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Report Developing Products

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Submitted By lorenabcal
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Developing winning products for emerging markets
” To master the extremes of a fast-changing competitive landscape; challenge your company’s assumptions about designing, developing, and manufacturing products for these regions”. (Gudlavalleti, Gupta, and Narayanan, 2013)
It is clear that there are some differences between emerging markets and developed markets in aspects such as culture, customer requirements, labor practices, and regulatory regimes. Due to that, companies need to implement business strategies that focus on effectively developing products considering those differences to reach competitiveness into emerging markets.
The article set an example of disappointing results in which an automaker launched a commercial truck in India: a highly competitive market. They said that the vehicle was engineered to allow owners to run the trucks longer and faster, and at a reasonably low operating cost but the truck was a disappointment. (Gudlavalleti, Gupta, and Narayanan, 2013) The reason why that happened was because of the company did not adequately account for the country conditions; poor roads and infrastructure, which often avoid vehicles from keeping the most efficient operating speeds. Even though the truck’s price was competitive against local offerings, in the buyers’ eyes the potentially higher utilization was not worth the expense.
To avoid those sort of failures in the process of developing products in emerging markets, companies must be challenged themselves to design, develop, and manufacture products for environments where customers are particularly price conscious and demanding. To overcome this condition an increasing number of businesses have found that they must revise their traditional approaches to product development and modify them to these realities, adopting a new attitude about what customers want and how to deliver it.

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