Despite the growing complexity of doing business in China, it is where innovation needs to happen with products designed solely for Chinese consumers.
Our View:
Product development in emerging economies can cross over to serve your
core consumers. Global companies have embraced reverse innovation and
set up local growth teams in India and China that innovate for local
markets. These teams are often allowed to steer product development and
utilize a local budget, and their efforts can dispel the threat of local
competitors. These products increasingly do well in developed markets,
where price-consciousness and demand for basic products are on the rise.
To read the full, original article click on this link: The Case for Reverse Innovation in China | CEB Views - Finance and Strategy
Author:CEB Views
