Unit 4 P4
P4 Explain developments in frugal innovation and provide examples of how it is used in an organisational context.
Frugal innovation is minimizing the complexity and the cost of goods and its production which is done for the buyers who have lower income.
In sg frugal innovation is used for the buyers who cannot afford to buy the product that is for the sophisticated buyers. For the low income buyers, sg produced drinks that has same name but the complexity of the drinks is reduced so that the production cost is less than the expensive products and the buyers can enjoy the same brand product at lower cost.
Frugal innovation is important for sg to keep the customers of lower end market. For frugal innovation, sg produces its product in the countries
Frugal innovation is minimizing the complexity and the cost of goods and its production which is done for the buyers who have lower income.
In sg frugal innovation is used for the buyers who cannot afford to buy the product that is for the sophisticated buyers. For the low income buyers, sg produced drinks that has same name but the complexity of the drinks is reduced so that the production cost is less than the expensive products and the buyers can enjoy the same brand product at lower cost.
Frugal innovation is important for sg to keep the customers of lower end market. For frugal innovation, sg produces its product in the countries