The transformation of emerging markets in recent decades has generated a new, growing, and very large middle class market, also known as the middle of the pyramid. This market segment, which is middle by the standards of emerging markets yet low by the standards of advanced economies, is...

"Innovation is at the core of the development of countries and the advantage of firms. Much attention has been paid to how companies in advanced economies innovate to serve the needs of highlight demanding and wealthy consumers who are willing to pay premium pricing for new products and...

This chapter analyzes the ways in which firms can use their interactions with customers to generate innovations and better foresight future trends in the marketplace. We discuss how the interaction with customers varies depending on the type of innovation the firm is aiming to achieve: Product...