managed to finish the book "the fortune at the bottom of the pyramid" written by Professor C K Prahalad. a very interesting book, reaffirmed my faith in BOP markets. would recommend to anyone even remotely interested in business management, and tis also quite fun reading with lots of live cases.
for the uninitiated, the bottom of pyramid represents poorer sections of society who were much ignored by earlier generation of businessness as a consumer segment because they were not perceived as profitable segments. But now, just because of the sheer size (estimates peg BOP segment between 60% to 80% of developing world population), BOP market is arising out of slumber and many companies have formed core strategies to develop and exploit the potential of this segment.
According to C K Prahalad, "By virtue of their numbers, the poor represent a significant latent purchasing power". "If we stop thinking of poor as victims or as a burden and start recognising them as resilient and creative entrepreneurs and value-concious consumers, a whole new world of opportunity will open up". atleast i know that tis more true in case of mobile telephony. a significant portion of customer portfolio consists of customers who pay less than $6 per month !! can you believe it ?? still we managed to grow YoY topline by over 75% and bottomline by 102% !! dear, tis only becos of sheer volumes and geographical spread and i assert here that whoever plays the volume game and appropriate value card will emerge victorious in future....ofcourse, some casualties are always natural, darwin scores here - may the best mobile companies survive and thrive !!
well, am i not game !! BOP Ahoy !!
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