INTERNATIONAL MARKETING

DECISIONS
Session 8
IMDs in Bottom of Pyramid (BOP) markets

© Pr. Nathalie Prime

Patrick Giry-Deloison
pgiry-deloison@escp.eu
 Session 8 – Agenda

1 Foundations

1.1 What is the “BOP”?

1.2 Why companies should take care of poverty?

1.3 IMD for addressing BOP’s needs

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 From “IMD” to “IMD for BOP markets”

From traditional marketing thinking…

Market Mix marketing

STP (into market / across
research countries coordination)

… to marketing innovations required:

Mix
Innovation marketing
Unique market
of solutions (from the 4Ps to
research STP
& business the 4 As, cross
approaches border transfer-
models
S ability)

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 Session 8 – Agenda

1 Foundations

1.1 What is the “BOP”?

What are the income-based identifications of BOP markets ?

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 Initial identification of the world economic pyramid
(as of 2005)

3 major segments based on income distributions:

1 TOP markets (mature markets from Triad + Elite markets from Emerging Economies)

2 MOP markets (mature markets from Triad + growing middle class from Emerging
Economies)

S 3 BOP markets, mostly in developing and emerging economies, BOP consists people
living about 4 $ per day
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Detailed identification of the world economic pyramid
and segmented BOP markets

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Poverty is difficult to define, but we know that…

▪ More than 2.6 billion people — over 40 percent of the world’s population — do not
have basic sanitation.
▪ More than one billion people still use unsafe sources of drinking water.
▪ Four out of ten people in the world don’t have access to a simple latrine.
▪ Five million people, mostly children, die each year from water-borne diseases.
▪ More than 800 million people go to bed hungry every day. 300 million are children.
▪ Of these 300 million children, eight percent are victims of famine or other emergency
situations. More than 90 percent are suffering long-term malnourishment and
micronutrient deficiency.
▪ Every 3.6 seconds another person dies of starvation and the large majority of those
deaths are children under the age of five.
I

Source: The UN Millennium Project, Fast Facts: The Faces of Poverty, 2006 © Nathalie Prime
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 No poverty is the No. 1 sustainable development goal
of UNDP’s 2030 agenda

Source: The UNDP 2018 © Nathalie Prime

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Extreme poverty decreases [Before Covid19], but relative
poverty increases

▪ Globally (on average and in most countries): extreme poverty goes

down
2005: 1.3 Billion people with less than 1.25 $/day
2010: 900 Million people with less than 1.25 $/day
2015: 600 Million people with less than 1.25 $/day

▪ Distribution of income has globally moved upwards, reducing the base

of the pyramid

▪ However relative poverty goes up, everywhere:

E.g., Gini index: measure of the income distribution (= monetary poverty)
E.g., Human Development Index – Inequalities ( = a malus for various
inequalities)
S

Source: World Bank. © Nathalie Prime

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 Extreme poverty decreases, but not everywhere

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 Session 8 – Agenda

1 Foundations

1.1 What is the “BOP”?

1.2 Why companies should take care of poverty?

The demographic reason

The market opportunity reason
The social responsibility reason

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The demographic reason

Poverty challenges sustainable development of societies

Hans Rosling (IKEA boxes demonstration)

S https://www.ted.com/talks/hans_rosling_global_population_growth_box_by_box?referrer=playlist-
the_best_hans_rosling_talks_yo

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The market opportunity reason (1/2)

Benefiting from significant market opportunities for businesses

▪ Satisfying significant unmet needs: raising welfare, productivity, and income—to

enable BOP households to find their own route out of poverty
▪ The poor are often brand-conscious
▪ Mature markets are huge but already stagnant or declining
▪ The BOP market has been connected (mobile phones, TV, Internet) and is very
much open towards ICT

Addressing barriers resulting from inefficient

or monopolistic markets, or simply lack of attention and investment, to create significant
market opportunities for businesses.
S

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The market opportunity reason (2/2)

Low income does not mean no income

▪ The income and spending patterns of the BOP have too long been hidden from business
by lack of data on informal economy

▪ The seminal work of Hernando De Soto about “Dead Capital”:

▪ This wealth and potential purchasing power exists but is trapped in informal
economy
▪ “Dead capital” = informal properties and businesses
▪ E.g. in 12 LATAM countries, this capital is worth as much as USD 1.2 trillion (2006)
▪ Unlocking these assets is a major institutional challenge of developing countries

The poor are far wealthier than thought

S
(find out more: www.thepowerofthepoor.com)
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 The Corporate Social Responsibility reason

▪ A market-based approach focuses on people as consumers and

producers and on solutions that can make markets more efficient,
competitive, and inclusive—so that the BOP can benefit from them.
▪ While eliminating BOP penalty: Higher pricing for the poor is
unethical
▪ Access to BOP markets is not necessarily difficult, but innovative
unconventional approaches may work:

e.g., Avon Ladies, Shakti-Unilever in India, Unilever Brazil, Danone-

Grameen Bank in Bangladesh, ESSILOR in India, Schneider Electric,
etc.

