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Marketing to the Bottom of the pyramid
Pages 7 (1757 words)
Marketing to the Bottom of the pyramid Table of Contents Answer 1 3 Market development approach 3 Rethinking marketing mix strategies 4 Guidelines for market mix strategies 4 Answer 2.a 5 Cons 5 Works Cited 7 Name of the Student Name of the Professor Course Number Date Answer 1 Thinking about the “bottom of the pyramid” can lead us to create an impossibly low-cost yet a high-quality new and robust business model (Sangeet “Strategies for succeeding at the bottom of pyramid (bop) market in telecom services sector”).
This can be viewed as a mutual benefit process, given that it will provide the company with a huge market as a source of revenue stream. Alongside giving the company a top-line revenue growth, cost saving and innovations will also influence the existing business models and management practices of the company (Saini “Bottom of the pyramid marketing”). But one thing that the management needs to be well aware of is the fact that selling into BOP markets is difficult and the hardest part is to continue the work responsibly and consistently. Being a highly unexplored market, the strategy has to be formulated in such a way that it brings real benefit to the impacted communities as well as the company. However, in order to ensure that, the company should follow important guidelines and lessons from leaders in the industry known to have set examples of successful expansion in the BOP market. Prahalad (27-35) had coined the term BOP, referring to a population which is largely ignored by the private sector in terms of providing services. As such, the author had identified the market as prospective and it had become the next segment of increased attractiveness for firms. ...
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