Successful market innovation in the 21st century requires more than just a new product, offering, or business model
The emerging economies of China, India, Latin America, and Africa contain some of the fastest moving markets in the world. To survive in these dynamic markets, successful companies have modified their innovation cycles to provide meaningful products more rapidly than ever before. Take the phenomenal growth of Sina Weibo, a Chinese social media company launched in 2009. Originally a Twitter ‘copycat’, today Weibo is a hybrid media company with 300 million users sending an average 86 million messages a day.
3. Pulse of the market
[This article has been reprinted, with permission, from Rotman Management, the magazine of the University of Toronto's Rotman School of Management]