The backward invention is re-launching earlier product versions that can be well-adapted to a foreign country’s requirements.
In international marketing, the backward invention refers to a product strategy where an existent product may need to be dumbed down or re-engineered by the organization to be launched in developing or less developed countries, sometimes at a cheaper price. It often gives new life to an outdated product by the organization or even targets individuals too poor to buy the existing product.
An example of it can be that the National Cash Register Company re-launched a dumbed down model of its crank-operated cash register for African and South American markets at a lower cost.
Backward invention indicates an international marketing’s product strategy where an organization manufactures a less complex form of its domestic product for less developed and developing countries.
It provides an organization with the following benefits:
- Rise in revenue because of increased sales.
- Brand popularity, brand awareness, and wider reach in new markets.
- Gives new life to an outdated product by the organization.
- Targets the segment with lower socio-economic status.
More from this Section
- Value Chain
The series of internal departments that carry out value-creating activities to design ...
- Online exchange
- Break-even analysis
Break-even Analysis is the pricing-related technique used to determine the minimum sales ...
- Return on marketing investment
Return on marketing investment is the net return from a marketing investment divided by ...
- Individual marketing
Individual marketing refers to tailoring products and marketing programs to the needs ...