Frugal Innovation Improves Sales

Frugal Innovation Improves Sales
Frugal Innovation Improves Sales

Client Challenge

Changing buying patterns among lower middle class Americans worried the Chief Innovation Officer of a multi-billion dollar consumer products company. Marketing and Sales were concerned that the highly respected product development team, renowned for producing premium performance, was not  prepared to respond quickly enough to  produce lower unit cost products while maintaining the  spirit of the brand portfolio.

Amritt-Client Process

Working with the head of open innovation, Amritt investigated the market ecosystem for frugal innovation and supply in India and China. We brought back a bouquet of 11 ideas that could potentially ignite short and medium term product development and create improved margins for the client. We followed up by taking a client team on a guided trip to India; together we visited homes, stores, distributors, and product designers to enable a first-hand appreciation of the new product development process in a country with a large middle class with a much smaller wallet size.

Impact

Two of the 11 ideas, could be implemented in the U.S. market with minimal engineering effort and an immediate impact of profit margins. One idea was considered too radical for Western markets but was picked by the client’s emerging markets team and by changing the product packaging and configuration, sales of the product in 7 emerging countries spiked by over 14 percent.

Share

Related Insights

foreman-engineering-female-african-india-blue-unif-2022-05-02-02-49-27-utc

By conducting a workshop on effective cross cultural communication Amritt

man-playing-virtual-reality-map

In recent weeks India 8217 s telecommunications industry has been

airport-cargo-handlers-nominated-2022-08-01-01-23-39-utc

By learning the nuances of coordinating global engineering projects and

Washdown station_feature

By working with six Indian shops to produce nonferrous materials

Carbuertor_Feature

By redesigning more than 24 complete products the client was

Medical lighting_feature

By securing a reliable supplier the client survived the retirement

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Blog
Page
Dictionary
Comparisons
Capabilities
India Business Guide
Services
Private
Speaking
Insights
White Papers
News
Newsletters
Clients
Case Studies
Companies In India
Webinars
Presentations
Industries