Bargain-Hungry Marketplaces

By Reena Jana

Procter & Gamble (PG) and other multinationals are taking low-cost products initially developed for emerging markets and adapting them for bargain-hungry audiences in North America, Europe, Japan, and Australia. In the past, corporations stripped away features to offer them at low prices to people in developing countries, often adding details based on local research on user habits and needs. Now the opposite process, called "trickle-up innovation," is happening. Here's a look at trickle-up in action.