will:
• Provide feedback to the scenario for the pilot project;
• Endorse the pilot;
• Share demographic research about one branch in North Karnataka (1500 households, covering one town: Chitradurga, Karnataka);
• Introduce us to 1500 credit customers (included kirana shop retailers) at bank center meetings;
• Provide limited field coordination to execute the pilot project.
• Provide feedback to the evaluative criteria we use to vet products;
• Help us define the benefits and liabilities of various product options;
• Provide feedback on the final product selection and pricing;
• Provide feedback to health awareness and product marketing materials;
• Dedicate a healthcare clinician to join us in the field to educate consumers about the problem and to introduce the product-solution;
• Train the Frontier Markets field staff to communicate effectively about health and hygiene issues to rural consumers. Our goal is to inform consumers about various product options and how they will reduce or eliminate common health and hygiene problems.
Targets
1. Reach 750 MFI members·
2. Place Products in 10-12 kirana shops·
3. 5% conversion of 750 members·
4. Sell 35 units of each product
We will be updating our progress shortly.
Meet Frontier Markets: About Us
We staff a client project with a Client Liaison, Senior Analyst, a Project Manager and Customer Service representatives from the region. Each member of the team combines industry expertise with a keen understanding of the culture, the lifestyle, consumption pattern and structure of rural households.
1. Ajaita Shah, Client Liaison, is the Founder of Frontier Markets. She has 4 years of microfinance experience as a Credit Plus Manager at Ujjivan Financial Services, and Director for Swayam Krishi Sangam (SKS). She has consulted with leading MFI organizations, foundations, and universities about microfinance in Latin America and South Asia. She has her B.A. in International Relations and International Development from Tufts University.
2. Caren Rabbino, Senior Analyst, is a seasoned entrepreneur and principal of her own consulting practice in New York City. She has brought her extensive experience in strategic planning and managing operations to more than fifty businesses and non-profit institutions in the U.S. and Latin America. Ms. Rabbino received an M.P.S. degree from New York University (in 2000); both an M.A. (in 1984) and a B.A. (in 1982) from the University of Pennsylvania.
3. Manu Sharma, Project Manager, is a researcher and field practitioner in the arena of finance and international development. She has two years of experience working as a hedge-fund analyst in New York as well as two years of microfinance experience in India working with Intellecap and ACCESS Development Services. Ms. Sharma holds a B.A. in Economics and English from Barnard College, Columbia University.
4. Firdush and Salma - Field Staff - local trained marketers who are enthusiastic and well trained in Frontier Markets principles and strategy. Originally from Devangere, Karnataka are commited to social engagement and speak Hindi, English, and Kannada.
Our Partner
Ujjivan Financial Services Pvt Ltd. is a microfinance company based out of Bangalore, India. Founded in 2001 by Samit Ghosh, Ujjivan is one of the fastest growing and innovative Non-Banking Financial Companies in India. Ujjivan is present in 12 states in India including Karnataka, Tamil Nadu, Haryana, Jharkhand, West Bengal, Orissa, Rajasthan Uttar Pradesh, Uttarkhand, New Delhi, Maharashtra, and Chennai. To date, Ujjivan has disbursed over Rs. 4,754 million to over 400,000 customers with 202 branches across India and plans to expand nationally to serve 2,000,000 customers in 500 branches by 2010.
Samit Ghosh, Chief Executive Officer and Managing Director, pioneered consumer banking in India with Ravindra Bahl and Jaitirth Rao at Citibank in 1985. He subsequently led the launch of retail banking for Standard Chartered in the Middle East and South Asia and for HDFC Bank in India. His last commercial assignment was Chief Executive, India of Bank Muscat. He has had international banking experience for over thirty years. He is an alumnus of Jadavpur University and the Wharton School.
1. Ajaita Shah, Client Liaison, is the Founder of Frontier Markets. She has 4 years of microfinance experience as a Credit Plus Manager at Ujjivan Financial Services, and Director for Swayam Krishi Sangam (SKS). She has consulted with leading MFI organizations, foundations, and universities about microfinance in Latin America and South Asia. She has her B.A. in International Relations and International Development from Tufts University.
2. Caren Rabbino, Senior Analyst, is a seasoned entrepreneur and principal of her own consulting practice in New York City. She has brought her extensive experience in strategic planning and managing operations to more than fifty businesses and non-profit institutions in the U.S. and Latin America. Ms. Rabbino received an M.P.S. degree from New York University (in 2000); both an M.A. (in 1984) and a B.A. (in 1982) from the University of Pennsylvania.
3. Manu Sharma, Project Manager, is a researcher and field practitioner in the arena of finance and international development. She has two years of experience working as a hedge-fund analyst in New York as well as two years of microfinance experience in India working with Intellecap and ACCESS Development Services. Ms. Sharma holds a B.A. in Economics and English from Barnard College, Columbia University.
4. Firdush and Salma - Field Staff - local trained marketers who are enthusiastic and well trained in Frontier Markets principles and strategy. Originally from Devangere, Karnataka are commited to social engagement and speak Hindi, English, and Kannada.
Our Partner
Ujjivan Financial Services Pvt Ltd. is a microfinance company based out of Bangalore, India. Founded in 2001 by Samit Ghosh, Ujjivan is one of the fastest growing and innovative Non-Banking Financial Companies in India. Ujjivan is present in 12 states in India including Karnataka, Tamil Nadu, Haryana, Jharkhand, West Bengal, Orissa, Rajasthan Uttar Pradesh, Uttarkhand, New Delhi, Maharashtra, and Chennai. To date, Ujjivan has disbursed over Rs. 4,754 million to over 400,000 customers with 202 branches across India and plans to expand nationally to serve 2,000,000 customers in 500 branches by 2010.
Samit Ghosh, Chief Executive Officer and Managing Director, pioneered consumer banking in India with Ravindra Bahl and Jaitirth Rao at Citibank in 1985. He subsequently led the launch of retail banking for Standard Chartered in the Middle East and South Asia and for HDFC Bank in India. His last commercial assignment was Chief Executive, India of Bank Muscat. He has had international banking experience for over thirty years. He is an alumnus of Jadavpur University and the Wharton School.
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