C K Prahalad and Associates Introduced the Concept of a Global

Multiple Choice

C. K. Prahalad and associates introduced the concept of a global market, not necessarily defined by national borders but rather by the pockets of poverty across countries, and consisting of 4 billion people across the globe with annual incomes of less than $1,200. They refer to these consumers, concentrated in the LDCs and LLDCs, as _____ markets.

A) subsistence
B) third-world
C) underdeveloped
D) bottom-of-the-pyramid
E) peripheral