Brazil poor families have an annual gross income of around $ 73 billion a year, China has an annual revenue of about $ 691 billion, and India have an income of about $ 378 billion. However, while there has been a surge of interest in recent years, as economic growth takes place in developing countries, most of the research is still focused on how the growth in developed markets. Strategic Innovation in emerging markets, is fundamentally different from that in developed countries, according to the authors. This is not about finding the "new whose" (assuming that products and services are affordable, there are plenty of under-and nonconsuming customers to use), more often it involves the adaptation of existing products for customers with fewer resources, or different cultures and create major market ingredients, such as distribution channels and consumer demand from scratch. Using examples from the mobile phone in the Philippines, consumer products, power equipment and automotive industries, in India, the market for personal care in Brazil, and the appliance industry in China, the authors discuss the case of companies, including Smart Communications, Hindustan Unilever, Tata Motors, Eveready, and Haier. They provide a basis for strategic innovation based on four factors (accessibility, affordability, accessibility and awareness), and to show how companies can create value. "Hide
by Jamie Anderson, Constantinos C. Markides Source: MIT Sloan Management Review 8 pages. Publication Date: 01 Oct 2007. Prod. #: SMR267-PDF-ENG
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