Open Innovation Model in Consumer care

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By: Gowthami -- Senior Research Analyst

31 March, 2014

Open Innovation Model in Consumer care
WHITEPAPER

As consumer care companies are competing to increase their market share in emerging markets, they are looking to develop new products to suit the target market. This cannot entirely be done by the company?s in-house team, as emerging market penetration needs local expertise. This can be achieved by adopting Open innovation model in Emerging Markets which involves partnership with regional technology centers, suppliers, local manufacturers etc. The adoption of this innovation model will be discussed with an emphasis on the innovation models followed by the three larger oral care/Health care companies in emerging market 1. Colgate 2. P&G 3. Unilever Problem Statement Consumer care companies are looking at emerging market penetration as a strategy for global expansion. There is a growing concern for oral hygiene in developing countries. - It is predicted that, Brazil will contribute to major share of the oral hygiene market in 2014, accounting for 53.6%. - Mexico is the second largest oral hygiene market, in which toothpaste category holds the lead - Oral care market of India is projected to increase at a CAGR of 14% in the following three to four years There is a heavy competition among the personal care companies for this emerging market expansion.