FRUGAL INNOVATION CHARACTERISTICS: MARKET, PRODUCT AND BUSINESS PERSPECTIVE
FRUGAL INNOVATION CHARACTERISTICS: MARKET, PRODUCT AND BUSINESS PERSPECTIVE
Author : TEDDY SYAFRIZAL Published on : 8th International Seminar on Industrial Engineering and Management (8th ISIEM Committee - Malang Indonesia)
Abstract
In decades, innovations are mainly to serve the consuming market of populations. India has started to promote the innovation to serve the “un-served” market. The fact that emerging countries have huge “un-served” populations and experiencing resource constraint, innovators are required to provide innovations that are extremely low in cost and able to withstand the constraints. The term frugal innovation is promoted for such innovation. In this study, the characteristics of frugal innovation are defined from market, product and business perspective. A model is proposed to merge all the characteristics and perspectives.
