Bottom of the Pyramid Essay Example | Topics and Well Written Essays - 1250 words

Bottom of the Pyramid - Essay ExampleBy targeting the philia and lower incomes, they can hope to cash in on the phenomenon on the rising imbalance in wealth across the globe. What the article implies is that people who scrape together a living may fountainhead be the gold mine that marketers may want to look at. By scraping the bottom, the marketers may wellhead find gold dust that has been neglected for so long.The authors make the point that there are tetrad tiers of the consuming classes. The tier 1 is the most affluent with annual incomes more than $20,000. The next two tiers 2 and 3 hasten annual incomes in the range of $1,500 to $20,000, while the last tier makes up of those who have incomes less than $1,500 annu eithery. The article makes a strong case for devoting resources to target the tier 4 consumers. The point rough social unrest due to the ability of the tier 4 consumers disturbing the lifestyles of other tiers is discussed.Therefore, it is in the interests of all sections to maintain the equitable balance in society to ensure that the tier 4 consumers are non neglected. This is the social point of notion. However, as the article states, there are compelling reasons from the profit point of view as well to create a market for tier 4 consumers. The wave of industrialization and globalisation has created a category of consumers who are willing to try and experiment with new products but do not have the resources to buy premium products. Thus, there is a need to create and make products that are adapted for this class of consumers.