Overview
Growth of innovation and technology-led products is faster than their adaptation among the consumers. Innovations at the bottom-of-the-pyramid market segments possess attributes of low cost, price competitive, and high value for money. This chapter discusses the causes of innovation boom in consumer-centric and industrial products and its effects on market entropy. High competition and industry rivalry of low-cost innovations in consumer and business-to-business market segments cause chaos, demand fragmentation, consumer defection, and drift to niche markets. Attributes of incremental innovation and reverse innovation and their changing market potential have been discussed in this chapter. Discussions ...
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