Abstract: This paper reviews the status of low-cost innovation in emerging markets like India. Innovation in India has recently achieved worldwide attention, as its low-cost products made a worldwide success. This global recognition drives us to investigate the nature of low-cost innovation in India. We describe four types of low-cost innovation in emerging markets: namely Jugaad, frugal, value, and reverse innovation. We further explain their characteristics, similarities and differences. Lastly, we discuss the myths associated with these types of low-cost innovation.
Publication Year: 2014
Publication Date: 2014-10-17
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 133
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