S CSR reason: “Doing good and doing well”

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 Session 8 – Agenda

1 Foundations

1.1 What is the “BOP”?

1.2 Why companies should take care of poverty?

1.3 IMD for addressing BOP’s needs

What are the marketing strategies that can be developed?

EXAMPLES –
Unilever in Brazil (urban BOP),
S
Danone Grameen Bank in Bengladesh (Rural BOP)

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Three core strategies

1 Developing a unique marketing approach for the BOP with

unique products, unique services, or unique technologies,
Enabling access financially and physically 🡪 radical
innovation starting with deep understanding of BOP needs

2 Localizing value creation through franchising, through agent

strategies that involve building local ecosystems

3 Developing unconventional partnering or “hybrid value

chains”

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 1
Developing a unique marketing approach for the BOP

Mere adaptation is not enough:

Question is how to develop disruptive business models!

Navi Radjou, “Frugal innovation”

https://www.ted.com/talks/navi_radjou_c
reative_problem_solving_in_the_face_of
_extreme_limits?language=fr
Link
I to video

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1 Going back to the basics of marketing

Understanding BOP markets’ uniqueness

a) b) c)

How large is How is the market What do

the market? segmented? households spend?

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1 a) How large is the market? Spendings by income
segments

Largest segment varies across countries

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1 a) How large is the market? Spendings by income
segments

Largest segment varies across countries

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1 b) Where is the market: the urban – rural divide

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1 c) What do households spend? Spendings by sectors

▪ The buying power of BOP segments = 50% of the available income in

emerging markets
▪ Various sectors concerned (WRI 2005):
▪ Food = 2.895 billion USD (58% total expenses)
▪ Energy = 433 billion USD (9%)
▪ Housing = 332 billion USD (7%)
▪ Transportation = 179 billion USD (4%)
▪ Health = 158 billion USD (3%)
▪ Technology and information = 51 billion USD (1%, but with lightening fast
growth)
▪ Water = 20 billion USD (0,4%)
▪ Others = 932 billion USD (8%, incl. A basket of goods and financial
S services, or education)

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1 c) What do households spend? Spendings by sectors

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2 Localizing value creation that involve building local
ecosystems

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 3 Developing hybrid value chains

Example:

Hybrid Value Chains and the energy challenge at the

Base of the pyramid

Link
S to video

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 EXAMPLES – Seminal projects developed for rural and urban BOP

Unilever in Brazil
(urban BOP)

Danone – Grameen bank in Bangladesh

(rural BOP)

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 Unilever in Brazil
Marketing strategies for low-income consumers

Unilever in Brazil
1
(urban BOP)

Danone – Grameen bank in Bangladesh

2
(rural BOP)

Source: Adapted from P. Chandon, 2004 INSEAD, Fontainebleau, France © Nathalie Prime
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A rigorous marketing strategy

Attractivity of the
Go / No Go BOP segment?
decision
Competitiveness of
Unilever?

New Brand?
If Yes: Repositioning of existing
Marketing and brand?
Branding strategy
Brand extension?

Product, Price, Place,

Mix-Marketing Promotion
S

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The segmentation

✔Segmentation by income and by geography is relevant for understanding washing

fabric behaviors

✔Northeast: large group with different needs and behaviors compared to Southeast

▪ Have no washing machine, and hence use more soap and less detergent
▪ Are more likely to wash their clothes more frequently (have few clothes and more free
time) and collectively in public laundry, river or pond
▪ One of the more pleasurable activity (chatting) but also a routine
▪ Cleanliness perceived as an indication of the dedication of the mother to her family
▪ Look for different attributes when choosing detergents in addition to price:
▪ Perceived power of the detergent – often judged by the quantity of foam
produced
▪ Smell: strong and pleasant is associated with softening power and
gentleness to fabric and hands
S ▪ Ability to remove stains without soap or bleach

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Ethnographic research of BOP consumer behavior for
detergents in Brazil

Laercio Cardoso Visiting a Low- Home-made detergents for sale in Brazil (left)
Income Family in the Northeast and Chile (right)

S
Typical washing scenes, Brazil, North east
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Symbolic importance of branded goods for low-income
consumers

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 Targeting low income consumers: go/no go decision

Should Unilever target the low-income segment of

consumers in the Northeast?

