Renée Mauborgne is Distinguished Fellow and Affiliate Professor of Strategy and Management at INSEAD and a fellow of the World Economic Forum. She is an advisor to corporations in diverse industries in the USA, Europe and Asia-Pacific region. Read what she has to say about the challenges of “value innovation” and the concepts of “fair process” and new “market space”.
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“The major argument for value innovation is that it tends to be far more profitable than “me too” launches or the introduction of products that claim marginal improvement on the original. While the latter categories make up some 86% of overall new product launches, they only account for 62% of increased revenue and 39% of increased profits. Meanwhile value innovations, which only represent 14% of overall new product launches, represent 38% of increased revenue and 61% of increased profits.”
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