A STAKEHOLDER PERSPECTIVE OF MARKETING AT THE BOTTOM OF THE PYRAMID (BOP) MARKET IN SRI LANKA.

Abstract

The nature of the BOP market in Sri Lanka is largely unexplored although there is considerable discussion on the impoverished consumer spanning over a decade of research in this area. BOP is a meso-level notion that provides opportunity for businesses to make profits at the same time helping poor alleviate poverty. While BOP provides a pathway for businesses, there is recognition that this proposition requires multiple players including government and non-government organizations to implement an effective business model. This study examines how a collaborative approach can be helpful for marketing at the BOP level which provides potential success for all stakeholders. Using a multiple case study approach, we analyse how the establishment of an alliance among the stakeholders drives the accomplishment of marketing objectives at the BOP market. The results reveal that the marketing mix for the BOP needs be developed by knowing the consumer attentively. The role of the government becomes transcendent specially in standardizing micro finance industry to support BOP initiatives and to avoid poverty penalty over consumers. This study provides many implications for marketing practitioners to develop strategies for BOP market in Sri Lanka and emphasize the importance of association with stakeholders.