What are the short-term and long-term implications of the

decision?

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Targeting low income consumers: go/no go decision

Step 1: Is the segment attractive?

PROs CONs
▪ Large ▪ Underdeveloped
▪ Underdeveloped
▪ Growing

Step 2: Can Unilever be competitive and make money?

PROs CONs
▪ Owns already 81% of market ▪ Risk of cannibalization.
Short-term

share ▪ Does Unilever have the right skills

▪ Growth of revenues and structure for this segment?
▪ Pre-empt competition ▪ Would it achieve Unilever’s required
ROI?
PROs CONs
Long-term

▪ First-mover advantage. ▪ Increasing commoditization.

S ▪ Acquire new capabilities. ▪ Against global branding.
▪ Improve market infrastructure. ▪ Impact on corporate image.

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Possible positioning (1/2)

1 Low-price: cf. Invicto, Campeiro and all other local brands

▪ = “Buy the poor guys’ brand!”

▪ Have low brand equity because of low quality (little foam, weak perfume)
▪ people buy the price not the brand (switch as soon as they can afford it)

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Possible positioning (2/2)

2 Aspirational: cf. Omo

▪ = “Buy the rich guys’ brand!”

▪ To be credible, would have to be delivered with high quality (product, packaging)
▪ Which makes it unprofitable if priced to low, or unattractive to the LI consumers
if priced too high
▪ Could create confusion and increase cannibalization with Omo

3 Value:

▪ = “Buy the brand that offers the best value for your needs!”
▪ To be credible, would have to delivered the functional, emotional and symbolic
value that LI-NE consumers want (through all 4P’s, not just affordable low price)
▪ Would cannibalize Campeiro (but the brand is very weak)
▪ Would protect Omo (because Omo is for washing machines)
S

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Choosing value positioning

• Positioning statement: “For the low-income women of the Northeast,

(new product) leaves clothes whiter and smelling better at a lower cost
than other powder detergents because it is the first to understand you and
your clothes-washing needs”

What branding strategies could be chosen?

Which one to finally decide for and why?
S

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Unilever’s and Procters’ brand portfolio

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Branding strategy

Extend Omo or Minerva? (e.g. a cheaper Omo for hand washing sold in small packs)?
1
• Risk of confusion with Omo:
⮚Why buy expensive Omo if one can buy a cheaper version?
⮚Omo must remain premium brand for washing machine use
⮚A cheaper version would also be sold in the SE (nationwide wholesaler)

2 Reposition a weak brand like Campeiro

• Consumer research showed consumers expected a different brand for such a different
positioning

3 Sell existing brands that were not sold in Brazil

• e.g. Surf, Unilever’s global brand positioned at the low-end of the market, BUT: Surf
was seen as too masculine (connection with surfing and beach lifestyle)

• E.g. use the Argentinean brand Ala,

⮚a non descriptive name with no obvious associations,
⮚easy to pronounce and to read
S ⮚3 letters, primarily the A initial which is recognized even by those who are
illiterate
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Detergent powders structure at Unilever in Latin America

Positioning
Price Positioning Brand in Brazil Brand in Argentina
platform

Technology Leader ▪ Very high ▪ Offers the most ▪ None

advanced technology
available for washing
clothes

Top Performance ▪ High ▪ Offers the best ▪ None

performance and the
ability to remove the
toughest stains

Clean & Care ▪ Average ▪ Offers the best care ▪ None

for your clothes and
softness

Looks Great ▪ Average ▪ Offers total whiteness

Smart Shopper ▪ Low ▪ Offers good value for

money
S

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Ala’s positioning statement

For low-income women of the Northeast who wash clothes by

hand, Ala is better than Omo because it whitens and perfumes clothes
better and at a lower cost.

Which marketing mix chosing

to align with the marketing strategy?

