Reverse Innovation

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Last week, we examined how learning leads to innovation. The video above demonstrates a practice that businesses can employ to bring a new edge to old ideas: reverse innovation.

In the video, it is explained that this type of innovation is done by appealing to customers in emerging markets by watering down products offered in established markets. Real-life examples are explained to clarify exactly what reverse innovation is. The example of an ultrasound machine offered in an emerging market and an established market speaks volumes: the product is desired by both markets for different purposes.

Employing this strategy provides room for new ideas and a jumping off point off of previous success stories. Watch the video to learn more!