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Profit and the poor (Conventional wisdom (The few phenomenally rich at the…
Profit and the poor
Conventional wisdom
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Sitting at the bottom, a colossal plinth of poor folks who had nothing but their dreams (In Brazil : Belindia)
==> Poor were seen as victims, not as consumers
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Need of innovation
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Refrigerator that keeps ice frozen for up to six hours after a power failure--an attractive feature in the blackout-prone latitudes
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All over the world, the low- income market is the market.
Before, "poor consumers" = oxymoron
Makers of everything from bicycles to bouillon cubes are scrambling to serve the most modest of patrons.
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