From the course: Global Strategy
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Emerging markets and frugal innovation
- Since 2000, emerging markets have been growing at nearly three times the pace of developed markets. They now account for over 35% of the world's GDP. Even assuming a slowdown, by 2025, emerging markets will likely make up more than half of the world's GDP. Of the many factors that make emerging markets different from developed ones, the biggest is difference in per capita incomes, and thus in buying power. Big China, the world's largest emerging market. By overall GDP, China is already the world's second largest economy. However, on a per capita basis, the income of the average Chinese is only 1/8 that of the average American. The trick to capturing the middle income market in China, India, and other emerging economies is to create products and services that are priced at a fraction of that in developed markets. This requires not just eliminating the bells and whistles from the products and services, but actually also…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.