Innovating for the Middle of the Pyramid in Emerging Countries

by Alvaro Cuervo-Cazurra (Editor), Miguel A. Montoya (Editor)

Overview

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 extremely attractive for firms, but still understood and underserved. This volume presents detailed analyses of exemplary firms that have innovated products, services, and business models to fulfil the needs and desires of these new middle classes. It provides useful insights for managers, consultants, researchers, and students interested in emerging economies, and actionable lessons on how to innovate for a new and expanding market segment.

Product Details

ISBN-13:	9781108570145
Publisher:	Cambridge University Press
Publication date:	03/04/2021
Sold by:	Barnes & Noble
Format:	eBook
File size:	4 MB

About the Author

Alvaro Cuervo-Cazurra is Professor of International Business and Strategy at Northeastern University, AIB Fellow, and co-editor of Global Strategy Journal. He studies the internationalization of firms, particularly emerging market multinationals; capability upgrading, mainly technological capabilities; and governance issues, especially corruption in international business. He received a Ph.D. from MIT and an honorary doctorate from Copenhagen Business School.
Miguel A. Montoya is Full Professor and was the Director of the Graduate School at Tecnológico de Monterrey, Mexico. He is country representative at AIB-LAC and a founding member of the Fudan Latin America University Consortium. He has published on international business and economics, particularly emerging market multinationals, trade and investment China-Latin America. He co-edited the book Mexican Multinationals published by Cambridge University Press. He received a Ph.D. from Universitat Autonoma de Barcelona, Spain.

Table of Contents

1. Innovating for the New Middle Classes in Emerging Countries Alvaro Cuervo-Cazurra; 2. New Middle Classes in Medium-Income Countries Miguel A. Montoya and Francisco J. Valderrey; 3. Innovation that Saves Lives Miguel A. Montoya and Francisco J. Valderrey; 4. Education for Everyone Otto Regalado-Pezua and Daniel Lemus; 5. 'My House, My Pride' – The Housing Problem in the Middle of the Pyramid Lucia Rodriguez-Aceves, Jose Manuel Saiz-Alvarez, Edgar Muiz-Avila, and Mario Adrian Flores-Castro; 6. Banking the Unbanked – Innovative Business Models Championing the Financial Inclusion of Latin America's MoP Eileen Daspro and Jasenko Ljubica; 7. Great Products for the MoP Consumption Practices Miguel A. Lopez and Jorge Alcaraz; 8. It Is Show Time! Otto Regalado-Pezua and Ana Belen Perdigones; 9. Money, Money, Money – Innovating Access to Credit Mauricio Cervantes and Jose Moreno; 10. Inclusive Hedging – The Microinsurance Catalyst Arturo Bernal, Xiomara Vazquez, and Isai Guizar; 11. From Mission Impossible to Mission Accomplished! – Innovative Business Models Strengthening Poor Distribution Channels Jasenko Ljubica and Eileen Daspro; 12. Innovating for the Middle of the Pyramid in Emerging Countries – Doing Well by Doing Good Alvaro Cuervo-Cazurra and Miguel A. Montoya.

Editorial Reviews

‘The cases featured in this book are detailed analyses of exemplary companies that introduced innovations to address some of the most difficult challenges in emerging markets, which were usually tried to be solved by government or nonprofits, resulting in successful business models. Without neglecting the sustainability and profitability that every company must have, managers must ensure that their companies always generate economic, social, and human value.’ Juan Carlos Domenzain, Executive president of Promotora Social México, Mexico

‘This is an excellent treatise on innovating for the middle-of-the-economic pyramid in emerging economies.’ Vijay Govindarajan, Coxe Distinguished Professor, Tuck School of Business, Dartmouth College; and New York Times and Wall Street Journal Best Selling Author of Three Box Solution

‘Emerging markets and firms will grow in importance in years to come. This book provides the best analysis of their formidable innovative capabilities in the context of evolving middle classes, human capital formation, and new business models.’ Mauro F. Guillén, Zandman Professor of International Management, The Wharton School, University of Pennsylvania

‘One of the biggest opportunities of this century is serving the burgeoning middle class in emerging economies. This important book takes a deep dive into the strategies and innovations that have worked in Latin America in healthcare, education, housing, finance, retail, and entertainment, among others. I strongly recommend it for managers, policymakers, and academics interested in the future of emerging markets.’ Ravi Ramamurti, University Distinguished Professor and Director, Center for Emerging Markets, Northeastern University

‘We need to know more about how to innovate for lower income consumers in emerging markets. This book presents new and important ideas, insights and examples that yield a richer understanding of what is possible and how to achieve success.’ Ted London, Clinical Associate Professor of Business Administration, Ross School of Business, University of Michigan

From the Publisher