A Study on Consumer Behavior of BOP (Bottom of Pyramid) Consumers in India

Dr. Gagandeep Kaur ., Manpreet Rattu ., Shivani Sohal ., Yashika Kondal .

Abstract


Purpose: The Bottom of the Pyramid is the massive but poorest socio-economic group. There are more than 2.5 Billion people who are living on less than $2.50 a day. Understanding the Bop market having an excellent potential for marketers and its importance from different studies , a study was designed with the target to review the consumer behavior of Bottom of Pyramid consumers in India and to review the income distribution and expenditure of BoP segments.. Methodology: This study is based on the analysis of secondary data collected from published resources like journals, government websites, research papers, publications etc. A detailed study was made of the above said resources. Findings: This study concluded that BoP consumers represent an unparalleled prospect for economic growth and advancement. However this “market” possesses serious challenges for various companies of interest and an understanding of the doctrine of behavior of the consumers that compel demand in BoP markets for goods and services which is important for both practitioners and academicians seeking new conceptual challenges. Implications: The study implies that a well-versed understanding of the set of guidelines of consumer behavior is crucial for the marketers. Originality: The concept of consumer behavior of BoP consumers needs a lot of research to understand the underlying perception of the consumers. In India, it is relatively new concept as more studies are found for African countries.


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