THE FORTUNE AT THE BOTTOM OF THE PYRAMID - C.K.PRAHALAD

This is not review about the "THE FORTUNE AT THE BOTTOM OF THE PYRAMID" . This is just a short summary or important points to be taken care when businesses focus on BOP. 

This is really interesting book and if you get an opportunity to read this book never miss it, it’s worth reading. Some of the key points which I gained from this book are.... 

• Most of the Businesses focus more on Tier 1 and Tier 2 cities and they miss the huge opportunity that is underlying in the bottom of Pyramid. This book explains fortune at BOP and strategies that should be adopted by businesses and some successful examples. 
• The BOP as a segment consists of an estimated 4 billion people who live at below $2/day. 
• There is an assumption that there is no money at the BOP. But the reality is that BOP offer huge opportunity due to their large numbers.
• There is also an assumption that it is difficult to reach there, yes it is difficult when compared to Tier 1 or Tier 2 cities but there are many companies who succeeded in reaching BOP. Example: Project Shakti from Hindustan Lever Limited.
• To reach BOP you need to focus on Affordability (without compromising on quality and efficacy), Accessibility and Availability. 
• Don’t just focus on Product development focus on Process development. Develop innovative process to reach BOP, such that it reduces your cost and also reach maximum customers.
• Educate your customers about usage of product.
• BOP market is a Golden Opportunity, where when you try to innovate in BOP in market it can give you more learning’s which can be used to cater other markets globally.
• The author suggests that businesses should focus more on wealth creation rather than just building market. Example: E-Choupal by ITC, Project Shakti from Hindustan Lever Limited etc. It is about building sustainable community.
• Another well understood but poorly articulated reality is the role of women in development.
• Last point suggested by author is that the social transformation should lead the pyramid structure to morph a diamond. Pyramid depicts unequal distribution in the society.

Also read some success stories such as Parle-G, Amul, Nirma, HLL, ITC etc to better understand about this BOP Market.