Rethinking Marketing Mix Strategies for the Bottom of the Pyramid

Abstract

The authors, in this chapter, discuss the challenges and opportunities for marketing in BoP markets. The authors explain how marketing mix strategies can cater to address the scope and scale of challenges that are ahead in BoP markets. By way of challenges, the authors discuss the factors like resistance to change, higher transaction costs, competitive environment, lower income, and unawareness among consumers as the important inhibitors. The authors discuss opportunities for marketing mix and argue that marketing strategies will have to be tailored for the BoP markets for a profitable revenue model for a company and for meeting BoP needs.

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