4 key elements to thrive in the low-income market - Deepstash
4 key elements to thrive in the low-income market

4 key elements to thrive in the low-income market

According to the late Professor, even the poor can be considered good customers by marketers who believe that BOP is an unsold market. 

Although they have a low-income level, they are discerning consumers who value and are aware of more affluent brands. Low income creates obstacles according to this school of thought.

He proposed:

  1. creating buying power;
  2. shaping aspirations through product innovation and consumer education;
  3. improving access through better distribution and communication systems;
  4. tailoring local solutions.

4

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Management concepts explained like tweets.

The Bottom of the Pyramid is a strategic concept coined by late professor C.K. Prahalad that emphasizes innovation at the grassroots levels of society.

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