INFLUENCE OF NEEDS AND LIFESTYLES ON THE BOP CONSUMER: AN PERSPECTIVE IN ECUADOR

Abstract

A study is presented in families of a rural population of the Republic of Ecuador, which is classified by its social, cultural, and economic characteristics in the BOP market. The findings indicated that there is a strong preference for national and traditional products, although there is a preference for regional and global products, showing differences in lifestyle and a combination of consumer needs. It was found that these consumers can be loyal to brands that represent a different social status. Therefore, companies should design more effective marketing strategies for this market, whose growth is attractive for the development and increase of their sales volume.