Segmentation
The BoP is a growing market with an increasing demand for customized consumer goods that fit the everyday lives of the customers. Indian consumers are becoming more and more conscious of the products they purchase in hopes of escaping the conditions at the BoP. These conditions encompass inadequate access to education, finances and information, which often leaves the consumers feeling vulnerable and economically deprived (Modi, 2015). This is where Lunapads is able to fill the gaps for the women who live at the BoP. Their products aim to reach the consumer and provide a social message of empowerment.
The consumers in India can be divided into five sub-categories based on yearly household income, as well as purchasing characteristics. These segments are the Globals, making more than 21 000$ per year, followed by the Strivers who make 10 000$ to 20 000$ per year, followed by the Seekers who make 4 000$, followed by the Aspiring making 2 000$ - 4 000$, and finally the Deprivers who make less than 2 000$ a year (Modi, 2015). The Aspiring and the Deprivers, or more commonly known as upper and lower BoP, are what make up the Indian BoP. Both living under similar conditions, but separated by their characteristics. Lunapads should target the Aspiring, as the price point that is set for each reusable pad fits the spending budget of this segment.
LUNALIFE
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Target Market