The term, ‘Bottom of the Pyramid,’ was first coined by management guru, CK Prahalad, who along with Stuart Hall of Cornell University in his 2002 path-breaking article, "The Fortune at the Bottom of the Pyramid," provided the first articulation of how companies can profitably serve a huge untapped market of more than 4 billion people living on less than $2 per day, which according to Prahalad, has remained largely underserved and unserved till today. However, successes of firms like P&G, Unilever, ICICI Bank, and Cavinkare, are seeing increased number of firms now evincing interest in the concept, internationally. According to a World Resource Institute-IFC study, the Bottom of the Pyramid market in India is estimated at about $1.205 trillion, in purchasing power parity terms, and makes up 84.8% of the total $1.42-trillion national household market. Further, as per the report, the country’s BOP segment accounts for 88.1% of the total national household expenditure on food, 87.2% of energy expenditure, 85.3% of health spend, 78.8% of household goods expenditure and 52.6% of the country’s spend on information and communication technology. Against this backdrop, the book attempts to offer useful insights into India’s evolving BOP market, industry segments such as FMCG, financial services, housing, education etc., which present huge opportunities for marketers to cater to the BOP market, the strategies adopted by some of the early movers, and also the factors that would hold the key to successful penetration in this market.
There are no reviews yet.