Bottom Of The Pyramid
The "Bottom of the Pyramid" (BOP) refers to the largest but poorest socio-economic group in the world, typically consisting of individuals living on less than $2.50 a day. This concept highlights the significant market potential within this demographic, which includes billions of people in developing countries. Businesses and organizations are increasingly recognizing the importance of addressing the needs of the BOP through affordable products and services.
Efforts to engage with the BOP often focus on sustainable development and social entrepreneurship. Initiatives may include providing access to essential goods, such as clean water, healthcare, and education, while also creating job opportunities. By empowering this group, companies can foster economic growth and improve living standards, benefiting both the communities and their own bottom lines.