What Are BOPMs? What Basic Point Does C

question 80

Essay

What are BOPMs? What basic point does C. K. Prahalad and his associates introduced a new concept into the discussion of developing countries and markets- bottom-of-the-pyramid markets (BOPMs) -consisting of the 4 billion people across the globe with annual incomes of less than $1,200. These markets are not necessarily defined by national borders but rather by the pockets of poverty across countries. These 4 billion consumers are, of course, concentrated in the LDCs and LLDCs, as defined in the aforementioned U.N. classification scheme, particularly in South Asia and sub-Sahara Africa.C. K. Prahalad make regarding these markets?

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Definitions:

Primary Package

The immediate container or wrapping that holds and protects a product, directly in contact with it.

Consumer's Perspective

Refers to the outlook or perception of a product, service, or brand from the viewpoint of the consumer, which influences their purchasing behavior.

Primary Packaging

Refers to the material that first envelopes the product and holds it, serving both to contain and protect the product and to present information to the consumer.

Secondary Packaging

The additional layer of packaging used to group primary packages for handling, shipping, and displaying products more effectively.