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- Title
AN EXTENDED CONCEPTUAL FRAMEWORK FOR PRODUCT-MARKET INNOVATION.
- Authors
DE WAAL, GERRIT A.
- Abstract
Recognising the greater variety and sophistication of product innovation strategies to target existing and previously untapped markets, the author presents an extended version of the Ansoff product-market expansion grid that highlights the different approaches for developed world and emerging markets. The proposed model consists of seven distinct categories of growth options and depicts alternative strategic possibilities within each category, where appropriate. Categories that are new to the matrix include resource-constrained innovation, necessity innovation and reverse innovation. Necessity innovation is a new concept and a special case of user-innovation, defined as innovation by resource-constrained consumers in emerging markets to serve their own unmet needs. Utilising recent industry examples from a variety of media, the author demonstrates the traits of each strategic approach to grow revenue streams through product-market innovation.
- Subjects
MARKETING of new products; ECONOMIC competition; INNOVATION adoption; EMERGING markets; CONSUMER preferences
- Publication
International Journal of Innovation Management, 2016, Vol 20, Issue 5, p-1
- ISSN
1363-9196
- Publication type
Article
- DOI
10.1142/S1363919616400089