The Fortune at the Bottom of the Pyramid
"The Fortune at the Bottom of the Pyramid" is a concept introduced by C.K. Prahalad that highlights the economic potential of the world's poorest populations. It suggests that businesses can achieve significant profits by catering to the needs of low-income consumers, who represent a large and untapped market. By providing affordable products and services, companies can improve the lives of these individuals while also benefiting financially.
This approach encourages innovation and sustainable business practices, as companies must develop cost-effective solutions tailored to the unique challenges faced by low-income communities. By focusing on this demographic, businesses can create a positive social impact while driving economic growth in emerging markets.