C. K. Prahalad and associates introduced the concept of a global market, not necessarily defined by national borders but rather by the pockets of poverty across countries and consisting of 4 billion people across the globe with annual incomes of less than $1,200. They refer to these regions, concentrated in the LDCs and LLDCs, as ________ markets.

Question

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C. K. Prahalad introduced the concept of "bottom-of-the-pyramid" markets, focusing on the vast group of people globally living in poverty and their potential as consumers.

C K Prahalad and Associates Introduced the Concept of a Global