Marketing to the Bottom of the Pyramid Until recently, the least important market segment has been the most poor, lower-income individuals and families. According to Professor C.K. Prahalad, the “bottom of the pyramid”, also referred to as the BOP, is made up of nearly 4 billion people who survive on $2 a day or less. Making up approximately a quarter of the world’s population, these four billion people hold $14 trillion in purchasing power and this group is growing each year. In the past, this
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| Case Study 03 Marketing to the Bottom of the Pyramid | MKT3120 International Marketing | Name : Andrea Manampulle Student Id : 10200729 / MAAMD81 Class : Monday 6 p.m. Due Date : 1st October 2010 Answers 1. In evaluating the potential of a BOP market segment there are certain factors that need to be analyzed in order to develop a marketing strategy. The following will be used as a guideline to establish possibility and viability of marketing to the BOP. Market opportunity
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the bottom of the pyramid living on less than $2 a day. “Traditionally the poor have not been considered an important market segment. The poor can’t afford most products; they will not accept new technologies; and except for the most basic products, they have little or no use for most products sold to higher income market segments – these are some of the assumptions that have, until recently, caused most multinational firms to pay little or no attention to those at the bottom of the pyramid.”
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Case 3-4 Marketing to the Bottom of the Pyramid Central Issues The concept of the Bottom of the Pyramid (BOP) market was originally developed by C.K. Prahalad in “The Fortune at the Bottom of the Pyramid” to highlight a large potential market made up of a large segment of the world’s population that has, until recently, been an ignored market segment among multinational companies. In an age of increasing global competition and near-saturation for some products in more mature markets, this
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MKS0119 Nokia’s Rural Marketing Strategies in India: Reaching Out to the Bottom of Pyramid “The rural consumer is discerning and the rural market is vibrant. At the current rate of growth, it will soon outstrip the urban market. The rural market is not sleeping any longer. We are.”1 – Adi Godrej, Chairman, Godrej Group of Industries To expand its presence, Nokia is planning to launch a new service ‘Nokia Life Tools’ that would provide information on market price, weather, etc., to information-starved
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the bottom of pyramid Procter & Gamble Company The Fortune at the bottom of pyramid Procter & Gamble Company According to Pervez, Maritz and Waal (2013), recently when poverty continues to be one of the global key issues and also one of the biggest challenges facing the society at large, the solutions to alleviate the continuing economic misery have become increasingly popular. The release of new theory called “Bottom of the Pyramid”, which is also known as “base of the pyramid”, by
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The concept of the bottom of the pyramid (BoP) refers to the largest socio-economic group of individuals who are amongst the poorest in the world. Although those individuals living at the bottom live in severe poverty, the notion is that there is a fortune at the BoP for multinational organizations to exploit. There is a considerable amount of market potential that exists within these groups. An organization can make an effort to capitalize on this potential, changing or creating a sustainable business
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Big Marketing Strategic Long term Widely influencing Every one involved in market orientation -intelligence generation - intelligence dissamination - intelligence response Business idea – questionnaire- survey –data- information- intelligence Should be shared all at the department Little marketing Tactical Short term Narrow scope Marketing research Marketing research is "the function that links the
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Innovating for the bottom of the pyramid 1. Why are companies such as Siemens, GE and Procter and Gamble targeting the “bottom of the pyramid”? These companies are targeting the bottom of the pyramid because this segment represents two-thirds of the world’s population (4 billion people). However, those people live on less than $2 per day and 1.5 billion people have no access to electricity. Companies such as the ones mentioned above have found out that this situation has provided an opportunity
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Introduction to International Management Dr. Paweł Krzyworzeka 2015/2016 Grades There are two components: Group presentations (10 points) • We are going to discuss six cases (sessions no. 2, 3, 5, 6, 7, 9) • All groups have to read carefully all six cases and be prepared to give an oral presentation (ad-hoc, at least two times during our course) based on assigned questions (see the table below). • Group can earn up to 5 points for a presentation • Groups are fixed and preassigned (see
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