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.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 399-411 |
| Number of pages | 13 |
| Journal | Journal of Strategic Marketing |
| Volume | 23 |
| Issue number | 5 |
| DOIs | |
| State | Published - Jul 29 2015 |
All Science Journal Classification (ASJC) codes
- Strategy and Management
- Marketing