What are the characteristics and features of BOP market and BOP consumer?
Characteristics of the BOP market
BOP market assumes that most consumers are poor and low purchasing power and are hence a representation of a market that is not viable.
BOP market is characterized by distribution access which is complex and restricts the participation of large firms
Characteristics of BOP consumers
Consumers within the BOP market do not have income sources are therefore extremely value-conscious to only necessity goods and give secondary goods priorities after primary ones.
Consumers that fall at BOP market who have been perceived brand unconscious are brand-conscious in real-life experiences.