In economics, the bottom of the pyramid is the largest, but poorest socio-economic group. In global terms, this is the 4 billion people who live on less than US$2.50 per day. The phrase “bottom of the pyramid” is used in particular by people developing new models of doing business that deliberately target that demographic, often using new technology. This field is also often referred to as the "Base of the Pyramid" or just the "BoP".
Several books and journal articles have been written on the potential market by members of business schools offering consultancy on the burgeoning market. They include The Fortune at the Bottom of the Pyramid by C.K. Prahalad of the University of Michigan, Capitalism at the Crossroads by Stuart L. Hart of Cornell University and the first empirical article, Reinventing strategies for emerging markets: Beyond the transnational model, by Ted London of the University of Michigan and Hart. London has also developed a working paper, commissioned by the United Nations Development Programme, that explores the contributions of the BoP literature to the poverty alleviation domain.
Read more about Bottom Of The Pyramid: History
Famous quotes containing the words bottom of the, bottom of, bottom and/or pyramid:
“How it is I know not; but there is no place like a bed for confidential disclosures between friends. Man and wife, they say, there open the very bottom of their souls to each other; and some old couples often lie and chat over old times till nearly morning. Thus, then, in our hearts’ honeymoon, lay I and Queequeg—a cosy, loving pair.”
—Herman Melville (1819–1891)
“In things abstract, men but differ in the sounds that come from their mouths, and not in the wordless thoughts lying at the bottom of their beings.”
—Herman Melville (1819–1891)
“The psychoanalysis of individual human beings, however, teaches us with quite special insistence that the god of each of them is formed in the likeness of his father, that his personal relation to God depends on his relation to his father in the flesh and oscillates and changes along with that relation, and that at bottom God is nothing other than an exalted father.”
—Sigmund Freud (1856–1939)
“So universal and widely related is any transcendent moral greatness, and so nearly identical with greatness everywhere and in every age,—as a pyramid contracts the nearer you approach its apex,—that, when I look over my commonplace-book of poetry, I find that the best of it is oftenest applicable, in part or wholly, to the case of Captain Brown.”
—Henry David Thoreau (1817–1862)