The Bottom Of The Pyramid (Bop) Market Business Plan

2713 words - 11 pages

Table of Contents

1. Introduction……………………………………………………………………………5
2. Outcome of Primary Research
i) FMCG Products……………………………………………………………….6
ii) Opinion regarding the ‘Life Filter’…………………………………………….8
3. Marketing Plan
i) Product…………………………………………………………………………….9
ii) Price………………………………………………………………………………10
iii) Place……………………………………………………………………………...11
iv) Promotion………………………………………………………………………...12
4. Modifications to ‘The Life Filter’……………………………………………………14
5. Conclusion……………………………………………………………………………15

Introduction

This project comprises of two parts, i.e to find out the most frequently used FMCG products by BOP markets and also to formulate a marketing plan for a product innovated by us.

FMCG products can be described as products which are most commonly used by people. They are known as fast moving consumer goods as they are required most frequently by people. As BOP consumers have monetary restrictions they have to ration their purchases and purchase only those goods which are most essential. As the analysis of the survey given below will indicate BOP consumers purchase only some of the FMCG products on a regular basis and purchase only from the local ‘kirana’ stores or ‘mama-papa’ stores.

The product innovated by us is known as ‘The Life Filter’ which is a water filtration system.

Clean water being a scarce commodity in today’s time and especially scarce for the BOP market, this product is a revolution aiming at providing BOP consumers with a more stable supply of clean drinkable water. ‘The Life Filter’ is a water filtration system that can adapt itself to the size of any container; it filters out 99.9% of bacteria, parasites and other undesirable particles. Thus, BOP consumers can attach this to their water collection containers and can fill water from rivers, lakes, ponds etc. and get access to clean drinkable water.

Outcome of the Primary Research – FMCG Product

The survey that we undertook was basically to understand the usage of Fast Moving Consumer Goods in the market and to relate it to the BOP market. We started by finding out the usage of these goods for the purpose of which we conducted a survey of 5 families from the BOP market. Most of the respondents are working as domestic helpers or cook in different parts of Pune with an average salary of Rs.4000-Rs.5000.

One of our first questions revolved around finding out what are their means of purchasing these goods. All the respondents made their purchases from their local kirana stores, which is the most convenient for them in all manners. The most obvious reason why they buy their goods from these shops is because of its proximity from where they stay.

1.1. Graph showing the consumption of FMCG goods.

Moving on, we also tried to understand how brand conscious these consumers are and what kind of brands they prefer. First talking about Skin care, since most of them do not come from an economic background where...

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