Frugal Product Innovation in Urban Affordable Housing-With Special Reference to the Bottom of the Economic Pyramid

Abstract

This study is conducted to unearth the Frugal Product Innovation in the value chain to enable affordable housing solution at the Bottom of the economic pyramid. The Demand and supply factors are unearthed from the study as Affordability, Critical considerations of customers like Know Your Customer (KYC) and Rebuilding the value chain from traditional concepts using the concept of Frugal product Innovation. Factor Analysis using data from Primary survey reveals that price and Ease of Finance remain most Critical considerations in Affordable Housing for the Bottom of the Economic Pyramid.The study concludes by suggesting further process innovations in Affordable housing and states that eradicating poverty at the Bottom of the economic Pyramid is more effective in the long run than temporarily providing affordable housing solutions.