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Significant growth opportunities lie in second- and third-tier cities and rural areas. But although consumers there are some disposable income, they have limited resources. That’s forcing multinationals to rethink how they design products and services to reach them.
The article offers four recommendations for an effective “network orchestration” strategy, bringing together local and global innovation partners in emerging markets. Multinationals should extend innovation partnerships beyond the usual channel partners by engaging key community stakeholders such as government bodies, universities and NGOs; engage innovation partners strategically with a larger purpose; trust but verify in a transparent manner; and designate local partner network managers.
In an increasingly environmentally conscious and cost-conscious world, suppliers can make their business both more sustainable and more profitable by focusing on services that extend the efficiency and value of their products.
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