According to C. K. Prahalad and His Associates Introduced a New Concept

True/False

According to
C. K. Prahalad and his associates introduced a new concept into the discussion of developing countries and markets-bottom-of-the-pyramid markets (BOPMs)-consisting of the 4 billion people across the globe with annual incomes of less than $1,200.
C. K. Prahalad, the global market consisting of the 4 billion people across the globe with annual incomes of less than $1,200 is termed subsistence market.