Innovation In the Emerging Markets Essay Example | Topics and Well Written Essays - 500 words

Innovation In the Emerging Markets - Essay ExampleIn short, its just something fancy that fire suit the taste of some people. In the case of MAC 400, innovation even meant a lower price tag since it sells for a third of a price of a conventional ECG as reported in an article in the Economist last 2010. Indeed, continuous innovation would certainly present better medical products that are even handy and provide quick diagnosis of a medical condition. Doctors can go to remote places and attend to impoverished patients who need an MRI using MAC 400. Although big companies are creating more innovative products to suit customers needs based on merchandising research, a newer form of innovation has been shaped for the past few years. This innovation is a far cry from complex systems that sell for thousands of dollars rather, the new trend in innovation is geared towards addressing basic concerns of humanity such as potable drinking water. This type of innovation is known as reverse inno vation or frugal innovation. The World Health Organizations Millennium Development Goals for 2015 included providing potable drinking water to 884 million people who nonoperational depend on unsafe water sources for their drinking, cooking and sanitation.