Redesigning Marketing Mix for the Bottom of Pyramid
H.R. Journal of Management, Vol. 6, No. 1, April 2013-Sep 2013
24 Pages Posted: 18 Jun 2014
Date Written: June 18, 2013
Bottom of the pyramid has been the most talked about topic in the last decade. While much has been said and written on the topic, corporate is yet to realize the true potential of this untapped market. This market segment needs to be treated differently. Offering low quality products at lower price might give access to the market but it cannot be sustainable strategy. For long term gains bottom of the pyramid needs to be nurtured like other market segments. The transformation of the bottom of the pyramid and the creation of a new and emerging market requires a total transformation of managerial practices in established MNCs. The traditional 4 P’s of the marketing, product, price, promotion and placement needs to be re-engineered exclusively for the bottom of the pyramid. This paper discusses the various moves taken by companies to harness the opportunity at the bottom of the pyramid.
Keywords: Bottom of the pyramid, 4 P’s, Sustainability, Inclusive Growth, Frugal Engineering, BoP Penalty
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