Rethinking the bottom of the pyramid: Towards a new marketing mix

Sonal Purohit, Justin Paul and Rikee Mishra

Journal of Retailing and Consumer Services, 2021, vol. 58, issue C

Abstract: The purpose of this study is to re-conceptualize the conventional marketing mix for Bottom of the Pyramid (BoP) markets and propose a revised framework by reorganizing the elements based on the customer perspective while retaining the principles of services marketing. Primary data was collected through a questionnaire with a sample size of 400 people from both urban and rural markets in the BoP. Findings indicate that the needs and perspective of the BoP members is distinct from the Middle of the Pyramid (MoP). Managers should consider this point while formulating marketing mix strategies for BoP markets. The present study is the first of its kind to present a revised marketing mix framework for customers in the BoP markets. The framework comprises five Ps, including personalization, product, place, the process of service delivery and price. Thus, a theoretical contribution is made in the context of service marketing and the BoP.

Keywords: Bottom of the pyramid (BoP); Financial services; Service marketing; Marketing mix; Factor analysis (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joreco:v:58:y:2021:i:c:s0969698920312832

DOI: 10.1016/j.jretconser.2020.102275

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