Ever seen a product in the store that was very sophisticated and very expensive? You didn’t know how to use it and thought the product was ahead of its time? You have probably noticed disruptive innovation starting to peak its head out.
Companies often force their innovation too early. Their products come out before their customer actually develops a need for it. InventHelp Innovation These are products that only the wealthy and most demanding of their customers will buy. While they might not sell many of them, they will still make a profit because the item costs so much.
Companies who make money this way are actually opening up the door to their competition. A smaller company or a disruptive company will then come up with an innovation that allows the customer to have the same item, or a similar item, at a price that they can afford or without the skill requirement.
Disruptive innovation is simply innovation that takes advantage of the ability to make a cheaper version or a less skilled version of a product when the market is ripe for it. These companies often have lower targets, lower gross, simpler products, etc.