The recognition of Bottom of the Pyramid (BoP) consumers as a potential consumption unit and driver of market growth has triggered companies to design products and services for this consumer segment. The BoP consumers living in countries like Brazil, Russia, India, China, South Africa, a collective of emerging economies, were considered the prime target segments.
Ecociate understands the ecosystem of the BoP consumers in emerging economies and has been working on various issues and challenges to improve their ‘quality of life’. Availability of products and services which are relevant and appropriately designed for their ecosystem is a major challenge. Also the ability to pay for the products and services determine consumption. While most companies are focused on developing products, we find that the best designed products fail because of inappropriate business processes.
Business Model Innovation is a disruptive shift in business processes that necessitates companies to design an appropriate portfolio of products or services, adopt strategic internal processes and also changes in policy. Such disruptive innovation is desired to meet the market needs of the BoP ecosystem.
The Ecociate team has the experience of providing research and consulting support to several corporate and social businesses to Innovate with their product and /or process leading to greater reach and acceptance of products/services among BoP consumers.