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Past Issue • Jan-Mar 2016

The Last Mile Conundrum: Pitfalls of Product Innovation Sans Market Strategies

The Last Mile Conundrum: Pitfalls of Product Innovation Sans Market Strategies

This paper strings together learnings from a series of case studies on innovations in emerging markets and provides insights into how firms need to pay attention to aspects like distribution networks, marketing innovations and local issues like patent regimes, if their product innovations are to be successful in tough competitive environment.

Innovation undoubtedly plays an increasingly important role in the economic activities of firms, industries and thus nations. An ever changing market and newer technologies create a shift towards innovation laden with positive value in a given market. Emerging markets have a preponderance of people at the bottom of the pyramid who live in rural markets. Innovations to cater to these customers are multifaceted. It requires innovations in technology, distribution and even in approaches to protection of Intellectual Property (IP). Contrary to the oft mistaken opinion that there is little, if insignificant, innovation happening in emerging markets, remarkable and disruptive innovations are actually happening in developing nations. However, it is the effort to bring these innovations to fruition that is the source of strife.

ABOUT THE AUTHORS

  • MridulaAnand

    Mridula Anand

    Independent innovation and IP consultant. She holds a graduate degree from Stanford University and has also completed her Law degree.
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