Govindarajan argues that the consumer markets of emerging economies like China and India are fundamentally different from those of developed countries.
Mr Govindarajan, of the Tuck Business School at Dartmouth College, has advised General Electric on frugal innovation and co-written a path-breaking article on the subject with GE's boss, Jeff Immelt.
Vijay Govindarajan, a professor at the Tuck business school at Dartmouth and highly esteemed management consultant made much the same point in an interview I did with him for Forbes video.