A vertical portfolio approach to BOP-led growth in emerging markets

Purpose Bottom/Base-of-the Pyramid (BOP) literature historically focused on market entry strategies designed to target the world’s largest untapped consumer market. Now, after many international businesses have penetrated the BOP, this article progresses from questions of market entry to theories of global market growth from the BOP. Design/methodology/approach The study follows an inductive approach to theory. Insight from in-depth interviews with executives from category-leading companies with international operations spanning a total of 79 brands was used to develop a conceptual framework for strategies that leverage the BOP for growth. Findings Market-leading BOP brands are not the outcome of BOP brand-centered strategies. Instead, findings suggest that market growth is the result of a vertical portfolio approach that includes BOP and non-BOP consumers. Originality/value The study proposes a 4D’s model for a whole-market approach to the BOP and aligns the framework with the evidence-based theory of market-based assets.