Is There a Market at the Bottom of the Pyramid?
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The document discusses C.K. Prahalad's argument that there is a large untapped market at the "bottom of the pyramid" (BoP) of very poor consumers. It outlines Prahalad's estimate of 4-5 billion people in the BoP with average daily incomes of $2-5. It also discusses criticisms of Prahalad's perspective, including that the size of the BoP market is overestimated and that selling to the poor may not actually help alleviate poverty. The document examines the challenges of designing and distributing affordable and appropriate products for the BoP.
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This document discusses economic poverty and the "bottom of the pyramid" (BOP) market. It notes that over 4 billion people live on less than $15,000 per year and represent a latent market for goods and services. While the poor have little income, their total purchasing power is significant. The BOP market provides opportunities for private sector growth and innovation through products tailored to local needs at affordable prices. However, concerns exist that some may take advantage of the poor or focus on creating needs rather than addressing the root causes of poverty.
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Independently, several years back there were two topics of discussion in business strategy and marketing. They were the Blue Ocean Strategy and the BOP (Bottom [or Base] of the Pyramid Markets). I thought it would be interesting to apply the Blue Ocean Strategy process to penetrating the BOP, which represents the world’s 4 billion people who live on less than US$2/day. In Blue Ocean Strategy language, this market falls in the Third Tier, “Unexplored” markets. That is the type of target market that the Blue Ocean Strategy explores. Taking the Blue Ocean Strategy “Value Curve”, I explore several product lines that could be successful in that very special market. Have a look at the attached. I hope it generates some ideas to think about.
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3. The basic economic problems are what to produce, how to produce it, and who gets it. Market and planned economies answer these differently based on private vs public decision making.
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This presentation was uploaded with the author’s consent. How to Profit from the Future
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3) Opportunity cost is the highest valued alternative forgone. Marginal thinking evaluates costs and benefits of additional units of goods or activities.
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This document provides an overview of core economic concepts including:
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- The concepts of scarcity, choice, and opportunity cost are introduced to explain the trade-offs involved in allocating resources.
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Introduction to business 1 _
This document discusses key economic concepts including:
1. Microeconomics analyzes individual consumers and firms to understand decision making, while macroeconomics analyzes whole economies and factors like employment, GDP, and prices.
2. Opportunity cost is what must be given up to obtain something else, such as time spent traveling instead of working.
3. Scarcity means human wants exceed limited resources, creating an fundamental economic problem of how to allocate resources.
Chapter 1.pptx
The opportunity cost of attending the Super Bowl game is $300. While the ticket was given for free, the next best alternative is attending the Beyoncé concert, which you would be willing to pay up to $300 for. Therefore, the opportunity cost is $300, which is the value of the best alternative forgone by attending the Super Bowl.
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Slideshare repurposing
This document discusses the concepts of scarcity, wants, and needs in economics. It begins by outlining three basic economic questions about what to produce, how to produce it, and for whom. It then defines key concepts like scarcity, choice, and opportunity cost. The document notes that resources are limited while wants and needs are unlimited, forcing societies to make choices. It explains that scarcity means not all goods and services can be produced, and that choices must be made between alternatives. The circular flow of the economy and production possibility frontier are also introduced. The document emphasizes that scarcity is a permanent reality and differs from shortages, which are temporary. It concludes by distinguishing between wants and needs from an economist's perspective.
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- 1. Sol DeLeon The Market at the Bottom of the Pyramid
- 16. Criticism 1: The Size of the BoP PPP = Purchasing Power Parity FX = Foreign Exchange Size of BoP Daily Consumption Annual Economy Prahalad's Estimate 4 – 5 Billion $2 per day $13 Trillion in PPP Critic's Estimate 2.5 – 3 Billion $1.25 per day $1.2 Trillion in Global FX
- 17. Criticism 1: The Size of the BoP http://www.oxfamblogs.org/fp2p/?tag=growth
- 22. Sol DeLeon Thank You!