  Low-mass galaxies in nearby clusters are the most numerous galaxy type in the
universe, yet their origin and properties remain largely unknown. To study
basic questions concerning these galaxies we present the results of a survey
designed to constrain the characteristics and properties of the stellar
populations in a magnitude complete sample of low-mass cluster galaxies (LMCGs)
in the center of the Perseus cluster. Using deep, high-quality WIYN UBR images,
we demonstrate that the 53 LMCGs in our sample have a significant scatter about
the color-magnitude relationship at M_B > -15. By comparing single-burst
stellar population models to our photometry, we argue that stellar populations
in LMCGs all have ages > 1 Gyrs, with redder LMCGs having stellar metallicities
[Fe/H] > -0.5. By assuming that the colors of LMCGs reflect metallicity, and
have co-evolved with the giant ellipticals, we find a wide range of values,
from solar to [Fe/H] ~ -3. We argue from this that LMCGs have multiple origins,
and fundamentally differ from Local Group dwarf spheroidals/ellipticals. The
inferred lower metallicities of the bluer LMCGs implies that these are possibly
primordial galaxies formed through self enrichment and stellar feedback
provided by winds from supernova. We also investigate several other formation
scenarios for these LMCGS, including: self enrichment induced by the
confinement of metals in halos by the intracluster medium, in situ formation
out of intracluster gas, systems with extreme dark halos, and as remnants of
higher mass systems. We conclude that roughly half of all low-mass cluster
galaxies have stellar populations and kinematic properties, discussed in
previous papers in this series, consistent with being the remnants of stripped
galaxies accreted into clusters a few Gyrs ago.
