Back Issues 11-20

THE DEVELOPMENT OF FRUGAL INNOVATION IN EMERGING ECONOMIES: INSTITUTIONAL POLICY AND 

CUSTOMIZATION PERSPECTIVES

Kuo-Sung Lin

Department of Marketing, Fujian Business University, Fujian, China

Chih-Ming Chen*

Department of Finance & Economics, Fujian Business University, Fujian, China

*Corresponding author: This email address is being protected from spambots. You need JavaScript enabled to view it.

Kai-Ping Huang

Department of Business Administration, Fu Jen Catholic University, Taiwan

Abstract

Frugal innovation has been recognized as one of the emerging concepts that have assisted the emerging economies to contribute to the overall growth and development of the global economy. Emerging economies with scare amounts of sources and higher rates of low and mid-income consumers usually face barriers in attaining growth, as the organizations lack creative solutions or unique product manufacturing ideas. Even in such situations, frugal innovation is capable of driving organizational and emerging market success through the development of innovative and creative ideas as well as an effective business model under the manufacturing process of the products. The development of quality customer-oriented products at low-price through the use of efficient resources has helped the organizations (manufacturing) to generate sales and keep up with the pace of the rapidly changing market and consumer purchase trends. Based on this context, the research report aims to portray the significant relationship between the frugal innovation and the institutional policies, relationship with the resources, and its relationship with the product customization applications in the emerging economies since past years. In conducting research, various academic journals and past studies have been utilized to justify the significant research findings in the paper.

Keywords: frugal innovation, emerging economies, institutional policy, product 

customization

Attachments:

460 Final.pdf

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128 kB