Addressing the Ethical Challenge of Market Inclusion in Base-of-the-Pyramid Markets: A Macromarketing Approach

Aiyar, Anaka; Venugopal, Srinivas

doi:10.1007/s10551-019-04275-9

Cited by 20 publications

(13 citation statements)

References 75 publications

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“…Future research can focus on both the demand and supply side of the BC operation. For instance, the understanding of different stakeholder's perceptions about the status of financial inclusion can be a potential avenue for research from the governance perspective (Behera, Pratihari, & Mohapatra, 2013;Uzma, 2016); and macromarketing perspective for the well-being of the society as a whole (Aiyar & Venugopal, 2019). Besides, banks can engage and utilize the local network and resources of the channel members with different value co-creation activities such as the implementation of different corporate social responsibilities (CSR) initiatives in the target markets (Perez, Rodriguez, & Bosque, 2014;Perez & Bosque, 2015;Pratihari & Uzma, 2018).…”

Section: Resultsmentioning

confidence: 99%

Financial Modelling for Business Sustainability: A Study of Business Correspondent Model of Financial Inclusion in India

Uzma

Pratihari

2019

Vikalpa

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Executive Summary The study highlights the need for measures to accelerate the pace of the business correspondent (BC) model for financial inclusion in India. The financial analysis of the existing BCs with the existing products and services in practice shows a very diffusive break-even (more than 7 years). The occurrence of such a long-term break-even point can be a potential threat to the sustainability of new and struggling entrepreneurs like a Customer Service Point (CSP). A CSP agent runs a kiosk of a certain bank in a rural context, functioning like a BC between the bank and the beneficiaries. The primary investigation found that high cost and low volume of transaction at the CSP points are two major causes of the long break-even. In this context, the study revisited the constructs related to cost structure, market outreach, market potential and commission structure for channellizing respective banking and non-banking products. The major categories of products include (a) banking operation, (b) loan and over-draft, and (c) social security schemes. In search of a solution, the study adopts a non-random stratified sampling technique with a semi-structured interview process to collect the data from different stakeholders in the BC operation. To develop an economically viable BC model, the researchers use a standard financial modelling technique. In contrast to the existing kiosk model of CSP operation, the study found that while applying the new model a CSP agent takes three years to break-even under the same condition as that of the existing model. The study can also be applied in the domain of bottom of the pyramid (BOP) marketing by treating to create value among the low-income customers and business partners like CSPs. This research can further be extended to investigate the viability of the BC model from the banks’ return on investment perspective.

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Section: Resultsmentioning

confidence: 99%

Financial Modelling for Business Sustainability: A Study of Business Correspondent Model of Financial Inclusion in India

Uzma

Pratihari

2019

Vikalpa

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“…Such studies reveal the fact that various aspects of life are intertwined in subsistence contexts. Therefore, impact assessment in subsistence contexts mush eschew disciplinary reductionism and adopt the philosophy of holism that lies at the core of systems thinking (Aiyar and Venugopal, 2020). Systems thinking requires us to step out of our own disciplines and examine life circumstances holistically.…”

Section: System‐theoretic Perspective and Community‐centric Approach mentioning

confidence: 99%

Envisioning a community‐centric approach to impact assessments in subsistence marketplaces

Venugopal

2021

Journal of Consumer Affairs

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What does a community‐centric approach to impact assessment look like? That is the central question addressed in this article. Our community‐centric perspective provides an alternative to discipline‐centric approaches to impact assessment that emphasize specific methodological gold‐standards (e.g., randomized controlled trials [RCTs] in development economics). Disciplinary approaches to impact assessment owe their principal allegiance to the discipline's knowledge‐creation norms. Consequently, the concerns, interests, and voices of community members are not fully captured in the impact assessment process. In this article, we flip the conventional perspective to offer a community‐centric view of impact assessment that places the concerns, interests and voices of community members front and center. We present the case for why we need a community‐centric approach to impact assessment and clarify its axiological content, theoretical perspective, and methodological stance. Specifically, we advocate for a relational axiology, a system‐theoretic perspective, and a phenomenological methodology.

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“…More recently, Facca-Miess and Santos (2016) formulated a multi-dimensional model for evaluating marketing conduct and performance. Concern for the poor and vulnerable ( Laudato si ’ at [48]) has been long standing in macromarketing scholarship (Andreasen 1997; Hill 2002; Kotler, Roberto, and Leisner 2006; Laczniak and Santos 2011; Agnihotra 2012; Gau et al 2014; Kolk 2014; Aiyar and Venugopal 2020). Particular attention has been given to vulnerable consumers, often victims of predatory practices or redlining (e.g., Baker, Gentry, and Rittenburg 2005; Baker et al 2015; Beninger and Shapiro 2019; Commuri and Ekici 2008; Pavia and Mason 2014; Rowthorn 2019; Ringgold 2005).…”

Section: Macromarketing Thought – Responding To Dominant Managerialismmentioning

confidence: 99%

Laudato si’ – A Macromarketing Manifesto for a Just and Sustainable Environment

Klein

Laczniak

2020

Journal of Macromarketing

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This paper posits that Pope Francis’ 2015 encyclical on environmental climate change, Laudato si’ (“Praise be to you, my Lord”), or LS for short, provides a compelling and multi-faceted framework for co-creating a just and sustainable environment. LS includes considerable commentary about how markets and marketing impact the physical and social environment. Additionally, the document provides religion-inspired ethical norms for market conditions, actions, and performance that reflect both (a) the social teachings of the Catholic Church as they have evolved over the past 125 years and, as we will explain, (b) a foundational predicate of macromarketing scholarship – that is, a recognition of market systems as the primary mechanism for effectively and efficiently provisioning goods and services in contemporary society. The intent of this paper is also to harmonize two perspectives of business purpose regarding ecological issues (i.e., ethical efficacy vs. economic efficiency), commonly seen as conflicting and mutually exclusive. Absent that harmonization, those perspectives appear to force a choice between “social values and norms” and “economic incentives and circumstances” – a dichotomy that is neither optimal nor practical. Rather, we recognize that key themes in Laudato si’(LS) - environmental stewardship, concern for social justice, and a “common good” orientation that supersedes economic advantage - also correspond to issues addressed by macromarketing scholars since that sub-discipline emerged. LS is foremost a powerful “Call to Action” for those who care about protecting the ecological environment. However, LS is intentionally vague about specific solutions. It defers to analysts, academics, and policy experts to provide those. This paper outlines how macromarketing researchers are powerfully positioned to suggest the specific market and policy adjustments called for in LS.

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Addressing the Ethical Challenge of Market Inclusion in Base-of-the-Pyramid Markets: A Macromarketing Approach

Cited by 20 publications

References 75 publications

Financial Modelling for Business Sustainability: A Study of Business Correspondent Model of Financial Inclusion in India

Financial Modelling for Business Sustainability: A Study of Business Correspondent Model of Financial Inclusion in India

Envisioning a community‐centric approach to impact assessments in subsistence marketplaces

Laudato si’ – A Macromarketing Manifesto for a Just and Sustainable Environment

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