A Lifestyle Study for Market Segmentation at the Base of Pyramid (BoP) in India

Abstract

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Influence of Needs and Lifestyles on the Bop Consumer:

“…The same scenario is for the other typologies of lifestyles. However, it was interesting to identify that contrary to beliefs that BOP consumers prefer only low prices (Ernst et al, 2015;Jagtap et al, 2014;Lee & Kim, 2018;London et al, 2010London et al, , 2014Prahalad, 2005;Sheth, 2011;Viswanathan & Sridharan, 2012), a specific group (innovators and strivers) does not mind paying high prices for brands that represent a different social status. Primarily, technological products are associated with them, confirming that technology for the BOP market is fundamental (Dey & Binsardi, 2016;Irugalbandara & Fernando, 2019;Prahalad, 2005).…”

“…On the other hand, Lee and Kim (2018), established that this group of consumers should be evaluated: the level of education, culture, and religion. In this sense, the study revealed a high incidence of these factors, mainly in culture and religion.…”

“…However, they are consumers looking for good quality based on affordable prices. Lee and Kim (2018) found that for BOP consumers, products and services should be provided at prices proportionate to what they can afford, Cuadernos de Desarrollo Rural, Colombia, vol. 19, 2022 but it is also important to consider other factors such as level of education, culture, and religion.…”