Emerging markets ripe for product innovation

Here’s an approach to innovation that’s becoming popular — first design and develop products for emerging markets where necessity demands lower barriers to access and adoption. In the article Innovation Trickles in a New Direction, BusinessWeek takes a look at how large corporations like GE are selecting products traditionally created in rich nations but choosing to develop and test them in emerging markets first before mass marketing them in established markets. This is an R&D strategy (and a potentially cost effective one) that many companies may start paying more attention to in virtually every sector, especially in tough economic times.

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