3 Review(s)

The $10 Trillion Prize: Captivating The Newly Affluent In China And India, written by a group of BCG colleagues, takes an in-depth look into the taste, ambitions, and behaviours of consumers in these two nations. Summary Of The Book The $10 Trillion Prize: Captivating The Newly Affluent In China And India, is a book that looks into the similarities and dissimilarities of India and China, and segments the market based on education, gender, wealth, geography, and more. The $10 Trillion Prize: Captivating The Newly Affluent In China And India begins with an introduction which speaks about the dramatic growth in consumption that is taking place in Asia. The first part of this book, Rise of the New Consumer in China and India, focuses on the rapidly rising middle class. Furthermore, the authors explain what is exactly defined as the middle-class. This portion of the book also concentrates on the growth of the new female consumers. Preferences, Appetites, and Aspirations forms the second part of this captivating book. The topics covered here are luxury, acquired tastes, and education. The authors have carefully studied the changing customer habits in these two emerging Asian superpowers. The following section, The Lessons for Business Leaders, explains how to manage volatility, and captivate the newly affluent. The book is filled with case studies based on companies like PepsiCo, KFC, BMW, Kraft, Gucci, and Oreo. It explains how it is important for brands to tailor their products as per the local taste. LG makes microwaves that have settings based on geographical location. The $10 Trillion Prize: Captivating The Newly Affluent In China And India is a unique book as it studies the dreams, ambitions, and hopes of the consumers in these two emerging economies. It has been written using research material from Boston Consulting Group’s global survey of 24,000 consumers. About The Authors Michael J. Silverstein, born in 1955, is an American business consultant and author. He has written Women Want More: How to Capture Your Share of the World's Largest, Fastest-Growing Market, and Trading Up: Why Consumers Want New Luxury Goods And How Companies Create Them. Silverstein has a BA in History and Economics from Brown University. He also holds an MBA from Harvard Business School. In 1980, the author joined the Boston Consulting Group, and is presently a senior partner and managing director. He regularly contributes to Bloomberg Television, and is a member of the Goodman Theatre Board. Abheek Singhi is the head of consumer and retail practice at Boston Consulting Group. Singhi has been the India Leadership Initiative Fellow of the Aspen Institute. He is also a member of the National Retail Committees of the Confederation of Indian Industry, and the National FMCG Committee. He has authored many seminal reports, such as Building a New India and The Tiger Roars. Carol Liao is the Managing Director of BCG Greater China. She is based in Hong Kong. David Michael is a Senior Partner and Managing Director of BCG, and the Co-Leader of BCG's Center for Consumer and Customer Insight. He has also written Serious Games: Games That Educate, Train and Inform, and Arclight: Book One: The Decade of Correction. Michael did his BA in Economics from Harvard University, and followed this with an MBA from Stanford University. He has been with BCG from 1992.