Frugal Innovation
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The presentation is about frugal innovation. Its about how innovators can innovate their product to serve the volume markets. One challenge is how high value and high margin brands create products for volume markets and low margin markets. The presentation reduces the complexity of the concept and dwells on the discussion on brand innovation and brand translation in frugal markets. Typically firms operating in frugal markets end up positioning themselves as poor mans product, thus labeling an individual are poor. This strategy can backfire, on the other hand using unethical methods of marketing products to marginal markets can stigmatice the whole industry. Thus product developers have to be critical and thoughtful while innovating for low margin markets. One fine example for frugal innovation is Life-boy soap and Nirma washing powder.
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Frugal Innovation
- 1. Anirudh Agrawal, PhD Fellow, CBS CSR
- 2. Contents โข Frugal Innovation โ โ โ โ โ Transportation Microfinance FMCG : fast moving consumer goods Energy Drinking Water โข Water Harvesting โ Sanitation โ Telecommunication โ Health Care โข Activity: Brand Management โข Theoretical Perspective on Frugal Innovation โข Criticisms Anirudh Agrawal, PhD Fellow, CBS CSR
- 3. http://www.youtube.com/watch?v=FYIwa3Y1KA o#t=157 Anirudh Agrawal, PhD Fellow, CBS CSR
- 4. Frugal Innovation โข Design to extreme affordability โข Strategic thinking towards volume markets โข Creativity and innovation towards extreme affordability โข Design, engineer and produce for marginal markets โข Translating and innovating a high margin brand for low margin markets โข Creating and innovating towards branded and quality products for marginal markets Anirudh Agrawal, PhD Fellow, CBS CSR Frugal innovation blogpost, stanford.edu, uni. Santabarbara โ frugal innovation centr
- 5. Frugal Innovation Market Potential Anirudh Agrawal, PhD Fellow, CBS CSR Source : WRI 2008
- 6. Anirudh Agrawal, PhD Fellow, CBS CSR
- 7. Transportation 120 billion dollars Anirudh Agrawal, PhD Fellow, CBS CSR
- 8. Anirudh Agrawal, PhD Fellow, CBS CSR
- 9. Anirudh Agrawal, PhD Fellow, CBS CSR
- 10. Anirudh Agrawal, PhD Fellow, CBS CSR
- 11. Anirudh Agrawal, PhD Fellow, CBS CSR
- 12. Anirudh Agrawal, PhD Fellow, CBS CSR
- 13. Anirudh Agrawal, PhD Fellow, CBS CSR
- 14. Anirudh Agrawal, PhD Fellow, CBS CSR
- 15. Electric Tricycle Anirudh Agrawal, PhD Fellow, CBS CSR
- 16. Micro-Finance Anirudh Agrawal, PhD Fellow, CBS CSR
- 17. Financial Services Pyramid Anirudh Agrawal, PhD Fellow, CBS CSR
- 18. What Is Microfinance? โข Microfinance is the offer of financial & non-financial services to people excluded from the traditional banking system. The services are adapted to the needs of the target populations. MICRO โข Micro-entrepreneurs โข Self-employed โข Low income populations โข Excluded populations FINANCE โข Business & educational loans โข Savings โข Micro-insurances โข Remittances โข Micro-entrepreneur training โข Coaching & workshops on health, hygiene, etc. Anirudh Agrawal, PhD Fellow, CBS CSR
- 19. Microfinance Stories โข Grameen bank โข SKS Microfinance Anirudh Agrawal, PhD Fellow, CBS CSR
