15th Special Issue for the ISPIM: Changing the Innovation Landscape; Guest Editors: J. Tidd, E. Huizingh and S. ConnNo Access

AN EXTENDED CONCEPTUAL FRAMEWORK FOR PRODUCT-MARKET INNOVATION

GERRIT A. DE WAAL

GERRIT A. DE WAAL

RMIT University, 124 La Trobe St, Melbourne, VIC 3000, Australia

E-mail Address: gerrit.dewaal@rmit.edu.au

Corresponding author.

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https://doi.org/10.1142/S1363919616400089Cited by:7 (Source: Crossref)

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.

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