C K Prahalad and Associates Introduced the Concept of a Global

question 65

Multiple Choice

C. K. Prahalad and associates introduced the concept of a global market, not necessarily defined by national borders but rather by the pockets of poverty across countries, and consisting of 4 billion people across the globe with annual incomes of less than $1,200. These consumers, concentrated in the LDCs and LLDCs, are referred to as _____ markets.

• A) subsistence
• B) third-world
• C) underdeveloped
• D) bottom-of-the-pyramid
• E) peripheral

---

Definitions:

Structures

The arrangement or organization of interrelated elements in a material object or system, also applicable to abstract entities like societies.

Society

A group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations.

Disenfranchise

The revocation of the right to vote or other rights of citizenship, often affecting specific populations or groups.

Convicted of Felonies

Refers to individuals who have been found guilty by a court of law for committing crimes considered severe.