Iift 2016 Question 49
This is a detailed step-by-step solution for Iift 2016 Question 49. Understand the concept, common mistakes, and expert tips to solve similar questions in IIFT exam.
IIFT
From the passage we can see that the author emphasises that MNCs should modify the products according to local need and price the product differently from the global market. This entire process of customizing the product according to local demand is known as part of 'Reverse innovation'. Hence we can say that option D is the correct answer. Author further uses PepsiCo's example how the MNC has been successful in emerging markets such as India by introducing a customized product "Kurkure" that caters to local market needs and fits into market pricing perfectly. This all has been possible due to successful reverse innovation