How they do it: GE develops many products especially for the needs of emerging markets. One example is an ultrasound device which had to be portable to be suited for use in rural india. GE then developed an ultra low cost, portable, battery-operated ultrasound device for rural India and China. This invention has now also found wide approval in developed economies where the increased portability allows the machine to be used e.g. in accident first response.
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How they do it: Krating Daeng is a sweetened, non-carbonated energy drink, developed in Thailand in the 1970s. It was introduced in Thailand as a refreshment for rural Thai labourers. Krating Daeng was discovered by Austrian entrepreneur Dietrich Mateschitz while working in Thailand. He subsequently introduced Red Bull in the Western market with a different formula and branding concept.
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How they do it: The product "Knorr Stock Pot" is an example of a reverse innovation approach by Hindustan Unilever. The first country to launch in 2007 was China under the brand "Dense Soup Treasure", where there was no bouillon cube market, and soup-consumption is very high. Chinese home-cooks love the convenient way to create the dense soups their mothers and grandmothers made. In 2010, the product was introduced in the UK, Ireland, France, Spain, Belgium, Greece and many other European countries.
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How they do it: Since 2004, Renault and its subsidiary Dacia produce a model called ”Logan”, a small family vehicle targeted at the bottom of the pyramid. It is among the most affordable vehicles available on the market today. Initially, it was sold in markets such as Latin America or Eastern Europe. With considerable success in these markets, it has since been introduced in developed markets too.
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