In _____ companies initially develop products for niche or underdeveloped markets, and then expand them into their original or home markets.

Question

Quizplus · Accepted Answer

Reverse innovation refers to the process where companies develop products for niche or underdeveloped markets and then expand them into their original or home markets. Glocalization refers to the process of creating a product or service that is able to meet the needs of local people in different parts of the world. Homogenization refers to the process of making products or services more similar across different markets. Localization refers to the process of adapting a product or service to meet the specific needs of a particular market. Inverse creation is not a commonly used term in business or marketing.

In _____ Companies Initially Develop Products for Niche or Underdeveloped