Rama Bijapurkar discusses the bottom of the pyramid opportunity, stating that the real challenge is “to give consumers something that actually serves their needs well, at a price they can afford, and yet make a profit by creating and selling them through a system that is low cost enough to do so.”
She adds: “Markets will explode only if prices drop discontinuously or incomes increase discontinuously. The latter is unlikely to happen here. The former is the only way to go. So the first step to fishing in the bottom of the pyramid is to put together an innovation team consisting of a consumer insights person (to define price-performance that consumers will accept), a technology person, and a business process person all working together to make that breakthrough in price happen.”
