Frugal innovation: Conception, development, diffusion, and outcome

Frugal innovation (FI) demonstrates a new entrepreneurial landscape where small firms with limited resources develop innovations for underserved customers in low-income countries. FIs also create new markets and contribute to sustainability. The studies so far have highlighted various frugal products introduced by large and small firms around the world. This study aims to explore the process of how individuals at the grassroots level successfully conceptualize, develop, and diffuse their FIs to achieve commercial success. It analyzes the antecedents, processes, and consequences of FI development and commercialization, and explores how FIs evolve and diffuse in emerging markets. It also seeks to identify what triggers and motivates individuals to engage in FI. The study points out the initiative that individuals take and the challenges they face, from inception to the successful commercialization of their innovations. We therefore portray an overall understanding of the antecedents, processes, and consequences for these entrepreneurs. Along with the scholars, the findings of this study will be insightful for practitioners who are interested in the frugal innovation phenomenon. It points out issues, such as the dual-business model, innovation to serve low-income customers, and diffusion patterns that managers need to understand when shaping their business strategies, for emerging markets in particular and the world in general. (C) 2020 Elsevier Ltd. All rights reserved.