Reverse Innovation, Frugal Innovation, and Jugaad

Increasingly, companies need look beyond their domestic borders for growth in emerging markets. Traditionally, compa­ nies have sought to take products devel­ oped for their home markets and adapt them for the newer markets, where cost and infrastructure may be bigger consid­ erations. More recently, innovators have sought to turn the equation on its head: to innovate specifically for the emerging market context and to adapt the innova­ tion for the home market—often reaping significant competitive advantages. Three related concepts fall under this rubric: reverse innovation, frugal innovation, and jugaad.