The goal of this paper is geared towards extending the existing knowledge on BOP and providing a new lens from a constituent perspective as opposed to the umbrella view for considering the BOP topic. The paper particularly strives to demonstrate the implications of conducting innovation studies and innovation practice with the present BOP view. At the same time the paper provides a classification of the BOP concept into fine grained categories which can then be used to assess the different layers within regions, locations or environments under consideration. Essentially, the paper explores the different ways the bottom of the pyramid can be conceptualized and the associated implications for innovation management.