Bottom of the Pyramid

A term developed by Stuart Hart and C. K. Prahalad at the Center for Sustainable Enterprise and now popularized by Prahalad’s book, The Fortune at the Bottom of the Pyramid. It refers to the poorest people in the world. These people tend to pay more for the same food, products, and borrowing than rich people and are usually underserved by markets and services. Contrary to most expectations, because of their numbers, they still represent a huge market if affordable products and services can be offered to them.