Answered: ‘Marketing to the bottom of the pyramid…

‘Marketing to the bottom of the pyramid (BOP) offers opportunities to companies but at the same time ethical concerns surround the BOP marketing proposition.’ Critically discuss this statement.

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter1: Exploring The World Of Business And Economics

Section: Chapter Questions

Problem 4DQ

See similar textbooks

Related questions

Q: Why might digital marketing be considered separate from the rest of the promotion mix?

A: Digital marketing refers to the use of digital channels for marketing communication, such as…

Q: Are physical distribution and materials management being replaced by logistics management thus…

A: As the name implies, logistics management is a subset of supply chain management that focuses on…

Q: What is meant by the term Delegation?

A: The concept of decentralization means assigning responsibility to the subordinate, providing…

Q: What are the major methods used for transfer pricing?

A: Transfer pricing is an accounting and tax approach that allows companies with shared management or…

Q: ustomer profitability analysis is very important topic to managers in the modern business…

A: Customer Profitability Analysis is a method of analysing the needs , wants ,…

Q: What are the activities performed by the business to produce a product or service successfully?

A: The entire process of bringing a product to request is appertained to as product development. It…

Q: List the tasks provided by job rotation.

A: Job rotation is a well-planned practice used to reduce boredom from doing the same type of job every…

Q: What was the purpose of the “accelerated growth plan” for Starbuck?

A: Introduction: Starbuck is one of the leading coffee and beverages chain in the world. Although…

Q: In social marketing, ___ is not as common BUT it helps create visibility and memorability.

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Discuss 5 importance elements in managing customers satisfaction through telephone call

A: Satisfaction is the outcome when the expected performance of the product matches with the actual…

Q: Consider AI's pros and cons.

A: AI- artificial intelligence Artificial intelligence is the computer emulation of human intelligence…

Q: What is the meaning of "People do not buy goods or services. They buy relations, stories and magic"…

A: Any brand in a competitive market following a holistic marketing approach focuses more on Customer…

Q: When online encyclopedias were first introduced to the market, sales of hard copy encyclopedias…

A: A business doesn't operates in isolation there are various factors which impact the profitability…

Q: In a way that is both critical and analytical, discuss the benefits and drawbacks of receiving an…

A: Artificial intelligence (AI) is the capacity of a computer or a robot controlled by a computer to…

Q: What factors should be considered when selecting a site for a new manufacturing facility?

A: There are various activities going on in any company. These can be manufacturing, operations,…

Q: All of them solve. 1.Customer insights are an important outcome of marketing research. True or…

A: "Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain the impact of Promotional strategies in the growth, penetration and success of a brand.…

A: Promotional strategy - A plan or business approach to promote or catalyze the…

Q: How do legal and regulatory forces influence pricing decisions?

A: Business will never act in isolation. There will be numerous forces acting on the strategies and…

Q: How can service firms measure customer satisfaction?

A: The business sells both products and services to customers according to the needs of the market. The…

Q: What are the advantages and disadvantages of marketing a meatless burger under the Impossible brand

A: Marketing is a process in which firms compels its consumer to buy their product and services.…

Q: What is kano model and how can an affinity diagram help to understand the voice of customer?

A: Earlier marketers believed that the customers do not know what exactly they want because of the lack…

Q: Explain the process of automation in business.

A: A business process usually starts with an action that spans multiple business departments. The HR…

Q: Discuss the applicability of the General Electric Model in relation to market attractiveness and…

A: What is the General Electric Model? General Electric Model also known as GE McKinsey model was…

Q: create a customer segmentation for Lynk&Co company.

A: Lynk & Co is the automobile brand manufacturing company, which was established in 2016, in…

Q: Answer the questions: what are the foundation needed to consider for business brand?

A: A business brand creates identification for a company or an individual. Through business brand, a…

Q: QUESTION 13 QUESTION 14 Social capital is the productive potential of strong relationships,…

A: Question 13 & 14 Answer mentioned below

Q: 5. Are retailing and logistics concerned with product availability? Why or why not?

A: Retail logistics' is the organist cycle of dealing with the progression of product from the cause of…

Q: What are the advantages of using committees?

A: The committee is not a separate organisation in and of itself. It is simply an expanded version of…

Q: Explain matrix structure.

A: A matrix organisational structure is recommended if you need to manage multiple projects. Projects…

Q: What is the condition that the diversity program will be successful?

A: Diversity management refers to the effort made by the leaders of the organization to promote talent…

Q: explain the meaning of the following concepts Financial Program Commercialization Decline Stage…

A: Meaning of following concept.

Q: It divides the market on the basis of knowledge, attitudes, and behaviors relative to the product…

A: Market segmentation is the process of dividing a consumer market into smaller markets, and more…

Q: Explain the chain of command.

A: Most businesses have a hierarchy that defines who is responsible for what people, teams, or…

Q: a)Compare and contrast supermarkets and convenience shops by naming several characteristics of each…

A: answer a) A convenience store provides a limited selection of cooked and ready-to-eat meals, bottled…

Q: Which criticisms of promotion do you believe are the most valid? Why?

