This chapter adopts the midrange theories schema to expand Pels and Sheth (2017) matrix on business models to serve the low-income consumers (LIC): market adaptation, mission focus, radical innovation, and inclusive ecosystems. To this end, it identifies the underlying general business theories...

In my forty years of academic research, I have seen the scope of consumer behavior expanded in many directions, both theoretical and practical. One direction has been a dramatic growth beyond behavioral responses to marketing efforts and simple decision making to include the understanding of how...