Business Model Innovation of Enterprises Based on the Bottom of Pyramid (BoP) Market Strategy

Abstract

This article is based on the Bottom of Pyramid Strategy (BoP for short) theory, discussing several models of how Chinese enterprises carry out business model innovation based on BoP. After a detailed review of features related to consumption, cognition, ability, and environment in BoP groups and BoP markets, this article found that a BoP market can deliver two kinds of business model innovation, and enterprises should choose best-fit business models to develop market potential according to their own business features and the specific features of the BoP market they are dealing with.