Question

In: Economics

Outline the opportunity that exists at the bottom of the economic pyramid. Can you think of...

  • Outline the opportunity that exists at the bottom of the economic pyramid. Can you think of a firm or existing product that can be modified to become profitable in the developing world?

Solutions

Expert Solution

To be profitable in the developing world it is important for a firm or company to set in the market and manufacture products according to their customers taste. And to know their customers taste, the needs, wants and their preferences is essential to manufacture. On the other hand firms or company should also decide the prices of their products according to customers affordability.

In the economic pyramid, if their is an inflation in market will lead to decrease in customers demand and in deflation it will lead to increase in demand.

So, pricing is also an essential factor for firms and companies to become profitable in developing world.

,

Rahul Sunny answered 1 year ago
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