MARKET STRUCTURES IN DEVELOPING COUNTRIES

Most product markets comprise four distinct tiers: A global customer segment that wants products of global quality and with global features – that is, offerings with the same quality and attributes that goods in developed countries have – and is willing to pay global prices for them; a “glocal” segment that demands products of global quality but with local features (and local soul) at less-than-global prices; a local segment that wants local products with local features at local prices; and a bottom-of-the-pyramid segment, as Michigan University’s C.K. Prahalad calls it, that can afford to buy only the most inexpensive products.

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Source:- IIPM Editorial

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