Mistakes to avoid
Understanding frugal innovation strategies

Frugal innovation is primarily concerned with product functionality, whereas target-cost design seeks to reduce costs, particularly in manufacturing, sometimes at the expense of functionality. It's important to bear in mind that frugal innovation is by no means the degradation of an existing product to make it low-cost, but rather a new way of thinking about product design in terms of functionality to meet essential needs, leaving superfluous features to one side.