Types of Innovation
Integration Innovation
integrating many different elements into a singular centrally managed system
Platform Innovation
interposes a simplifying layer to mask a legacy of complexity and complication, freeing a next generation in offers
Line-Extension Innovation
make structural modifications to an established offer to create a distinctive sub-category
Acquisition Innovation
solves category renewal through merger and acquisition
Organic Innovation
company uses its internal resources to reposition an new category
Value Migration Innovation
consists of redirecting business model away from commodity in the markets value chain towards one richer in margins
Enhancement Innovation
continues aim of line extensions driving innovation into finer elements of detail with less impact on the end product
Disruptive Innovation
creates new market categories based on technology change or disruptive business model
Application Innovation
develops new market for existing products by finding unexploited uses for them
Experimental Innovation
differentiating the experience of the offering (extra addition)
Value-Engineering Innovation
extracts cost from the materials and manufacturing of an established offer without changing its external properties
Marketing Innovation
focuses on differentiating the interaction with the customer during purchase process
Product Innovation
focuses on existing markets for existing products, differentiating through features and functions that current offers don't have
Process Innovation
focuses on improving profit by extracting waste from the process to produce the offer