ENTRENEURSHIP
1. Explain how crowdsourcing is used to generate product ideas.
- Many organizations use crowdsourcing for innovation of the certain product for
development. They conducting a survey from their consumers to gain an idea on
how can they product more efficient and more attractive for the other consumers.
Also, in advertising the product on social media is important for the company to
gain the information and suggestion of the consumer to make their product better.
2. Discuss the merits and limitations of lead users as a source of innovations.
- The Lead User Method is a market research tool that may be used by
companies and or individuals seeking to develop breakthrough products. In
contrast to the traditional market research techniques that collect information from
the users at the center of the target market, the Lead User method takes a different
approach, collecting information about both needs and solutions from the leading
edges of the target market and from analogue markets, markets facing similar
problems in a more extreme form.
3. How does diffusion differ from adoption?
- Diffusion is the communication process spread from a certain channel of a
person, an organization, social media, program. Their way of making decision is
based on information that they collect across the country to innovate a product.
- Adaptation is a process of decision came thru experience of acceptance and
rejection. Adaptation is focus on the perspective of studying and examine.
4. How does frugal innovation differ from targeting low income segments?
- Frugal innovation is considered by many to be one of the key solutions that
enables enterprises to access low-income markets in developing countries.
However, the discourse on frugal innovation has painted a singularly product-
centric picture of innovation by overemphasizing the products’ value propositions,
designs and underpinning technologies. This position paper aims to dispel the
myth that frugal innovation for low-income markets is solely rooted in the
configuration of a product and its components. Rather, frugal innovation is said to
involve the implementation of novel ideas across the entire architecture of a
business model
1. Explain how crowdsourcing is used to generate product ideas.
- Many organizations use crowdsourcing for innovation of the certain product for
development. They conducting a survey from their consumers to gain an idea on
how can they product more efficient and more attractive for the other consumers.
Also, in advertising the product on social media is important for the company to
gain the information and suggestion of the consumer to make their product better.
2. Discuss the merits and limitations of lead users as a source of innovations.
- The Lead User Method is a market research tool that may be used by
companies and or individuals seeking to develop breakthrough products. In
contrast to the traditional market research techniques that collect information from
the users at the center of the target market, the Lead User method takes a different
approach, collecting information about both needs and solutions from the leading
edges of the target market and from analogue markets, markets facing similar
problems in a more extreme form.
3. How does diffusion differ from adoption?
- Diffusion is the communication process spread from a certain channel of a
person, an organization, social media, program. Their way of making decision is
based on information that they collect across the country to innovate a product.
- Adaptation is a process of decision came thru experience of acceptance and
rejection. Adaptation is focus on the perspective of studying and examine.
4. How does frugal innovation differ from targeting low income segments?
- Frugal innovation is considered by many to be one of the key solutions that
enables enterprises to access low-income markets in developing countries.
However, the discourse on frugal innovation has painted a singularly product-
centric picture of innovation by overemphasizing the products’ value propositions,
designs and underpinning technologies. This position paper aims to dispel the
myth that frugal innovation for low-income markets is solely rooted in the
configuration of a product and its components. Rather, frugal innovation is said to
involve the implementation of novel ideas across the entire architecture of a
business model
