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