challenges to make bottom of the pyramid markets a profitable ones

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1 Challenges to make Bottom of the Pyramid markets Profitable ones Dr. B. R. Londhe Professor SIMS Pune Introduction Globalization has changed the ways by which companies create value. Strategies used by the global companies in post globalised era in developing m arkets is not an extrapolation of the past experiences of developed countries, nor is it just about low costs and outsourcing. The real opportunities lies in the proliferation of ways to design a better business concentrating on the BOP market, Creativity is thinking up new things and innovation is doing new things innovation is the process of turning ideas into manufacturable and marketable form. Innovation, like spring, is in the air. Creativity is all the rage, As Einstein said it seems managers are more and more using their legs (and their brains) to convert their ideas into constructive products. Indeed, a lot of serious surveys show that more and more product or service innovations arrive on the market. According to a survey made by the WTO in 2003, for 100 new products or services developed in 2000, there were 123 in 2002, and 164 in 2003. How come this quite new and tremendous interest for what should be a daily preoccupation of managers? Economists see a direct relationship between technology change and economy growth. Management gurus base their theories of competitive advantage on innovation . Objectives of the study 1. To study various global and local examples of innovations for BOP consumers 2. To s tudy the market potential at Indian BOP market 3. To study characteristics of Indian BOP consumers 4. To s uggest innovation for model strategi es for Indian BOP market Global and Local examples of innovation for Bottom of the pyramid 1. In the 1950s, Professor Gavril A bramovich Ilizarov devised and developed his revolutionary method for treating fractures, deformities and other bone defects. Using a circular external fixator he was able to show that controlled, mechanically applied tension stress produced reliable and reproducible regeneration of bone and soft tissue. Prasad Narayan Kulkarni of Sangli was determined to bring this technology to Indian masses and, with limited support under TePP, developed a motorized auto-distractor . Clinical trails showed promising results of bone regeneration, a boon to correct birth defects of short or deformed legs.

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