Frugal Innovation Essay

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Term Paper – Frugal Innovation in India Submitted by: S. Shubhanjali Term Paper – Frugal Innovation in India Submitted by: S. Shubhanjali Mays Business School MKTG 671 - Product Innovation Mays Business School MKTG 671 - Product Innovation Contents Abstract 3 1. Introduction 4 2. Issues faced 6 2.1 Low and/ Or irregular income 6 2.2 Limited or No education 6 3. Characteristics of Frugal Innovation 7 3.1 Cost of Ownership 7 3.2 Robustness 7 3.3 User Friendliness 7 3.4 Economies of Scale 8 4. Methodology 8 5. Major Frugal Innovations of India 8 6. Focus of the Paper 10 6.1 Tata Ace 10 6.2 Tata Nano 10 6.3 Battery operated Chotukool Fridge 11 7. Understanding of these innovations 12 8. Summary 13 9. Conclusion 13 10. Bibliography 15 Abstract The basic aim of this paper was to understand what Frugal Innovation means and entails. I chose the topic Frugal Innovation in India basically because India is being considered as the pioneer and a lead market for Frugal Innovations as Indians love to do Jugaad. This has made India innovative, creative and very open to the idea of Frugal Innovation. For the purpose of this paper, first I looked at the basic issues faced while trying out Frugal Innovation which were Low income and No Education. I also looked at how some of the already available frugal innovations in the market already were helping with these. I also concentrated on the factors which are present and have to be kept in mind when planning to come up with Frugal Innovation offering for the poor or Bottom of the Pyramid. These characteristics are: Lower Cost of Ownership, Robustness, User Friendliness, Economies of Scale, Value proposition, Volume opportunities, and Fault resistance. To understand the concept of frugal innovation, I looked at the three famous frugal innovation in India. This paper allowed me to understand Frugal

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