BOP – Chapter 1
Andrew Adnan Fortuna
10667652
ITETHIC
THE FORTUNE AT THE BOTTOM OF THE PYRAMID
Book Review: The Market at the Bottom of the Pyramid.
Internet Reference: http://www.amazon.com/Fortune-Bottom-Pyramid-Eradicating-Publishing/dp/0131877291
Quote:
All of us are prisoners of our own socialization. The lenses through which we perceive the world
are colored by our own ideology, experiences, and established management practices. Each one of the groups that is focusing on poverty alleviation- the World Bank, rich countries providing aid, charitable organizations, national governments and the private sector- is conditioned by its own dominant logic. Let us, for example, examine the dominant logic of each group as it approaches the task of eradicating poverty.
Learning Expectation:
To know the deeper meaning of what is the market at the bottom of the pyramid. I want to know what the market symbolizes.
Book Review:
To start off, this chapter basically talks about how a business targets the bottom of the pyramid. I was shocked at first that this book talks about business at all. When I saw the title, there was nothing related to business that entered my mind. I thought that this book was some kind of a fiction story. Anyways, this chapter helps the readers determine who and what their target market are. This chapter tells us readers that it is essential for a business to always begin in the bottom of the pyramid since it has the largest population. For the people who are just starting their business, it is best for them to start at the bottom since it has the most number of people. But of course, your products must suit the people at the bottom of the pyramid.
As a 3rd year college student, it is normal for us to think of our future since it is very soon. I myself am thinking to whether start my own business or work in a big corporation. If I were to start my own business, this book will be a big help for me. This chapter taught me that when I should start, I should first target my market at the bottom part of the pyramid before I think about what products or services I would sell or offer. The book says that there is a good chance that my business will turn out to be successful just as long as I follow the book.
What I learned:
I learned that the bottom of the pyramid is a swell target market since it has the biggest population. The bigger the population, the more profit you earn. I also learned that you should first consider your target market before you choose what products to sell or what services to offer because your target market might not be suitable for your products. It is much better to choose your market first and use that as your basis for your products and services.
Integrative Questions:
· What kind of people are at the bottom of the pyramid?
· Does the bottom of the pyramid a good target market?
· Is it better to choose your target market first?
· Is it good to base your products to your target market?
· What is at the bottom of the pyramid?