A: Criticisms of promotion means those promotions who are unethical & mislead their content with…

Q: Data warehousing's "Hybrid Approach": what is it?

A: Ans. Introduction Data warehouses are intended to be hybrid, which mixes the hierarchical and…

Q: The following are sentences relating to types of mergers and acquisitions. Which is/are true? [S1]…

A: Ans. Introduction Conglomerate mergers and congeneric mergers are two sorts of business mixes with…

Q: 3. Discuss the sustainability platform of Amazon, Inc. What things make this company a sustainable…

A: In the race of developing and maximizing profits, organizations today are compromising on the front…

Q: analyse the knowledge and skills in leadership and strategic management which are required to…

A: Knowledge and skill are the key elements which are required in every field . Knowledge means the…

Q: What are the benefits of quality control?

A: Product development is practice which involves engineering related to bringing new features and…

Q: Marketing managers have to review multiple aspects when deciding what specific promotional mix to…

A: Ans. Introduction All that you want to be familiar with the elements influencing promotion mix. A…

Q: Please enumerate the qualities that distinguish well-designed service systems.

A: Service Systems are one which are designed to accelerate the workings of the organisation . It…

Q: Analyze the bases used for setting prices

A: The pricing strategy effectively assist management to determine accurate price which would…

Q: Describe common channel structures and strategies and the factors that influence their choice

A: Management of channels supports the development of a distribution structure for selling and…

Q: Malkan Inn is a chain of hotels in the UK. It is the largest hotel brand in the UK, having around…

A: Mobile Analytics helps to capture the important and accurate data from the app, identify the active…

Q: Discuss if the internet will disintermediate retail, video, music, and apparel retailers

A: The process of removing the financial intermediary from a transaction is referred to as…

Q: segmentation and targeting more crucial than determining the marketing mix

A: Market segmentation is a process under which the target market of a company's product or services is…

Q: A market segment does not have to be measurable if it is substantial enough.

A: Ans. 9.) Introduction The term market segment alludes to people who are assembled for marketing.…

Q: Advise the Board about the quick actions you took at Makro due to COVID-19

A: To avoid the spread of infections, the retail business in South Africa has declared a 21-day…

Q: Please answer the following question below: 1) Analyze in detail some benefits of using a foreign…

A: Advertising: Advertising is a kind of marketing strategy, as it helps in sale of product through…

Question

100%

‘Marketing to the bottom of the pyramid (BOP) offers opportunities to companies but at the same time ethical concerns surround the BOP marketing proposition.’ Critically discuss this statement.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Introduction

VIEW

Discussing the statement: Part 1

VIEW

Discussing the statement: Part 2

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.

Similar questions

What are the most important ethical considerations that businesses should consider when developing and implementing their corporate marketing strategies? And how can businesses balance the need to generate profits with the responsibility to act ethically and in the best interests of their stakeholders, including customers, employees, and the wider community?
Take a product or service organization you are familiar with: List the key external environmental opportunities or threats that face the organization. What do you think are the organization’s main strengths and weaknesses? Suggest ways in which the organization might respond to external forces. Recommend a possible marketing strategy that will ensure that the organization Matches its internal capabilities with external opportunities
Write down the ethical theories that apply to marketing?
Your philosophy on ethics in marketing, corporate social responsibility and sustainability; and an explanation of how you would apply this in your future career in marketing.
The research department of Mark ‘2’ Limited in a recent stakeholder meeting argued that socially responsible businesses win the trust and respect of their employees, customers, and society and, in the end, increase profitability. With the knowledge you have acquired in this course, discuss an organization’s social responsibilities to its key stakeholders, the environment, and the community.
Briefly explain the nature of marketing ethics?
Identify a particular type of business you may wish to start. You are required to:1. Develop a written mission statement for that business2. Construct a set of goals for the business3. From the set of goals developed in (2) above, formulate specific verifiable objectives4. Devise a statement of social responsibility (CSR) for the business5. Discuss two strategies that you intend to adopt to grow the business
Describe the sustainability principles marketers can use to operate in a responsible and ethical manner? What is environmental sustainability? How should companies gauge their progress toward achieving it?
Describe how does a strong ethical foundation contribute to long-term business success?
There are literally 100’s of different definitions of marketing available on the internet, and even marketing textbooks will use their own definition of what marketing is all about. And in the business world, especially across industries, you will find that different firms and different managers have a somewhat unique view of the role of marketing. As you probably know already however, the key goals of marketing are to: generate long-term profits, deliver customer satisfaction, and improve the competitive strengths of the organization over time. But let’s now have a very simple look at the role of marketing based on these three goals. The above marketing goals are really all about getting and keeping customers. This means that can we break marketing down to three simplistic responsibilities: Attract new customers (Get) Grow share of customer (Build) Retain profitable customers (Hold) In other words – GET – BUILD – HOLD customers. Clearly, there is a whole array of marketing…
Marketing is creating values through undertaking numerous activities,which consequently serves the interest of a diverse range of stakeholders-critically analyze this statement with real life examples.
Discuss how does a strong ethical foundation contribute to long-term business success?