The process of innovation differs when targeting affluent markets versus mass markets in terms of the focus. For affluent markets, innovation efforts are often centered on creating high-end, premium products or services that can yield profitable results. On the other hand, when targeting mass markets, the focus of innovation is on creating products or services that are affordable and provide value for money. The aim here is to meet the needs of a larger customer base who are looking for cost-effective solutions.
Innovation is more than creativity; it is a process that is structured, with rules and best practice...
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