BLOGERERO

Andrew Adnan Fortuna

10667652

ITETHIC

THE FORTUNE AT THE BOTTOM OF THE PYRAMID

Book Review: Products and Services for the BOP

Internet Reference: http://www.amazon.com/Fortune-Bottom-Pyramid-Eradicating-Publishing/dp/0131877291

Quote:

These challenges are not isolated conditions. Involvement in BOP markets will challenge assumptions that managers in MNCs have developed over a long period of time. A new philosophy of product development and innovation that reflects the realities of BOP markets will be needed. This philosophy must represent a different perspective from those that we have grown accustomed to in serving Western markets.

Learning Expectation:

I expect to learn that this chapter will greatly help the readers to determine what products and services are suitable for the people at the bottom of the pyramid.

Book Review:

At the previous chapter, it tells us that targeting your market at the bottom of the pyramid is best. After doing so, this chapter tells us that we should know the products and services that will be a big hit for the people at the bottom of the pyramid in order for the business to be successful. This is very essential for a business because if your products do not go well with your target market, there is a great chance that your business would not last long since not so many people would purchase your product. If you are a person who belongs at the bottom of the pyramid, and you see a store which sells products that are very much expensive, would you even bother to buy or even enter the store perhaps? That is what I believe the chapter is telling us readers.

I believe that the whole book, “The fortune at the bottom of the pyramid” is a guide for the people who are interested in starting their own business. I think that it is a six detailed steps in order for your business to succeed. In this chapter, we already have to steps. First is to target your market at the bottom of the pyramid and secondly, choose products and services which go well with your target market.

What I Learned:

I learned that after selecting that your target market must be the bottom of the pyramid, you should appropriate your products and services based on your target market. I think we need to base our products to our target market so that we the producers would know their dislikes and likes, in order for us to gain profit. We must need to know their wants and needs and they must be satisfied with the products that we produce.

Integrative Questions:

· Is it wise to base your products to your target market?

· What are the products that go well with the people at the BOP?

· What are the services that go well with the people at the BOP?

· What is the step before choosing your products and services?

· What are the 12 BOP Innovative Principles?