Consider the following: Over many years innovation has (and still is) mainly concerned with improvements that embrace new technology and typically add value for customers that can afford to pay for increasingly sophisticated products and services. In the course we introduced the need to apply reverse innovation for developing appropriate products and services for customers who live at the bottom of the pyramid. The term reverse innovation is about innovating and developing products suitable for emerging markets and then exporting those products to developed economies. For example, Procter and Gamble who own Gillette shavers are the dominant razor blade company globally. It's initial entry into the Indian market was a huge failure. It tried again and this time but researched the market with a team of 20 engineers and developers for 3 weeks in India. They developed the Gillette Guard at the right price point and right product features for male Indian consumers at the bottom of the pyramid. Some customers in developed countries see the value in reverse innovation. Deere from the US started selling small, lower powered tractors in India and now export to developed markets. Lastly, GE developed a new handheld electro cardiogram in India for around $1,000 and now exports the unit back to developed economies.

In your response, how can firms such as GE, Gillette and Deere manage their product portfolios to include 'reverse innovation projects' and address the needs of consumers at the bottom of the pyramid but also include top of the range models for more demanding customers in International markets?