Article Emerging Market
This article outlines the bottom of the pyramid market in which consumer behavior is studied in regards to branded personal care products and preferences. This study helped in understanding the definition of bottom of the pyramid market and consumer behavior which plays vital role in targeting in making a decision related to use of consumable goods and services.
In today’s highly competitive environment, firms are waiting for one best opportunity for turning towards the growth and development in the bottom of pyramid market (V. KasturiRangan, 2011). In Pakistan i.e., Karachi, there is high population under which research was conducted by dividing the city household in different segments on the basis of socio-economic classification (SEC).
In this article, different researcher views are stated in order to understand and determine the importance of consumer behavior on the growth of business and use of bottom of pyramid market in the economy (Ismail and Baloch, 2015). This research study also stated that when it comes to market penetration to bottom of pyramid market, there are only few firms who served this service to its customers.
While studying this article, it is observed that due to change in technology, economic and social factor, firms are facing problem to understand the consumer needs and satisfy them with the goods and services produced (Parente, 2010). In Karachi, the BOP consumer are divided according to the BOP market segment through which hypothesis test was conducted in order to identify hoe many household consumer prefer to buy a branded personal care product or vice-versa.
Ismail, Dr. Z., and Baloch, M.S. (2015) Bottom of the Pyramid Market’s Consumer Behavior with Regards to Branded Personal Care Products in Karachi: A Quantitative Study. International Journal of Business and Social Science. [Online]. Available at: http://ijbssnet.com/journals/Vol_6_No_6_June_2015/5.pdf (Accessed: 29th July, 2017).
Parente, E. B. (2010) Consumer Behaviour of the Base of the Pyramid Market in Brazil. Greener Management International, pp. 15-15.
- KasturiRangan, M. C. (2011) Segmenting the Base of the Pyramid. Harvard Business Review, pp. 113-117.