What demographic does the term "Bottom of the Pyramid" refer to?

The term "Bottom of the Pyramid" specifically refers to individuals living in poverty, typically those in the lowest socioeconomic tiers of society. This demographic is characterized by their limited access to basic services such as healthcare, education, and financial resources. The concept highlights the potential market opportunities that exist within this group, recognizing that they represent a significant population worldwide.

In discussions about economic development and business strategy, focusing on the Bottom of the Pyramid encourages organizations to create affordable products and services that cater to the needs of these consumers, ultimately helping to improve their quality of life. This approach also emphasizes social responsibility, as engaging with this demographic can contribute to sustainable development and poverty alleviation.

The other options describe groups that are not aligned with this term. Affluent business leaders represent a completely different economic class, while individuals in urban areas can belong to various socioeconomic statuses, not just the poorest. Consumers in developed countries generally belong to a higher economic tier, further distinguishing them from the Bottom of the Pyramid demographic.