At the Universe
Foundation, where I work, we are just starting up a new project in
collaboration with the Danish Industrial Foundation – it’s called SMART.
The idea is to assist and
follow a handful of Danish 5 medium sized companies as they try to lower their costs
and prices in order to adapt to an increasing pressure on prices in the
European market.
What’s important is that
the reduction in cost should not cause a reduction in utility and satsifaction
for the end-user. Ideally, we are looking for ways to increase the experience
quality in new wasy that do not add cost.
From our research over
the past year with “suitable” innovation in Shanghai and with “frugal solutions”
in India and in the West, we have learned that it’s very hard for companies to
move downwards in prices – particularly for established companies, that are
operating in the main export markets in Europe, where price used to be less of
an issue.
We are trying hard to
lower the threshold for the companies to get started, so were are specifically
not attempting radical innovation, but rather applying a systematic, incremental
approach of understanding customers needs exactly and modifying products to
deliver just the utility and quality that really matters to end-users.
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