In the process of designing a business model to sell profitably to the poor, Widget Corp., an information technology firm, conducts a survey to determine the number of people willing to pay for the company's product instead of determining the number of people who require the product. It is evident that Widget Corp. aims to avoid _____ related to base-of-the pyramid markets.

Question

Quizplus · Accepted Answer

By focusing on the number of people willing to pay rather than the number who need the product, Widget Corp. aims to avoid the unmet needs trap, which occurs when companies overestimate the demand in base-of-the-pyramid markets by not considering the ability or willingness of these markets to pay for the products.

In the Process of Designing a Business Model to Sell