Much of how you have been trained in you management and economic education has centered around the American market place. That means one is selling products to a market that has relatively high income by world standards. Another way of saying this is that the majority of Americans simply are not poor.
However, assume your firm has decided to concentrate on the markets in say India, China, Brazil etc in which something along the lines of 80% of the population have very low incomes.
So here is your question:
How would you have to modify them (or not) to be successful in these low income high volume markets. Think about issues of market structure, pricing, costs etc. If we mean low cost, then the issue of min average costs and scale are key issues. Yet in most the developing world respect for patents and copyrights are question. Thus you may indeed produce a low cost product, but what must you do to keep your share and margins.
Further, it seems to me you would like to extent of the market to get bigger. You would want to see higher incomes from you strategies also.
What are your thoughts? No more than two pages.