(182 Total References)
Keith Teichmann, ITT ...
Keith Teichmann, ITT Interconnect
"Many of us in the water ...
"Many of us in the water business - Xylem and its peers - are engaging in a lot of the same strategies: premium products in premium markets," said Keith Teichmann, vice president and director of innovative networks and marketing at Xylem in an interview with Global Envision.
But during a brainstorming session, Teichmann
says, the water technology giant recognized a huge missed business opportunity.
"Senior level strategic people ... looked at each other and said, 'What if we did something really different, something really wacky?
What if we upend that traditional model and go for the base of the [economic] pyramid?
Take our 100-plus years of technology and repurpose it into something that works in solving issues there.' "
developed the Essence of Life program to focus on the water needs of the 1.5 billion smallholder farmers who live on less than $2.50 per day, said Teichmann
Teichmann answered by sharing what he learned during an interview in Nairobi with a World Bank consultant.
said, 'I see a lot of people come, and I've seen a lot of people go,'" recalled Teichmann
"'They don't come here with the idea of setting up a business model and, as a consequence, they fail very quickly.
And in their failing, they do as much a disservice as people who never came.'"
Without a sustainable business plan, efforts to help the poor can burn out.
Although the profit margin on Essence of Life products is smaller than other products, Teichmann
said it's vital.
"Do we make the same amount of money that we make on very high end products?
In projecting profit, Teichmann
said businesses must evaluate what will sustain the product strategy while keeping in mind that the target market is at a very low socioeconomic level.
Thinking creatively about product design, manufacturing, and distribution has helped Xylem
find that balance.
knows how to manufacture products, especially water-technology products," Teichmann
"When we did the Saajhi
design, we minimized the number of components and concentrated on the serviceability of the products, removing those that would wear or potentially fail in the field."
cuts production costs by partnering with nonprofit organizations and government agencies to distribute the pumps - groups that know these rural communities well.
"We utilize their intimate understanding of conducting transactions and relationships in rural communities," Teichmann
"They become a part of our logistical channels to not only bring the product in, but to service the product as well."
That service component is crucial, Teichmann
If farmers can't get repairs or replacement parts, even the most innovative and necessary product becomes useless.
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"The countryside, in some cases, is littered with the corpses of failed products," Teichmann
"We see competitive products rusting in fields because there was no proactive service proposition, and they broke.
We decided at the very beginning that this would not be us."
Quality and service are just as critical to smallholder farmers as they are to other customers, said Teichmann
Smallholder farmers are a market that's often ignored in this regard.
Though it takes time and imagination to see sustainable business possibilities, Teichmann
believes the effort is worth it.
"It is truly a compelling market," he
Written by Keith ...
Written by Keith Teichmann
Written by Keith Teichmann, Director of Innovative Networks and Marketing for Xylem, Inc.
ITT Cannon APD Series Bayonet Connectors
says Keith Teichmann, director of marketing for ITT Interconnect Solutions.
"While the inner frame of wheeled armored vehicles incorporates weaponry and radio or drive controls that require military-specific connectors, other applications within the vehicle such as lighting, mirrors, and cooling and heating functions use more cost-effective and lighter plastic connectors," Teichmann
"Right now, there are 2.5 billion ...
"Right now, there are 2.5 billion people around the world who earn less than $2.50 a day," says Keith Teichmann, Director of Innovative Networks and Marketing for Flow Control.
"There will be more than 9 billion people on the planet by 2050, and agricultural production will have to double to feed them all," says Teichmann