Marketing challenges for BOP markets: BOP or Bottom of pyramid is a socio economic term given for the strata of low income people in the income pyramid (used to approximate the distribution of a country’s income). Thus obviously Bottom of Pyramid constitutes the market made of country’s poorest people. In India approximately 6 Lacs villages and 72% of country’s population constitutes BOP. The great majority of men and women of this BOP cluster work in agriculture‚ animal husbandry‚ factories or
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require radical innovations in technology and business models” (Prahalad & Hart‚ 2002). The Bottom of Pyramid (BOP) has developed as one of the predominant thoughts in business. In this article “Markets and marketing at the bottom of the pyramid‚” authors Katy Mason‚ Ronika Chakrabarti‚ Ramendra Singh‚ provides in-depth knowledge of Bottom of the Pyramid (BOP) in the special issue by showing various themes in study of BOP and looks to create bits of knowledge into BoP showcases by uniting crafted by researchers
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Lessons from the Field: Sales at the Bottom of the Pyramid By Heidi Krauel and Joel Montgomery‚ 2009 Acumen Fund Fellows April 2010 Summary Enterprises serving bottom of the pyramid (BoP) markets have tremendous opportunity to create commercial and social impact‚ but are often illequipped to do so. A particular question that needs to be studied is: how can we sell more effectively to BoP consumers? In this piece‚ Acumen Fund Fellows Heidi Krauel and Joel Montgomery draw on their field experiences
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OPPORTUNITIES AT THE “BOTTOM OF THE PYRAMID” In economics‚ the “Bottom of the Pyramid” refers to the largest‚ poorest socio-economic group and do not have access to the benefits of modern‚ organised and efficient industrial systems. In global terms‚ this is the 4 billion people who live on less than US$2 per day. The “Bottom of the Pyramid” phrase is used in particular by people developing new models of doing business that deliberately target that demographic‚ often using new technology.
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September 10‚ 2009 case 1-428-849 Jaipur Rugs: Connecting Rural India to Global Markets Introduction The Jaipur Rugs case explores how a company can benefit the poor by connecting them with global markets. Jaipur Rugs makes this connection by building and orchestrating a global supply chain on a massive scale—one focused on developing human capability and skills at the grassroots level‚ providing steady incomes for rural men and women in the most depressed parts of India and connecting them
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Summary of the Fortune at the Bottom of the Pyramid We have all heard of the terms of classification such as the upper class‚ middle class‚ and lower class that is used to identify the people of wealth in the world. But just how are we separated into those three groups? The numbers of people in each class and the percent of wealth each control is daunting. The pyramid of global wealth is separated into three sections. Tier one‚ the peak of the pyramid‚ represents 85 percent of the world wealth
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by Erik Simanis ABOVE MightyLight customers in Barmer‚ Rajasthan‚ India 120 Harvard Business Review June 2012 M ost companies trying to do business with the 4 billion people who make up the world’s poor follow a formula long touted by bottom-of-thepyramid experts: Offer products at extremely low prices and margins‚ and hope to generate decent profits by selling enormous quantities of them. This “low price‚ low margin‚ high volume” model has held sway for more than a decade‚ largely
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Caso- 3-4 Marketing to the Bottom of the Pyramid (BOP) 1. Key questions that need to be addressed if the company decides to look further unto the possibility of marketing to the BOP segment. Mercadear al BOP requiere de muchas consideraciones que dependerán del tipo de producto‚ el poder adquisitivo de las personas de la región‚ sus necesidades peculiares‚ infraestructura‚ canales de distribución entre otros. Basado en esto‚ algunas preguntas guías podrían ser: a. Producto: ¿Qué productos
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1. Introduction My business plan is about a product which works according to the theory of the bottom of the pyramid. The theory was first mentioned by C.K. Prahalad in his book “The fortune at the bottom of the pyramid”. In his book he defines the bottom of the pyramid as the largest and poorest socio-economic group worldwide which live with less than 2 USD per day. The previous strategies which are used to sell products to this market‚ which consists out of 4 billion people are not very useful
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CHALLENGES AND MARKETING STRATEGY FOR SERVING BOTTOM OF THE PYRAMID MARKET Mridanish Jha Assistant Professor‚ Cambridge Institute of Technology‚ Ranchi‚ India Email: mridanishjha@gmail.com ABSTRACT This article present insight into the nature and characteristics of BOP markets‚ the challenges that organization will encounter when venturing into them and the strategies to counter these challenges. In the recent past‚ there has been an interest in marketing to the Bottom of the Pyramid (BOP) market
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