Serving base‐of‐the‐pyramid markets: meeting real needs through a customized approach
Purpose – This article aims to propose a continuum of strategic engagement approaches to base‐of‐the‐pyramid (BOP) markets ranging from non‐profit and government aid to corporate social responsibility (CSR) programs and social entrepreneurship. A framework is presented to identify which approach to serving the BOP market makes the most sense under certain conditions, depending on availability of consumer resources to participate in the initiative, the infrastructure available for the initiative to leverage, and whether the focus of the initiative is to be self‐sustaining over time.Design/methodology/approach – This is a conceptual article based on literature review and synthesis.Findings – Eight different approaches to engage with BOP markets are recommended under different combinations of three underlying conditions: consumer resources, infrastructure availability and self‐sustainability goals.Originality/value – The paper presents a continuum of strategic engagement approaches to BOP markets.