Bottom of the Pyramid, because of the global crisis is growing sharply. Can infiltrate the companies in these markets with the same products and with the same marketing strategy as in other markets?
There are business pyramid and multilevel marketing businesses. The latter is more fair to all business partners, it has equal opportunities for all. An example is the ACN, Herbalife, among others.
One has to apply a customer focused marketing strategies to be successful in the bottom of the pyramid markets.
The following paper describes few applicable marketing strategies... related to product development -- some are better than others.
Take a look
Article Synthesis of market research data through a combined effort ...
I think following research paper may serve your purpose http://www.projectguru.in/publications/bottom-of-the-pyramid-marketing-strategies/
http://www.diva-portal.org/smash/get/diva2:631828/FULLTEXT01.pdf
http://www.uk.sagepub.com/repository/binaries/pdf/MTQ-cfp.pdf
http://www.un.org/esa/coordination/Mirage.BOP.CMR.pdf
http://www.insead.edu/facultyresearch/research/doc.cfm?did=45042
http://www.iimahd.ernet.in/publications/data/2007-07-13Jaiswal.pdf
http://di.dk/sitecollectionDocuments/shop/workingwiththe.pdf
http://cdf.ifmr.ac.in/wp-content/uploads/2011/03/The_Base_of_Pyramid_Distribution_Challenge1.pdf
Start off with 'Fortune at the bottom of the pyramid' by CK Prahlad and Garry Halem
I agree with Mr. Bose and suggest you the works of Prahalad,which clarify mechanisms and dynamics of these markets. Generally, ad hoc marketing strategies appear to be preferable.
Prahalad. Bottom of the Pyramid as a Source of Breakthrough Innovations. J Prod Innov Manag (2011) vol. 29 (1) pp. 6-12
Otherwise,I suggest you to look for case studies. Hindustan Unilever's distribution strategy in India could be a nice starting point.
Hindustan unilever and the competitors (Nirma) in India are a good case.
Grameen bank of bangladesh could be another example.
innovation on every aspect. In terms of product, to promotion to delivery is needed. Focus on core product values and attributes and right packaging and delivery models. Clearly defining the positioning of the product.
We found in our research that success often spurs from deep engagement with BOP customers and at least initially relying on multipliers for mouth to mouth marketing.
Article The role of corporate foresight in exploring new markets – e...
- Badges
- Science topic