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 Key decisions of marketing mix

A new brand

Priced at 55% of Omo

With a new formula

Plastic packet

Primarily below-the-line promotion

S Independent distributors

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Product development and production innovations

Create new formulation with a different mix of attributes:

• Key attribute = whiteness
• Attribute that can be forgone = washing machine performance, ability to remove stains,
color performance and dissolution
• Attributes to be improved relative to Minerva’s formaulation: perfume and foam

Manufacturing a superior product at a fraction of costs:

• Production process that does not require heating and drying the pulp
• Location of the plant near large sites of sodium chloride production to replace the
previously imported and expensive sodium sulphate
• Savings on electric power by using natural ventilation and daylight
• Automation and cheaper local labor

Innovations in packaging:
• Cheaper plastic packets instead of cardboard boxes
S • Cost saving turned into a consumer benefit: it provides better protection from
dampness which is crucial when washing process takes place in rivers (but it is not
green!) © Nathalie Prime
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Pricing at only 50% of Omo

▪ Ala was the cheapest detergent powder available in the NE

▪ Ala was cheaper than lower quality Invicto (which was priced at 60% of Omo)

S
Detergent Powder Laundry Soap (launched later)

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Promotion

All communication channels but with special emphasis on non-media sales

promotions:

• The inverse of the traditional media split used by Unilever:

⮚Media adv. (40%)
⮚Non media communication and consumer and trade promotions (60%)
• TV:
⮚brand awareness + association of Ala and its main benefits
⮚The first to show LI consumers in their daily lives
⮚No emphasis on low price BUT on the savings made (better care of the family:
buying a doll)
▪ Ala is not a brand for the poor but a brand that promised to fulfill their
functional and symbolic needs

Creating a Phenomenal Word of Mouth

▪ 8 cinevans driven by local actors who traveled around the NE demonstrating the
performance of Ala
S
▪ Attraction of people to the village center through live music and big-screen videos

▪ Show of the correct procedure to use Ala (without a bar soap) © Nathalie Prime
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Maria Conceição with Ala, Unilever’s new detergent for
low-income consumers

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 Cinevan

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Sponsorship of some of the most popular events in the
Northeast of Brazil (1/3)

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Sponsorship of some of the most popular events in the
Northeast of Brazil (2/3)

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Sponsorship of some of the most popular events in the
Northeast of Brazil (3/3)

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Heavy investments in POP marketing

▪ Bright orange color to generate visibility and quick recognition on the shelf

▪ Introduction in the NE of materials used in the SE (streamers, banners, blimps,

adhesives and shelf display)

▪ Welcoming of small retailers of POP marketing (as opposed to mass retailers)

▪ Painting of some strategically-located retail stores with Ala’s colors

▪ Painting outdoor murals with Ala’s colors (proved very cheap way to generate
great visibility (cost : $8/ m2)

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Point-of-sales material

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 Wall painting

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 An innovative distribution strategy

How to reach LI consumers in small retail stores where they shop?

3 pillars of the sales and distribution strategy:

Speed-to-market Visibility Price control

▪ Development of a network of specialized distributors (not national wholesalers)

Huge task to find and train these distributors (18 areas in the NE): 80% of sales
S (20% remaining sold to large retail chains directly, e.g. Ahold, leader in the NE)

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Evaluation of Ala’s performance

Cleanliness, Stain Dis-

whitening, Smell, removal solving Packa- Harm to
productivity softness ability power ging colors

Importance: 24% 20% 16% 16% 13% 11%

Consumer
Expectations
Range

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Perceived quality and perceived price of major
detergent brands in the Northeast
200
Omo

Ace
Perceived quality index

Bold
Ala Minerva

100

Campeiro
Pop
Invicto
0
S 0 100 200

Price index
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 Actual Cannibalization Rate:
Where did Ala Volume Come From?

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 Other developments

Ala launched nationwide: less success due to…

▪ Differences in consumer expectations

▪ Cost of transportation (+60% of Omo)

▪ Higher wholesaler power in the South

▪ Reduced focus on Ala now that it was part of Unilever Brazil instead of being
marketed from the local structure

▪ Ala continued to gain market share in the north up to 19.3% in 2007

S

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 Original Ala Products and Later Extensions

Original Ala Tropical

Perfume

Ala Soap Bar

In Paraguay
S

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 Danone – Grameen bank in Bengladesh (rural BOP) –
marketing strategies for low-income consumers

Unilever in Brazil
1
(urban BOP)

Danone – Grameen bank in Bangladesh

2
(rural BOP)

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2
 A social business model

GRAMEEN DANONE FOOD Ltd

▪ Social innovation to bring nutrition to

the poor in Bangladesh and to valorize
and professionalize local populations

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 Bangladesh background: population pyramid

