The Next Boom: Innovation for Emerging Markets Photo

The Next Boom: Innovation for Emerging Markets

May 11, 2010, 4:00 - 5:00 p.m.
Ford Motor Company Engineering Design Center
ITW (1.350)
2133 Sheridan Rd., Evanston, IL 60208

This event is hosted by Greg Holderfield, Distinguished Fellow of Segal and co-Director of the Master of Product Design and Development program.

Abstract

According to the World Bank, 93% of the global middle class will live in Emerging Markets by 2030. With developed economies moving slowly out of recession, businesses are targeting new consumers in emerging markets more than ever to capture their share of the next wave of growth.

While much is understood about the economics of developing markets, less is understood about people and culture: information critical to successful innovation. What is valued? What is needed? How do people become aware of new products, services or brands? How do they make decisions? How do they shop? What do their homes look like? These are just a few of the many questions facing innovators and business leaders as they think about how to serve these markets.

Conventional wisdom has dictated that consumers in developing economies want what consumers in developed markets want, just cheaper. But that is a narrow view and could substantially limit your chances for success. By understanding the 5 key areas of difference (physical, emotional, cultural, environmental and financial), innovators and business leaders can help shape and create successful products, services, business models, and brands for global companies looking to create product lines with regional sensitivities or regional businesses looking to win against global giants. This presentation is about helping inform the innovation process with insight into this new growth trend.

Bio

Anthony Pannozzo is a Principal Design Strategist and leads the Emerging Markets Practice at Continuum, a global design and innovation consultancy in Milan, Boston, Los Angeles, Seoul and Shanghai.

Anthony has spent nearly 20 years helping companies all over the world understand the value of design thinking and design innovation as a means to leverage core assets and identify opportunities for growth. He has lectured and published extensively on the challenges of leading with technology, the value of design and creating a culture of collaboration and creativity.

Anthony earned a BFA in Industrial Design from the Rhode Island School of Design. While at RISD, he also studied economics at Brown University. Anthony is a member of the Industrial Designers Society of America where he served on the Board of Directors from 2004-06.

Contact Andrea Farley at 847-467-1604 or andreafarley@northwestern.edu for further questions.