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New Product Development in ‘Emerging Markets’—The Growing Scope of Reverse Innovation in the Post-pandemic World

In: Pandemic, New Normal and Implications on Business

Author

Listed:
  • Himanshu Ahuja

    (Delhi Technological University)

  • Deep Shree

    (Delhi Technological University)

Abstract

Reverse innovation has emerged as a novel strategic move for businesses aiming to develop innovative solutions in emerging economies and thereafter take it uphill to the advanced markets, helping them in increasing the profit potential and capturing the sustainable growth opportunities. It has been observed that most Asian and African emerging markets were able to successfully fight against COVID-19 pandemic due to their prior experience in tackling epidemics, such as Ebola, tuberculosis, cholera, MERS. These emerging markets have given a plethora of new ideas, including but not limited to quarantining, e-fencing, drive-through testing, AI-based temperature scanning, etc. to fight against the pandemic. Such ideas have been accepted not just by the emerging economies but also by the developed world later on. In this research study, a robust conceptual framework of reverse innovation has been designed with a clear focus on the factors that lead to the success of reverse innovation. This study provides directions and scope for future research that can be conducted on this topic, apart from discussing economic, social, managerial, and negative externality-based implications of a successful case of reverse innovation.

Suggested Citation

  • Himanshu Ahuja & Deep Shree, 2022. "New Product Development in ‘Emerging Markets’—The Growing Scope of Reverse Innovation in the Post-pandemic World," Springer Proceedings in Business and Economics, in: Arti Chandani & Rajiv Divekar & J. K. Nayak & Komal Chopra (ed.), Pandemic, New Normal and Implications on Business, pages 165-181, Springer.
    • Handle: RePEc:spr:prbchp:978-981-19-4892-3_11
    DOI: 10.1007/978-981-19-4892-3_11
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