India's population is over 1 billion, but many live on less than $2 per day. That hasn't dissuaded some U.S. companies, though, because the shear number of poor consumers can still provide a market opportunity. So some companies have created products to meet the needs of this large group at a very low cost to consumers. For example, Dannon created yogurt treats that are just a mouthful and sells them for pennies. Those pennies have the potential to add up to substantial dollars due to the large number of poor consumers targeted. This large number of poor consumers is often referred to as the _____.
A) underserved market
B) bottom of the pyramid
C) secondary market
D) majority market
E) inverted pyramid market

Question

Quizplus · Accepted Answer

The term "bottom of the pyramid" (BOP) refers to the large population of low-income consumers in developing countries who are often considered an untapped market opportunity by some companies. This is the best choice for the blank based on the given information.

India's Population Is Over 1 Billion, but Many Live on Less