“To Study the Consumption Pattern of Bottom of Pyramid Group in Noida and Recommend a Product based on the Analysis” (A Consumer Behavior Assignment)
Ms. Mamta Mohan
E – 38 to E - 55
CB Group: 3
Amity Business School
List of Team Members:
Manish Raj Singh
Table of Content
Bottom of Pyramid
Objective of Study
Limitation of Study
Annexure – I: Sample Questionnaire
List of diagrams
Bottom of pyramid is the socio-economic group which constitutes the largest chunk of population and is the poorest section. The potential of this group has been found to be enormous in past few years. Researches and concept by Mr. C.K Prahalad has been very popular in this field. Many products such as Tata Nano, Shampoo Sachets etc have been the result of this concept. Further products could be developed keeping in mind the demography and consumption pattern of this group so as to cater to the enormous potential which they provide. The research aims at deriving the consumption pattern of this group clustered on the basis of occupation. The research shows how people in this group are merely able to spend on their basic needs and have no funds for luxuries or entertainment. Various facts have been drawn out in the paper regarding the said subject. The analysis also enables us to suggest some products which could be targeted for the BoP group.
Bottom of pyramid is constituted of the largest but poorest part of the population. Being the largest part of population this group is of special interest to present day marketers. The buying power of India as a whole has tremendously increased in past decade with a sustained growth rate of well over 7%. This has empowered the BOP also. The consumption of this group has also seen a surge. The urban markets are getting matured and customer is much more aware now, the competition is very stiff in these markets and very less scope for differentiation is left. In the given scenario exploring a new segment of market with a carefully designed product for them is very important. This new segment is the bottom of pyramid which has a tremendous potential and a huge consumption capacity. In order to cater their needs precisely and retaining them it is very important to understand the consumer behavior of this segment. Many researches suggest the growing strength of the base. Getting a clear idea about the lifestyle of the said group and its consumption pattern will help the companies to decide as to where is the gap in fulfillment of their needs and hence enable them to target the right market with the right product. The study of consumers helps firms and organizations improve their marketing strategies by understanding issues such as how consumers think, feel, reason, and select between different alternatives; how the consumer is influenced by his or her environment; the behavior of consumers while shopping or making other marketing decisions; limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome and how marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer.
NOIDA (New Okhla Industrial Development Area) has emerged as a planned, integrated, modern Industrial City, well connect to Delhi through a network of roads, national highways and the ultra - modern DND flyover, offering inter - road linkages to all...
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