Many companies look to the developing world for breakthrough new products that meet global consumer needs at low cost.

Question

Quizplus · Accepted Answer

Many companies do indeed look to developing countries for new products that can address global needs and be produced at a lower cost. This is known as "frugal innovation," and involves creating products that are simple, affordable, and effective, often using locally available materials and resources. These products can then be scaled up to serve a global market, providing both a social and economic benefit to the communities where they are produced.

Many Companies Look to the Developing World for Breakthrough New