A friend of mine discussed a topic of how two individuals who left their high paying investment banking jobs and started working on India's future defining project UID. As part of UID work their job is to know how government policies can effectively reach the needy 75% of Indian population whose per capita income is 4500 INR. What these guys did is they wanted to know the life of needy population by living it and took a decision of living on 4500 and guess where? In, Indian version of California's silicon valley, 'Bangalore'.
Their expenses are as below
Hut - 1500 Rent
Milk - 500 (16*30)
Rice - 400 (35*12)
Mobile - 300
Current Bill - 100
Vegetables - 600
Groceries - 400
Body Care- 200
Transportation - 450 (15*30)
They started living with above expenses and in a month each lost 3kg of weight though they got brilliant Idea :).They started monitoring daily expenses and are in process of understanding bottlenecks in government's distribution system.They wish to start a NGO type organization which helps in improving Public distribution system.
The idea here is by 2020, 750 million population from BRIC countries are moving from BPL to middle class, during this mass exodus knowing what transpires people's choice in choosing a particular product and how the availability of a cheap but superior quality product can singly handedly define the market position for a company is simply unimaginable. To simply get an idea we can refer to an ubiquitous brand now a days, Apple.They may say its Job's innovation strategies that created the brand but what i got convinced with is Apple products price range vis-a-vis their Quality.Had Samsung come up with similar price range and better quality products Samsung brand could have been in the place where Apple is now. The case study is simply crystal clear in giving the truth. To know how a process/system/company will be successful, looking at it through the window wont help but living in it is sure a first step.
Their expenses are as below
Hut - 1500 Rent
Milk - 500 (16*30)
Rice - 400 (35*12)
Mobile - 300
Current Bill - 100
Vegetables - 600
Groceries - 400
Body Care- 200
Transportation - 450 (15*30)
They started living with above expenses and in a month each lost 3kg of weight though they got brilliant Idea :).They started monitoring daily expenses and are in process of understanding bottlenecks in government's distribution system.They wish to start a NGO type organization which helps in improving Public distribution system.
The idea here is by 2020, 750 million population from BRIC countries are moving from BPL to middle class, during this mass exodus knowing what transpires people's choice in choosing a particular product and how the availability of a cheap but superior quality product can singly handedly define the market position for a company is simply unimaginable. To simply get an idea we can refer to an ubiquitous brand now a days, Apple.They may say its Job's innovation strategies that created the brand but what i got convinced with is Apple products price range vis-a-vis their Quality.Had Samsung come up with similar price range and better quality products Samsung brand could have been in the place where Apple is now. The case study is simply crystal clear in giving the truth. To know how a process/system/company will be successful, looking at it through the window wont help but living in it is sure a first step.
