The other misconception behind international marketers ignoring the bottom-of-the-pyramid markets is that they believe there is no profit to be made in these markets. However, research has shown that there is a significant consumer base that can generate profits for companies willing to adapt their strategies and develop affordable products and services.
The other misconception cited by C. K. Prahalad regarding the international marketers ignoring the bottom-of-the-pyramid markets is that they believe there is no profit to be made in these markets. They underestimate the purchasing power and potential demand of the low-income consumers, assuming that they cannot afford the products or services.
However, research has shown that even in these low-income markets, there is a significant consumer base that can generate profits for companies willing to adapt their strategies and develop affordable products and services.