Economics 1021A/B Study Guide - Quiz Guide: Literature Review, Collaborative Partnerships, Opportunism

• School: Western University
• Department: Economics
• Course: Economics 1021A/B
• Professor: bruce hammond

Document Summary

Article: product innovation for the people"s car in an em: introduction. How to design + how to diffuse innovations to effectively tap into local demand in mass markets in em. Bop: highly price sensitive, simpler products, disinclined to pay for unnecessary features, robust products (resist heat, dust, humidity, resale value low risk of malfunction. All the opposite from what mnes usually do: literature review and concept development. How innovators may respond to demand in low-end segments, where the functionality in the available products overshoots what customers can utilize; Product innovation to provide a different functionality or altered performance package than that available in existing product involves; A change in the core technological concepts and scientific principles embodied in components. A change in configuration or linkages between components w/o altering the core technology embodied. Can help partners have access to specialized knowledge, assets, resources for little cost. Risk of outsourcing: opportunism, diffusion of core competencies, methodology.