Disruptive Innovation
Words: 870 Pages: 3 5416Innovation Frugal innovation refer to the types of innovations that aim at reducing the complexity or cost of goods or the production process. In most cases, frugal innovations involve an elimination of non-essential elements of a good in order to meet specific demands of a specific market. They key is to deliver the greatest customer value at a pre-determined, usually affordable price point. To illustrate, frugal innovations in the car industry may involve removing features such as cruise systems, advanced […]