Essay about Case 1-1 Bottom Of The Pyramid

783 Words Dec 7th, 2015 4 Pages
Case 3-3 Bottom of the Pyramid
1.) The bottom of the pyramid (BOP) is made up of about two thousand people making less than $2 a day. Many businesses have been wanting to make their presence larger in this field of the market with their products in services since the group has such a large and diverse field in the market. This is extremely helpful and strategic for the poor consumers needing more advanced technology. The market must have products accompanied by the correct framework support for this market to be successful. Firms and companies must understand that creating markets out of unmet needs is important. While companies create these markets, companies need to make sure that their products are affordable and provide the poor consumers with valuable products. Not only do companies have to report for the 4 P’s of marketing but also, they now must contain the four challenges of BOP marketing. These accessibility, challenges, availability and affordability are the difficulties that can jeopardize a product of being successful or not. If the organization can get over this, than they can expect to see huge profits. However this can only be done through a very thorough understanding of this unique market and the appropriate operation of practical marketing strategies. The BOP is not for every company. This market is often thought of as dominated by governments, non-profits, etc. Many companies and firms deem the BOP as an unnecessary investment. One of the main reasons for…

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