“Doing at Indian Institute of Management (IIM), Calcutta,

“Doing
business with the world’s four billion poorest people- two third of the world’s
population – will require radical innovations in technology and business
models” (Prahalad & Hart, 2002). The Bottom of Pyramid (BOP) has developed
as one of the predominant thoughts in business. In this article “Markets and
marketing at the bottom of the pyramid,” authors Katy Mason, Ronika
Chakrabarti, Ramendra Singh, provides in-depth knowledge of Bottom of the
Pyramid (BOP) in the special issue by showing various themes in study of BOP and
looks to create bits of knowledge into BoP showcases by uniting crafted by
researchers who are locked in with and think about making great markets at the
BoP. The significance of business sectors and how they are performed is
believed to be key to improving and more comprehensive social orders and to
enhancing the lives of those at the bottom of pyramid (BOP). The article reviews
highlight What markets are and how they function to consider how we may
re-conceptualize BOP markets, where we may discover them and how our worries
about BOP markets are starting to shape understanding, theorising and action
(2017). The authors Katy Mason is professor of Markets, Marketing and
Management at Lancaster University Management School, UK. Her research focuses
on how managers make and shape markets, and the market devices they use to
enrol and create boundaries with others. Her interest in bottom of pyramid
(BOP) comes from understanding how people organise at the BOP. Ronika
Chakrabarti is a lecturer in Marketing at Lancaster University Management
School. Her research interests in bottom of the pyramid (BOP) and subsistence
markets are situated within her theoretical interest on market creation and
sustainable development in informal economies. Ramendra Singh is associate
professor of marketing at Indian Institute of Management (IIM), Calcutta,
India. He has worked for several years in sales and marketing positions in
several companies such as Indian Oil Corporation, Exxon Mobil, SRF Limited and
ICICI Bank.

Where
are BoP markets?

The
monetary essentialist perspective of BOP markets characterizes them as far as
buyers living on not as much as US$ 2 daily. This meaning of poverty ends up
plainly arranged in low-wage, creating economies, for example BRICs: Brazil,
Russia, India, China (Pravin,2013; Prahalad,2006). Creating nations offer
gigantic developments openings. Inside these business sectors, the BoP speaks
to noteworthy open door. Take China for instance. With population of 1.2
billion and a normal for each captia (GDP) of U.S. $1000, China presently has $
1.2 trillion economy. Notwithstanding, the U.S. dollar equal isn’t a decent
measure of the interest in merchandise and ventures created and expanded in
China. If we change over the GDP-based consider along with its dollar obtaining
power equality (PPP), China is now a $5.0 trillion economy, making it the
second-biggest economy behind the United States in PPP terms (Prahalad, 2009).

Themes
in the study of BoP markets:

We
have recognized three wide subjects that rise out of the articles in this
special issue. The first subject concerns re-conceptualisation of being at BoP
and what a BoP advertise is. The second subject concerns the ramifications of
various conceptualisations of BoP for the advertising discipline and the
ramifications of various conceptualisations of BoP for analysts and experts
practically speaking. At long last, in keeping the showcasing administration
convention, the third subject traces a scope of BoP intercessions and
advertising instruments that individual commitments recognize.

In
my opinion, the authors announced no potential irreconcilable circumstances as
for the exploration, creation, or production of this article. BoP settings
speak to fascinating and critical market destinations to contemplate the
inseparably snared nature of the financial, social and political practices, as
they crash in key crossroads that come to make, shape and perform BoP markets.
Changing conceptualisations of BoP markets, are changing exploration hones,
where we search for BoP markets, how we consider them and what questions we ask
of them. In view of the drawback of this journal article, future research ought
to be done on more contextual investigations, among which: stories of
achievement yet in addition disappointment and starting from different kinds of
societies and nations. Furthermore, it could be a more noteworthy investigation
of the present writing.

Personally,
I wouldn’t recommend this article to anyone because its confusing and complex
due to its language as a common person wouldn’t understand this. I choose this
topic because the title seemed to be very catchy and I thought it would have
nice content in it, but it is not that fruitful. Still, I would like to learn
the topic Bottom of Pyramid (BOP) in future.

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