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Innovation in Emerging MarketsReleasing Trapped Value: The Coming Challenge of Innovation in the Context of Emerging Markets

Innovation in Emerging Markets: Releasing Trapped Value: The Coming Challenge of Innovation in... [It is commonly accepted that to succeed in emerging markets requires extraordinary focus on the growing ranks of new consumers and their idiosyncratic needs. Innovators with an eye towards serving this growing market will naturally place a strong emphasis on tailoring products, processes, and business models and will be guided by the three mantras of affordability, accessibility, and appropriateness — to make products cheaper, easier to distribute, and suitable for the local environments. In a sense, we can describe such initiatives as innovation for the core, i.e. for the attractive market segments being created because of the new consuming class. In this chapter, we argue that there is an urgent need to focus, in parallel, on innovating in a different direction. Specifically, we argue that it is essential to innovate, not just to serve the core, but to fill gaps in the broader context that surrounds the core opportunity as well.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Innovation in Emerging MarketsReleasing Trapped Value: The Coming Challenge of Innovation in the Context of Emerging Markets

Part of the International Political Economy Series Book Series
Editors: Haar, Jerry; Ernst, Ricardo
Chakravorti, Bhaskar; Macmillan, Graham; Siesfeld, Tony
Innovation in Emerging Markets — Jun 25, 2016
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18 pages

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Publisher
Palgrave Macmillan UK
Copyright
© The Editor(s) (if applicable) and The Author(s) 2016
ISBN
978-1-349-69390-0
Pages
32 –50
DOI
10.1057/9781137480293_2
Publisher site
See Chapter on Publisher Site

Abstract

[It is commonly accepted that to succeed in emerging markets requires extraordinary focus on the growing ranks of new consumers and their idiosyncratic needs. Innovators with an eye towards serving this growing market will naturally place a strong emphasis on tailoring products, processes, and business models and will be guided by the three mantras of affordability, accessibility, and appropriateness — to make products cheaper, easier to distribute, and suitable for the local environments. In a sense, we can describe such initiatives as innovation for the core, i.e. for the attractive market segments being created because of the new consuming class. In this chapter, we argue that there is an urgent need to focus, in parallel, on innovating in a different direction. Specifically, we argue that it is essential to innovate, not just to serve the core, but to fill gaps in the broader context that surrounds the core opportunity as well.]

Published: Jun 25, 2016

Keywords: Business Case; Political Risk; Corruption Perception Index; United Nations Global Compact; Cocoa Farmer

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