- 20. Fast Moving Consumer Goods โข โข โข โข โข โข โข โข Sampoo Bathing Soaps Beauty Items Utensils Coolers and ACs Refrigerators TV sets Washing Machine Anirudh Agrawal, PhD Fellow, CBS CSR
- 21. Anirudh Agrawal, PhD Fellow, CBS CSR
- 22. Anirudh Agrawal, PhD Fellow, CBS CSR
- 23. Anirudh Agrawal, PhD Fellow, CBS CSR
- 24. Washing machine Anirudh Agrawal, PhD Fellow, CBS CSR
- 25. Story of Nirma Anirudh Agrawal, PhD Fellow, CBS CSR
- 26. Story of Lifeboy Anirudh Agrawal, PhD Fellow, CBS CSR
- 27. Cooling in Summers Anirudh Agrawal, PhD Fellow, CBS CSR
- 28. Earthen Refrigerator Anirudh Agrawal, PhD Fellow, CBS CSR
- 29. Water Cooler Anirudh Agrawal, PhD Fellow, CBS CSR
- 30. Grameen Danone Anirudh Agrawal, PhD Fellow, CBS CSR
- 31. Estimated Frugal Market for Energy 500 billion dollars Source: WRI 2008 Anirudh Agrawal, PhD Fellow, CBS CSR
- 32. Anirudh Agrawal, PhD Fellow, CBS CSR
- 33. Anirudh Agrawal, PhD Fellow, CBS CSR
- 34. Anirudh Agrawal, PhD Fellow, CBS CSR
- 35. Anirudh Agrawal, PhD Fellow, CBS CSR
- 36. Frugal Market for Water Source: WRI 2008 Anirudh Agrawal, PhD Fellow, CBS CSR
- 37. Anirudh Agrawal, PhD Fellow, CBS CSR
- 38. Anirudh Agrawal, PhD Fellow, CBS CSR
- 39. Water Harvesting Anirudh Agrawal, PhD Fellow, CBS CSR
- 40. Anirudh Agrawal, PhD Fellow, CBS CSR
- 41. Grameen Veolia Business Model Anirudh Agrawal, PhD Fellow, CBS CSR
- 42. Sanitation: Story of Sulabh Anirudh Agrawal, PhD Fellow, CBS CSR
- 43. Pay as you use model for Sanitation Anirudh Agrawal, PhD Fellow, CBS CSR
- 44. Sanitation: Poop Truck Anirudh Agrawal, PhD Fellow, CBS CSR
- 45. Health Care โข GE Portable device โข http://www.youtube.com/watch?v=yB47wxb6sY Anirudh Agrawal, PhD Fellow, CBS CSR
- 46. Arvind Eye Care Anirudh Agrawal, PhD Fellow, CBS CSR
- 47. Aravind Eye Care Van Anirudh Agrawal, PhD Fellow, CBS CSR
- 48. Emergency Medical Services Anirudh Agrawal, PhD Fellow, CBS CSR
- 49. Life Spring Hospitals Anirudh Agrawal, PhD Fellow, CBS CSR
- 50. Estimated Frugal market of Housing Anirudh Agrawal, PhD Fellow, CBS CSR Source: florence rizzo and anirudh agrawal YT summer school
- 51. Modular Housing Anirudh Agrawal, PhD Fellow, CBS CSR
- 52. Prefabricated Houses Anirudh Agrawal, PhD Fellow, CBS CSR
- 53. ICT Anirudh Agrawal, PhD Fellow, CBS CSR Source: florence rizzo and anirudh agrawal YT summer school
- 54. Examples โข โข โข โข Nokia Asha for developing Markets 100 dollar laptop 20 dollar tablet Grameen Telenor Joint Venture Anirudh Agrawal, PhD Fellow, CBS CSR
- 55. Activity โข Discuss in group of 3-5, how will a high margin brand strategise its brand and manage frugal innovation. โข Example: Arla innovating high energy, high nutirient yogurt for poor countries Anirudh Agrawal, PhD Fellow, CBS CSR
- 56. Theoretical Perspective Anirudh Agrawal, PhD Fellow, CBS CSR www.frugal-innovation.com
- 57. Criticism and Caution โข Ethical Marketing โข Quality Management โข Labeling and Framing Anirudh Agrawal, PhD Fellow, CBS CSR
- 58. Ethical Marketing Anirudh Agrawal, PhD Fellow, CBS CSR
- 59. Ethical Marketing Anirudh Agrawal, PhD Fellow, CBS CSR
- 60. Labeling and Framing : Poor Mansโ car Anirudh Agrawal, PhD Fellow, CBS CSR
- 61. Further readings Anirudh Agrawal, PhD Fellow, CBS CSR Source: florence rizzo and anirudh agrawal YT summer school