Examples of Innovative Product that is Frugal

In summary, the group is conducting a feasibility study on frugal innovation and seeking ideas for a marketable product that can help solve societal problems. However, they are having difficulty deciding on a specific product as they have multiple equally good ideas.
  • #1
Erish
3
0
Poster has been reminded to post all schoolwork-type questions in the HH forums
Hi! we are currently conducting our feasibility study and we're given a theme: FRUGAL INNOVATION (Doing more with less resources). we needed a product that is marketable but also have a relevance to the society (can help solve problems often faced by people e.g. traffic, pollution, crime, etc..). we are having a hard time deciding on what product we will do so please give us some of your ideas.

A lot of thanks!

NOTE: the product must haven't been invented yet.
 
Physics news on Phys.org
  • #2
Erish said:
Hi! we are currently conducting our feasibility study and we're given a theme: FRUGAL INNOVATION (Doing more with less resources). we needed a product that is marketable but also have a relevance to the society (can help solve problems often faced by people e.g. traffic, pollution, crime, etc..). we are having a hard time deciding on what product we will do so please give us some of your ideas.

A lot of thanks!

NOTE: the product must haven't been invented yet.
Since this is your schoolwork project, please tell us some of the ideas you have been exploring. What ideas have you and your group brainstormed so far? :smile:
 
  • #3
+1

If you are having problems deciding that suggests you already have a lot of equally good ideas?
 

What is a frugal innovation?

A frugal innovation is a product or service that is designed to be affordable and accessible to a larger population, often in emerging markets. It focuses on maximizing value for the consumer while minimizing costs, making it a more sustainable and inclusive option.

What are some examples of frugal innovations?

Some examples of frugal innovations include the Tata Nano, a low-cost car designed for the Indian market, and the M-Pesa mobile money service, which allows users to send and receive money using their phones in developing countries. Other examples include solar-powered lanterns, low-cost water filtration systems, and affordable healthcare solutions.

How does frugal innovation benefit society?

Frugal innovation can benefit society in several ways. By making products and services more affordable, it can improve access to basic needs such as healthcare, education, and energy for those in developing countries. It can also drive economic growth by creating new markets and opportunities for entrepreneurs.

What are the challenges of creating frugal innovations?

One challenge of creating frugal innovations is balancing cost with quality. In order to be affordable, these products often have to be produced at a lower cost, which can affect their performance and durability. Additionally, navigating complex regulatory environments and cultural differences in different markets can also be a challenge.

How can frugal innovations be scaled for larger markets?

Frugal innovations can be scaled for larger markets by adapting them to meet the needs and preferences of different consumers. This may involve improving the quality and features of the product while still keeping costs low. Collaborating with local partners and leveraging technology can also help in scaling frugal innovations to reach a wider audience.

Similar threads

I Why should a Fourier transform not be a change of basis?
    • Linear and Abstract Algebra
2
Replies
43
Views
5K
I could really use some help picking my optional module [GameDev]
    • STEM Academic Advising
Replies
2
Views
874
Exploring the Physics of Water and Pollutant Compounds on Pea Plant Production
    • Introductory Physics Homework Help
Replies
2
Views
1K
Portable Energy Generator for off-Grid Villages
    • Electrical Engineering
Replies
24
Views
2K
I How powerful would a collider have to be to observe a sphaleron?
    • High Energy, Nuclear, Particle Physics
Replies
2
Views
2K
The Scientist as Hero - or not
    • Art, Music, History, and Linguistics
Replies
1
Views
1K
MHB Semi-direct products: a gentle introduction
    • Math Guides, Tutorials and Articles
Replies
2
Views
11K
I Time travel is a fact or fiction.?
    • Other Physics Topics
Replies
9
Views
1K
Exploring the Challenges of Occupying Space
    • Astronomy and Astrophysics
Replies
20
Views
3K
Schools Grad school emphasis on intro-level grades, computer science
    • STEM Academic Advising
Replies
2
Views
942

Hot Threads

Recent Insights

Back
Top