About two decades back C.K. Prahalad created a then revolutionary idea, centred around the then four billion odd poor people. The bottom of the economic pyramid thus presented massive economic opportunities even back then. Aspirational products and technology could be peddled along with the basic goods of food and shelter. The wealth gap has only gone bigger with time now as per business intelligence provided by Credit Suisse. The idea of business as a force continues to be proposed, though cynicism among several business thinkers remains strong. Technology is paving the path for more inexpensive solutions. Goals too are changing thanks to this rapid change. Trust and community need to be placed as higher ideals above transactions. Some companies are being identified as one’s with higher purpose. Big data is allowing design to be done at far lower costs than before. Among the top global brands, we now have a healthy mix of economy and luxury. Social codes and norms are thus getting tweaked as well.

Source:https://www.strategy-business.com/article/The-New-Fortune-at-the-Bottom-of-the-Pyramid?gko=c5f11

Uploaded Date:20 May 2019