This article examines the product innovation management strategy of a developed economy multinational corporation case in India. Drawing on institutional theory, the analysis indicates that product innovation for emerging markets is essentially built on the frugal innovation capabilities of a firm. The findings show that through frugal engineering, bricolage, and modularity, it is possible to implement frugal innovation that creates value with less resource and at low costs. Further, the analysis shows how developing a collaborative ecosystem along with a deep embeddedness in the local economy facilitates frugal innovation. The article has important implications for theory and management practice.
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