Renault just recently launched its new made-in-India car. Carlos Ghosn, chief executive of Renault-Nissan, applied some frugal innovation principles in order to make the car affordable to local people. Navi Radjou, Fellow in India & Global Business at Cambridge Judge, says Western companies tend to sell their existing products with only a slight tweak, but that doesn’t really work in developing world. “Few companies get this right, which is what makes what Renault has done exciting,” said Navi.
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