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Hundreds of millions of people in China, India, Indonesia, and Brazil are eager to enter the marketplace. Yet multinational companies typically pitch their products to emerging markets' tiny segment of affluent buyers, and thus miss out on much larger markets further down the socioeconomic pyramid—which local rivals snap up. By applying the authors' recommendations, you can position yourself to compete innovatively in developing countries—and to unlock major new sources of revenue for your business. Since 1922, Harvard Business Review has been a leading source of breakthrough ideas in management practice. The Harvard Business Review Classics series now offers you the opportunity to make these seminal pieces a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world.
C.K. Prahalad was the Paul and Ruth McCracken Distinguished University Professor of Strategy at the University of Michigan’s Ross School of Business.
Kenneth Lieberthal is the William Davidson Professor of Corporate Strategy and International Business, the China director of the Davidson Institute, and the Arthur Thurnau Professor of Political Science at the University of Michigan in Ann Arbor. He is also a senior director of Stonebridge International, a Washington, D.C.–based consulting firm, and the coauthor, with Geoffrey Lieberthal, of The Great Transition (HBR October 2003).