Kim MacIlwaine, Poonam Kumar and Bob Burgoyne explain the opportunity at the base of the pyramid for brands that get it right. Related content Intelligence Applied - Finding Faster Growth
As spending power increases followed by an emerging consumer class, Kim MacIlwaine summarises the key elements businesses need to consider to be successful with these new consumers.
Logic suggests that brands have a limited role to play at the Base of the Pyramid. But try telling that to the people who live there. Poonam Kumar tells the story of Priyanka, a young girl from a village near Lucknow who needs all the support she can get as she embarks on adulthood.
Different needs and opportunities lead to innovative approaches to making a living and achieving social mobility at the base of the pyramid. Bob Burgoyne tells the story of Mary who lives in Korogocho, Nairobi and for whom BoP means, ‘believer in providence’, or ‘banking on Peter’.
The base of the pyramid’s (BoP’s) population numbers 4 billion, with a combined purchasing power of $5 trillion. Kim MacIlwaine introduces the opportunity with this emerging consumer class.