BOTTOM OF THE PYRAMID Assignment #2 Naveen Kumar Kotteda Central Michigan University – MKT560 07/26/2014 Introduction The main objective of any organization is to make maximum profit. And profit can be calculated as the product of sales and profit margin on a particular product. In the present global world, for any organization the whole global market is the potential market for the company. Currently more than half of the total population is at the bottom of the pyramid
In economics, the bottom of the pyramid is the largest, but poorest socio-economic group. In global terms, this is the 3 billion people who live on less than US$2.50 per day.The phrase “bottom of the pyramid” is used in particular by people developing new models of doing business that deliberately target that demographic, often using new technology. This field is also often referred to as the "Base of the Pyramid" or just the "BoP". Does your company work internationally and have interest in engaging
CASE 33 Marketing to the Bottom of the Pyramid Professor C. K. Prahalad’s seminal publication, The Fortune at the Bottom of the Pyramid, suggests an enormous market at the “bottom of the pyramid” (BOP)—a group of some 4 billion people who subsist on less than $2 a day. By some estimates, these “aspirational poor,” who make up three-fourths of the world’s population, represent $14 trillion in purchasing power, more than Germany, the United Kingdom, Italy, France, and Japan put together. Demographically
MARKETING TO THE BOTTOM OF THE PYRAMID The International Finance Corporation, IFC, uses the term “base of the pyramid” to describe people living in poverty in the broad sense in which the poor themselves understand and experience it. In 20,000 interviews conducted for the seminal World Bank study Voices of the Poor, the poor described poverty as not only a lack of income, but more fundamentally, a lack of access — to goods, services, and economic opportunities. •“There is nowhere to work.” (Ecuadorian
veteran who had spent years in the Footwear Department in the United States, as well as in Latin America, was chosen as the Director of Emerging Market Footwear. His task was to direct and develop the World Shoe Project, Nike’s foray into the bottom of the pyramid. Two-and-a-half years later, Nike had done just that: developed and produced the World Shoe Series 100 and Series 400, footwear lines manufactured under specific guidelines for emerging economies. By late 2000, Nike had sold roughly 2 million
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Improving the lives of the billions of people at the bottom of the economic pyramid is a noble endeavor. It can also be a lucrative one. Serving the World's Poor, by C.K. Prahalad and Allen Hammond C ONSIDER THIS BLEAK VISION of the world 15 years from now: The global economy recovers from its current stagnation but growth remains anemic. Deflation continues to threaten, the gap between rich and |x>or keeps widening, and incidents of economic chaos, governmental collapse, and civil
Thinker name: C.K. Prahalad Nationality: Indian C.K. Prahalad was born in Tamil Nadu in 1941. Since 1960 and until 1964 he was working as an industrial engineer, before he has completed an MBA at the Indian Institute of Management in 1966 and DBA at Harvard Business School in 1975. After he has completed his education Prahalad began to teach, business thinker has been a visiting research fellow at Harvard, a professor at the Indian Institute of Management, and visiting professor at the INSEAD.
youtube.com/watch?v=yDddAKtELZ8&feature=PlayList&p=459623E63398E91F&playnext_from=PL&playnext=1&index=12 This clip is of Professor Prahalad describing Marketing to the Bottom of the Pyramid. http://www.youtube.com/watch?v=jhkq_6HERe0 For those of you who were interested to know of one good example of developing something for the bottom of the pyramid, here's the clip I showed in the Thursday class. It's about special heavy-duty, cheapish wheelchairs. Note that this charitable organisation sets up
Volume I Issue 4 January-March 2010 In Memoriam Reflections on Management Contributions of Professor C. K. Prahalad* N. Ravichandran Professor C. K. Prahalad (CKP), recognised globally as a great management teacher, thinker, advisor and a consultant (of the practising community), passed away on 17 April 2010 after a brief illness in San Diego, USA. The author had the privilege of knowing him for more than 15 years and had conversations with him when he regularly visited Ahmedabad. CKP started