There are significant opportunities to learn from but also develop the literature on multinational corporations (MNCs) when analysing bottom of the pyramid (BOP) markets. This short review explores three potential opportunities relating to market making dynamics, knowledge mobilities and embedded power geometries. Each is explored in turn and helps reveal the complex questions that exist about the situated nature of both BOP markets and the activities of MNCs in these markets. The underlying theme that emerges from the review is that multinationals have the potential to shape in both positive and negative ways in terms of ‘trade not aid’ the development of BOP markets.