The tough battle of making products for middle India
- What works for rich consumers is unlikely to work for the next half a billion
- To win this market, new entrants have to solve for profitable scale by balancing the three vectors of cost of acquiring the customer, cost of servicing, and being able to price the product right.
Shashank Kumar grew up in a small town in Bihar, in a lower middle-class family. No one in his family had ever run a business. After he graduated from IIT in 2008, he joined a management consulting company. But, deep within, he had an urge to start an agro business—Kumar had an understanding of all the problems in the farming ecosystem. He had witnessed it first-hand as he grew up.