Frugal innovation is a way that companies can create high-quality products with limited resources. Once the preserve of firms in poor markets, Western companies are now seeking ways to appeal to cost-conscious and environmentally-aware consumers at home. With an estimated trillion-dollar global market for frugal products, and with potentially huge cost savings to be gained, frugal innovation is revolutionizing business and reshaping management thinking. This book explains the principles, perspectives and techniques behind frugal innovation, enabling managers to profit from the great changes ah.;Table of Contents; List of Case studies; Foreword by Paul Polman, CEO, Unilever; Preface; 1. Frugal innovation: a disruptive growth strategy ; The rise of the frugal economy; Doing better with less; Unusual frugal competitors; Conclusion; 2. Principle one: engage and iterate; A costly and rigid R & D model; A market-focused, agile R & D model; Back-end innovation: improving execution agility ; Recommendations for managers; 1. SNCF: high-speed innovation ; Conclusion; 3. Principle two: flex your assets; The rise of frugal manufacturing; Creating a frugal supply chain; A frugal services revolution.