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Authors
Affiliations
1 SIBM, Pune, IN
Source
SAMVAD: International Journal of Management, Vol 3 (2011), Pagination: 7-12
Abstract
In 2006, C. K Prahalad propelled a radical thought through his book The Fortune at the Bottom of the Pyramid. The book propounded a theory that conceptualized a model for eradicating poverty through profits. It proposed and exemplified ideas which proved that value can be cocreated by large companies by keeping in mind the constraints and needs of poor population which occupies the largest portion of any market. In this conceptual paper authors are proposing to add four new dimensions to the seminal model of Bottom of the Pyramid (BOP) with an attempt to expand application of original concept in the emerging markets like India. These perspective dimensions have been supported with several examples of products and services that are offered in Indian markets by large companies who have successfully converted the challenges of low income groups into opportunity. Through such opportunities these companies have not only improved their bottom line but have also provided the BOP masses with immense potential to live a better life. They have made a difference to the lives of millions of poor who are looked upon as source of growth and not as burden.
Keywords
Bottom of the Pyramid (BOP) Markets, Emerging Markets, Services, Innovation and Growth.
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