An integrated framework to serve the bottom of pyramid
The objective of the present study was threefold: 1) to critically analyse the mutual value created by enterprises operating in India to serve the BOP; 2) to analyse the constraints faced by these enterprises and strategies adopted by them overcome the constraints; 3) to understand the business model being adopted by the enterprises serving BOP. In order to achieve the above objectives data was collected from the sample of enterprises serving the BOP. Enterprises were selected from secondary sources for analysis, i.e., journals, articles, newspapers. Case–based approach was used. Findings of the study suggests that some of the enterprises quoted in the literatures as serving the BOP cannot be classified as the ones serving them as they either did not used a market–based approach or they failed to create mutual value. The present study also brings out in detailed some of the constraints faced by the enterprises serving the BOP in India and the strategies that they have adopted to overcome these constraints. The study makes an original contribution to the field of BOP by developing a comprehensive model based on the analysis of a number of enterprises serving BOP, so as to provide a strategic framework for the enterprises. Such a framework will help them create mutual value and grow successfully.
Keywords: BOP, bottom of pyramid, mutual value, constraints, marketing framework, enterprises, India, business models