Demographic Information
▪ Total population:
▪ 144 million - 80% rural
▪ 41% aged below 14 >€4.1 a day
▪ Average family size: 4.9 14% (>333Tk)
▪ GDP / cap : 600$ a year
▪ Density : 1000 p. / km²
€2.9-4.1 a day
11% (233-333Tk)

€2-2.9 a day
16% (167-232Tk)

€1-2 a day
GRAMEEN DANONE Focus 37% (83-166Tk)

S 22%

Sources: 2004 statistical yearbook of Bangladesh, 2005 estimates on total population, household income per day © Nathalie Prime
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 Key health / Nutrition concerns in Bangladesh

Health concerns:

▪ Stunting (41% of young children)

▪ Diarrhea
▪ Polluted water (arsenic, bacteria)

Macro Nutrition Issues Micro Nutrition Issues

▪ Overall energy deficiency, particularly ▪ Iron (49% among young children)
among young children (between 24% ▪ Vitamin B2
and 40% gap vs RDA) ▪ Calcium
▪ Protein deficiency: 87% of protein ▪ Vitamin C
source is vegetal (lentils and beans), ▪ Vitamin A
S ▪ Deficiency in essential amino-acids ▪ Iodine and zinc likely

Source: Grameen/local NGOs © Nathalie Prime

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 Danone’s business model in Bangladesh

S
Link to
video © Nathalie Prime
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 Danone’s ShoktiDoi:
an innovative yoghurt full of nutrition

▪ ShoktiDoi has been specifically developed by Danone’s

experts in R&D, with technical help of GAIN, to fulfil the
nutritional needs of children in Bangladesh and to contribute to
their healthy growth by bringing them the benefits of milk, live
cultures and other micronutrients they lack.

▪ ShoktiDoi contains milk, sugar, date molasse, starch, Zinc,

Iron, Vitamin A, Iodine and Danone special blend of yoghurt
cultures (Lactobacillus Bulgaricus, Streptococcus
Thermophilus).

▪ Each 60 g cup of ShoktiDoi brings ~ 12.5% of RDA in Calcium

and is fortified with 30% of RDA in Zinc, Iron, Vitamin A and
Iodine.

▪ ShoktiDoi is produced by Grameen Danone Foods Ltd (GDFL)

in a small modern factory in Bogra, built with the Danone
S know-how on quality and food safety.

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 Benefits of micronutrients and live cultures

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 A social business model with 5 objectives…

1 Health through nutrition at a very affordable price for all Bangladeshi children

Improve living conditions of the poorest in the community by involving them in all
2 stages of the business model

3 Preserve natural resources as much as possible

4 Profitability to ensure return on capital and sustainability

Micro / proximity business model to ensure ownership and learning by local

S 5 population, and macro replication

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 Efficacy study currently ongoing with “GAIN” (Global Alliance for Improved
Nutrition)

▪ Evaluate the impact of a fortified vs. non-fortified yogurt

Objective ▪ Evaluate the impact of a fortified yogurt vs. no regular yogurt consumption
at all

▪ Evaluate the impact of the fortified yogurt on morbidity, growth, cognitive

Specifics development and status indicators
▪ Over periods of 6 months and one year

▪ Principal investigator: Sunil Sazawal MD, MPH, PhD

▪ Primary Institution: Johns Hopkins university, USA
▪ Collaborating Institution: Center for Micronutrient Research, India
▪ Partnership: GAIN (funding and technical advising)
S

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 “Danone Communities”

1 ▪ support social businesses such as GDFL

Mission ▪ bringing health through food to as many people as possible
▪ in areas where Danone can concretely add competencies

2
▪ Grameen-Danone + 3 others projects in incubation phase in Africa and
Projects
Asia, in Water, Baby-Food and Dairy

3
Financial Tool ▪ French SICAV to finance those social businesses (10% of 65M€)

4
S ▪ Danone, NGOs, suppliers, subscribers, local teams, academics… who want
Network
to engage into social business solutions (www.danonecommunities.com)

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 A partnership with complementary competences

50% 50%
▪ Technical expertise in ▪ Technical expertise &
R&D, nutrition, assistance in local
manufacturing, quality, regulatory environment,
marketing micro-credit financing,
agriculture mgt,
distribution and
consumer education

S ▪ Technical expertise in
fortification, nutrition
marketing, efficacy study
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 Professor Muhammad Yunus: the importance of training

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 S
Impactful volunteers Sales Ladies
Little stories of empowerment: experience to educate

danone.communities Autonomous
network factory
74
© Nathalie Prime
 Danone’s ShoktiDoi:
sales channel developing entrepreneurship

Source: Bogra, Bangladesh. June 19, 2007.

