By Aline Krämer
The dissertation exhibits why concepts are important to reach the low-income industry phase, i.e. the 4 billion humans dwelling on below eight USD in keeping with day. particularly, it explores the position low-income shoppers can play in company innovation procedures. The examine exams and expands theoretical findings on consumer thoughts and lead clients within the Brazilian low-income context. The findings additionally target to augment the capability of businesses to strengthen new strategies for the up to now untapped low-income industry by means of leveraging the data in their goal group.
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Other authors refer to “Ghandian innovations” (Prahalad and Mashelkar 2010), “grassroots innovations” (Gupta 2010) or “frugal innovations” (Tiwari and Herstatt 2012a/2012b/2012c). 36 Insights from theory as they often “leapfrog” conventional practices, meaning that they help move directly to more efficient ways of consumption and production by immediately making use of, for example, renewable energy or biodegradable packaging. Relevance of open innovation for low-income markets Despite the many examples of successful innovation in low-income markets, many other ventures have not found success.
Kristensson et al. find that “creative ideas may offer a successful start to innovation, which is important since research indicates that most projects do not fail at the end, but at the beginning” (2004, 4). ). Some studies even find that users are able to develop more original ideas than company executives at this stage (Kristensson et al. 2002, 59; Magnusson 2009; Poetz and Schreier 2009, 12). Insights from theory 27 Despite evidence that companies could significantly improve their new product development process, the question remains why many shy away from integrating consumers during the early stages of innovation.
Consumers can make contributions to all phases of the innovation process. Their needrelated information is most valuable in the early stages of the process, while their solution-related information can contribute to the development phases. In later phases, they can help enhance products – for example, by testing prototypes – or assist with innovating distribution or marketing channels. However, research finds that particularly their integration in the early stages has a positive effect on new product success (Rothwell et al.
Low-Income Consumers as a Source of Innovation: Insights from Idea Competitions in Brazilian Low-Income Communities by Aline Krämer