Emerging markets: Innovation out of necessity
Veronica Paz Soldan, Julian Smith and Atika Malik JWT Mexico and JWT India
Emerging markets are adapting Western brands and ideas and exporting the results back to the recession-hit developed world through 'trickle-up innovation'.
One of the most important factors in the surging economic fortunes of the emerging world has been the ability of brands to innovate and adapt to local market conditions. New products, new formulations of products, and new ways of bringing them to market, which reflect local consumer needs and behaviours, have been at the forefront of consumer-led economic growth....