Index – Decoding Customer Value at the Bottom of the Pyramid

Index

Alphabets ‘f’ and ‘t’ in italics after page numbers indicate figure and table, respectively.

base of pyramid. See bottom of pyramid

bottom of pyramid (BOP), 7, 23, 112, 120, 141, 142, 143, 144. See also customer engagement

approach benefits, 28–29

and customer perceived value, 24–25

definition, 37

differing perspectives to,
29–30

educational issues, 24

family dimension, 77

first-generation, 27–28

importance of in business, 23

income issues in, 23–24

infrastructure issues, 24

market characteristics, 30–31

marketing strategies for, 31–32

open codes for consumer behaviour, 63f

premises of Indian consumer, 65–68

second-generation, 29

subjective vs. economic well being, 71, 144

and zone of tolerance model, 69f

business. See also marketing; value chain

as growth engines, 6–7

benefit to society, 5

and concept of value, 7–8, 111

core processes in, 16

marketing concepts, 9–14

objective of, 5, 7

profit measurement, 8

and profit, 5

and shareholder value, 7

system in India, 6

capital returns

as a measure of profitability, 8

net profit, 8

sources of, 8

capital, 8, 31

capitalism, 6, 7

conditional value, 93, 107

consumption value, 90

consumption choice behaviour

conditional value, 93, 107

emotional value, 92

epistemic value, 92–93, 107

functional value, 91

social value, 91–92

theory propositions, 90

value dimensions, 96t–102t

core competency, 19, 20

customer engagement (CE). See also customer perceived value

as multidimensional engagement, 123, 131

components in, 122

and customer loyalty, 123

and customer perceived value, 131–132

definition, 120, 123, 124

framework for bottom of pyramid, 137–139, 138f, 143, 144

framework, 130f, 135f

and marketing, 142

need for, 119

and service dominant logic, 124

service experience categories, 130

usefulness of, 120

customer perceived value (CPV), 1, 22–23, 80, 93f, 107, 111, 121, 131, 139, 143

consumption choice behaviour, 91–93, 105

consumption value, 90

contextual nature of, 133

and customer engagement framework, 121

and customer engagement, 131–132

definition, 22, 89–90

drivers of, 135–136, 143–144

andmarketing mix, 73

measurement of, 104–105

PERVAL scale, 105–108

SERV PERVAL scale, 108–111

andorganized sector, 142

segment differences in, 133–134

subjectivevs. economic well being, 71

and unorganized sector, 141

and urban India bottom of pyramid customer, 24–25, 37, 63f, 65–68, 69f, 71

utilitarian and hedonic model, 94

value dimensions, 96t–102t, 105, 107, 114, 133

value hierarchy model for,
93f, 94

zone of tolerance model, 69f

decision-making, family, 80–82, 83, 105, 107, 132

concept of family, 83–84

consumption choice behaviour, 91–93

role of children in, 86–87

role of gender in, 85

westernvs. bottom of pyramid markets, 83

emerging markets, 31, 120,
130, 132

characteristics of, 120

as per economic levels perspective, 27

as per financial growth perspective, 25–27

and social entrepreneurship, 36

enterprise, 4, 5, 19

as a factor of production, 5, 6

epistemic value, 92–93, 107

4As framework, the, 107, 113

buyer role and value, 76, 83

customer roles, 74, 77f

definition, 77–78

measurement of, 79

payer role and market values, 75–76

role of family in, 80–82, 105

seeker role, 76

user role and values, 75

grounded theory 60, 130, 144

India, 6, 7, 18, 23, 25, 31, 64, 68, 84, 85, 86, 107, 120, 132, 141, 143

integrated marketing, 13

internal vs. external marketing, 13

levels in, 13

market value coverage (MVC), 79

marketing concept

goals, 11

need for, 12

pillars in

customer needs, 11

profitability, 11–12

target market, 11

marketing management, 9

marketing mix, 73

and the 4As framework, 74

marketing, 8–9, 14, 17, 23, 24, 77, 107, 131, 136, 142. See also customer engagement

approaches to, 9, 111

concepts under

integrated marketing concept, 13

marketing concept, 10–13

product concept, 10

production concept, 9–10

selling concept, 10, 11, 14

societal marketing concept, 13–14

andcore competence, 19–20

definition, 8

inclusive nature of, 17

management, 9

market failure reasons, 137

andmarket failure, 137

operand vs. operant resources, 17–18, 21, 123–124

problems in, 9, 136–137

service marketing thought, 27, 28, 29

service-centered view of, 19, 20

Maslow, Abraham, 1

Maslow’s hierarchy of needs, 1, 2f

categories in, 3

deficiency needs, 2

growth or being needs, 2

order in, 4

priorities in, 3

open codes, 63

operand resource, 17, 124

operant resource, 18, 123

PERVAL scale, 105

and consumer choice, 205

factors in, 106–107

limitation in, 107

perceived value vs. satisfaction, 105–106, 108

vs. SERV PERVAL scale, 108

and value dimensions, 105

production factors, 5–6, 18

risk capital, 7

SD logic. See service-related
dominant logic

selective codes, 64

SERV PERVAL scale, 108

concept of, 108

framework of, 169f

limitations, 111

vs. PERVAL scale, 108

and service quality, 108

values in, 110

service quality, 108

service-centered dominant (SD) logic, 17, 19, 20, 122, 124

attributes and premises of, 21, 22

vs. goods-centered dominant logic, 21t, 73

shareholder, 7

profitability and profit growth, 8, 11

and risk capital, 7

value, 7,8

social entrepreneurs, 34

building blocks for, 35–36

vs. commercial entrepreneur, 35

and social value creation, 34–35, 91–92

social value, 91–92

socialism, 6, 7

societal marketing

objectives, 13

social and ethical issues in, 13–14

society, 1, 6

and benefits from business, 5

needs of, 1

stakeholders, 4

classification, 4

needs, 4

theoretical codes, 65

value chain, 15

core business processes in, 16

primary activities in, 15–16

support activities in, 16

value, 1, 6, 9, 14, 15, 17–18, 20, 22, 23, 34, 35, 73, 74, 91f, 105, 108, 111, 121, 131.
See also customer perceived value; marketing; value
chain

availability, 76

chain, 15

convenience, 76

delivery frameworks for, 73

delivery process, 14–15

economic, 75–76

and operand resources, 17, 124

and operant resources, 18, 123

performance, 75

psychological, 75, 114

social, 75

World Economic Pyramid (WEP), 7, 28, 31

Zimbabwe, 84

purchase behaviour, 85