Selling to the Poor: Making Global Markets Work

5/14/2004

From: Jeffrey Marn of Foreign Policy, 202-939-2242 or jmarn@ceip.org,
or Christopher Lagan of the World Resources Institute, 202-729-7684 or clagan@wri.org

News Advisory:

The world's 4 billion poor people constitute the largest untapped consumer market on Earth. They are also an often- overlooked source of innovation and sustainable entrepreneurship. In a controversial and provocative article in the May/June 2004 issue of "Foreign Policy" magazine ("Selling to the Poor"), preeminent business scholars Allen L. Hammond and C.K. Prahalad argue that corporations can help end the economic isolation of the world's poorest citizens if they stop thinking of the poor as objects of charity and, instead, work with them as consumers, innovators, and suppliers. To get it right, businesses must shed old concepts of marketing, distribution, and research.

On Wednesday, May 19, 2004, Allen Hammond will discuss and field questions about his "Foreign Policy" article in a media briefing at the National Press Club. He will also introduce new market research on the structure of poverty in developing countries and announce plans for a groundbreaking international conference later this year.

WHO: Allen L. Hammond, vice president for innovation, World Resources Institute; moderated by Michael C. Boyer, associate editor, "Foreign Policy"

WHAT: A briefing for journalists and other interested parties

WHEN: Wednesday, May 19, at 8:30 a.m.

(Continental breakfast will be served)

WHERE: Lisagor Room, The National Press Club, 13th floor,
529 14th Street NW, Washington, D.C., 20045
(Metro: Red/Orange/Blue Lines, Exit: Metro Center)