Case22 Assignment Example | Topics and Well Written Essays - 500 words

Case22 - Assignment Example This division should be based on incomes (Bister M et al, 1990). After the division, one needs to consider the roles of the various groups in creating a good relationship. This relationship should be aimed at creating value between consumers, producers and clients. As a result, marketing concepts of price, promotion, place, product and target market research has to be done by the company. These concepts; are meant to meet the goals of the company and at the same time focusing on customer satisfaction. Consumers will always prefer products of good quality and performance and those with innovative features. The products should be of affordable prices and easily available. It is the role of managers to ensure that promotion is also done, and products designed to meet the needs of the customers. There are four pillars that must be taken into account while doing this, these include; target market, customer needs, integrated marketing and profitability. Serving the bottom of the pyramid will need innovations in technology, products or services and even the business models. Local governments and civil society organizations have to work hand in hand with corporations to ensure that the needs of these low level groups are met. Satisfying these low income group and at the same time meeting company requirements at times may be hard for the company. It calls for lowering the cost of production. This is hard for many companies since they have to produce high quality products at the same time. High quality products mean that the companies have to get raw materials at low prices, which is hard. At times, managers fall in love with their products that they do not realize what these low income groups need. They feel that their products are so superior that they fail to market them. Consumers, on the other hand, need these products and at affordable prices at their convenience. Extensive reach and coverage of