Kamp, B
Boletín de Estudios Económicos, LXVII (207): 481-504
English // Keywords: Reverse innovation, emerging economies, internationalization, international product life cycle, lead markets.
Description
The interest of firms in emerging economies has until date been largely an issue of exploiting low production cost possibilities and growing sales potentials. More and more, however, their interest can also be explained from an innovation and product development perspective. I.e., from a reverse innovation point-of-view where new products from emerging economies can be trickled up to satisfy the needs of more demanding customers, be they from emerging countries as well or from developed countries. Whereas reverse innovation has largely been identified with frugal innovation, in this paper it is argued that emerging markets will increasingly bring about more advanced and high end products. Both due to the R&D and innovation assets and resources put in place in situ and a growing sophistication and purchasing power of the (middle class) consumer groups in these markets.
