Panel session: How market leaders innovate: ideas into action
How market leaders innovate: ideas into action
How do you sell the next big thing?
If you want to turn an idea into a profitable reality, it pays to tailor your innovation to the market — and you need to move beyond “developing” and “emerging.” It’s time to think local, everywhere.
It’s important to look at developing and emerging markets differently, said Sanjay Purohit of Infosys Limited. Each has different needs for innovation, whether you’re serving customers or clients. Infosys, a services provider based in India, innovates both for and from emerging markets.
Melissa Monich of Procter & Gamble agreed, but she cautioned against generalizations, noting that P&G finds more of its most wealthy consumers in Bangalore than in Chicago. And in every case, it’s vital to know the local market — to be relevant to your consumer or client, as Sanjay says.
Nike goes to street level to discern its customers’ wants, whether it’s on the suburban playgrounds of the US or the favelas of Brazil. The moral of the story? According to Nike’s Dan Cherian, “Be true to who you’re trying to serve.”
John W Murphy
Global Managing Partner – Markets
Ernst & Young
General Manager, SB&I Lab
Sustainable Business & Innovation
Vice President Research & Development
Gillette, Shave Care, Braun, Global Devices
Procter & Gamble
Member, Executive Council
Senior Vice President & Global Head Products, Platform and Solutions