Driving Innovations at the Bottom of Pyramid
Journal Title: International Journal of Physical and Social Sciences (IJPSS) - Year 2012, Vol 2, Issue 6
Abstract
The concept of Bottom of the Pyramid (BOP) marketing has now gained prominenceamong academicians and businesses owing toits regenerative impact on billions of the poor across the world. There are significant opportunities for MNCs to generate profits while simultaneously making a social contribution by targeting the BOP. In fact the BOP segment holds great potential for expansion and profits tothe tune of US$ 5 trillion.The BOP market in India accounts for 95 percent of the country‘s population and 84.8% of the total $1.42-trillion national household market. So, entering BOP market in India will open up a huge customer base of nearly 925million people with $1.2 trillion in purchasing power parity. Prahalad (2004) has rightly stated that ‗the bottom of the economic pyramid is a sandbox for innovation‘. In the backdrop of this, the paper elaborates the BOP, business issues, strategic innovations and pitfalls of the BOP approach with case studies. This will provide marketers rich insight to explore the huge, untapped market and more importantly drive innovations leading to sustainable development of people occupying the bottom of pyramid.
Authors and Affiliations
Dr. Mitu G Matta
Keywords
Related Articles
- EP ID EP41660
- DOI -
- Views 331
- Downloads 0
LIFE INSURANCE CORPORATION OF INDIA: A GIANT IN INDIA’S INSURANCE SECTOR
The history of life insurance in India started after the establishment of a British firm, Oriental Life Insurance Company at Calcutta in 1818 and Bombay Life Assurance Company in 1923. Before the establishment of Bomba...
Feelings of Beggars on Begging Life and their Survival Livelihoods in Urban Areas of Central Tanzania
This paper is a result of the study conducted with the objective of examining street beggars and begging life in Dodoma and Singida Municipalities in Central Tanzania. The current paper examined the feelings of street...
CONCEPTION OF CIVILIZED ISLAM IN MALAYSIA: PERSPECTIVES OF THE NON MUSLIM POLITICIANS
Civilized Islam (Progressive Islam) or also known as Islam Hadhari in Malaysia, is characterized by ten fundamental principles which incorporate the sense of moderation of Islam and how Muslims should be guided in foll...
Social Sector Revamp – A Need for Economic Growth
Indian economy has grown encouragingly in the last few decades. The growth was undoubtedly encouraging and eminent. All the sectors of the economy have witnessed a remarkable growth barring the agriculture sector. Duri...
RESPIRATORY HEALTH IN BRICK KILN WORKERS
The objective of this cross-sectional study was to investigate the prevalence and determinants of respiratory symptoms and their association with occupational dust exposure among the brick kiln workers. Brick kiln work...