When a market may require a drastically simplified version of the firm's product due to lack of purchasing power or usage conditions, this is known as:
A) supplementing.
B) backward innovation.
C) new narrowcasting.
D) lightening rod.

Question

Quizplus · Accepted Answer

This is known as backward innovation where the firm needs to simplify its product to cater to a market with lack of purchasing power or usage conditions. Backward innovation is the process of innovating by simplifying an existing product to make it more affordable and accessible for consumers in emerging markets or low-income segments.

When a Market May Require a Drastically Simplified Version of the Firm's