• Roshonara, a Grameen Lady, selling Shoktidoi yogurt, door to door.

• She sells approximately 70-100 cups a day. She is able to supplement her household
S income by about 17 dollars a month.
• Her husband is a rick-shaw driver making less than 100 dollars a month.
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 Danone’s ShoktiDoi:
sales channel developing entrepreneurship

Source: Bogra, Bangladesh. June 19, 2007.

▪ Grameen Ladies meet with representatives of Danone to learn about the product and
possibly become sellers of this product. Emmanuel Marchant, head of
S danone.communities, sitting to left of picture.

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Conclusions – International Marketing Decisions targeting BOP markets

1 Conclusion 1: Overall, 12 principles and challenges of innovation for BOP Markets

2 Conclusion 2: A change in paradigm: from the 4Ps to the 4As

3 Conclusion 3: Key elements of value creation for BOP markets

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Conclusion 1: Overall, 12 principles and CHALLENGES
of innovation for BOP markets

1 ▪ Radical product redesign from the beginning: marginal changes to existing Western
products will not work.
▪ Focus on price-performance ratio (“value for money”).
▪ Hybrid solutions, blending old and new technology.
▪ Scalable and transportable operations across countries, cultures and languages.
▪ Reduced resource intensity: eco-friendly products.
▪ Products must work in hostile environments: noise, dust, unsanitary conditions,
abuse, electric blackouts, water pollution.
▪ Build logistical and manufacturing infrastructure.
▪ Focus on broad architecture, enabling quick and easy incorporation of new features.
▪ Deskill (services) work.
▪ Educate (semiliterate) customers in product usage.
▪ Adaptable user interface to heterogeneous consumer bases.
▪ Distribution methods should be designed to reach both highly dispersed rural markets
I and highly dense urban markets.

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Conclusion 2: From the 4Ps to the 4As (1/2)

2 Marketing programs are recipes that blend marketing mix variables to

generate the most value for the market.

Product Acceptability

Price Affordability
MARKETING
PROGRAMS
Place Accessability

Promotion Awareness

I Market Value Acceptability Affordability Accessibility Awareness

= X X X
Potential Value Value Value Value
Source: J. Sheth, IIM Ahmedabad Conference, Marketing Paradgims for Emerging Economies, 11-13 Jan 2005. © Nathalie Prime
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Conclusion 2: From the 4Ps to the 4As (2/2)

2
Acceptability Affordability Accessibility Awareness
Product or Value Value Value Value Market Value
Service Coverage
Coverage Coverage Coverage Coverage

F 25% 25% 25% 25% 0.39%

E 50% 50% 50% 50% 6.25%

D 100% 50% 50% 50% 12.5%

C 100% 100% 50% 50% 25%

B 100% 100% 100% 50% 50%

A 100% 100% 100% 100% 100%

I

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Conclusion 3:
Key elements of value creation for BOP consumers

I
Source: CASE study « Schneider Electric in
India », INSEAD, 2012. © Nathalie Prime
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Key learning points

Even if difficult to estimate precisely with updated data, BOP markets represent large
1
hidden opportunities.

2 Addressing BOP markets cannot be longer avoided for sustainability reasons.

3 BOP marketing strategies are both disruptive, requiring radical innovations, and
classical, requiring rigorous marketing approach to develop, deliver and communicate
value (researching markets, segmenting-targeting-positioning, developing related
marketing offerings).

4 The paradigm shift: getting the margin from the volumes and not from the price,
adapting the classical 4 Ps to the 4 As, understanding the major differences and
similarities for delivering value to high vs. low income consumers.

I 5 MNCs from Triad markets do not have – up to now – the capabilities to efficiently
grow on BOP markets.
© Nathalie Prime
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List of links to videos

▪ Hans Rosling - IKEA boxes demonstration http://www.gapminder.org/videos/population-growth-explained-with-ikea-

boxes/

▪ Hernado de Soto The power of the poor

https://www.freetochoosenetwork.org/programs/power_poor/

▪ Navi Radjou (2014)

https://www.ted.com/talks/navi_radjou_creative_problem_solving_in_the_face_of_extreme_limits?language=fr

▪ Developing hybrid value chains

http://www.youtube.com/watch?v=f29BXyGL2sk

▪ HYSTRA: https://www.hystra.com/covid19-crisis

© Nathalie Prime
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