Disruptive Innovation Vs. Sustaining Innovation
The crucial aspect of impactful strategic planning is to acquire the ability to discern the total number of development breakthroughs and innovative opportunities to ensure successful competitive operations in the field. On the other hand, the innovation in this exciting category can be a new product or service to target clients with new needs, while in sustaining one is employed to form new or to change the existing markets. The motto is to sustain innovation that will ensure a company caters to the present need of the existing client base yet they stand ahead of the competitors. Disruptive innovations have leveraged the breakdown of the previously powerful system.
Aspect |
Disruptive Innovation |
Sustaining Innovation |
---|---|---|
Definition |
It mostly relates to introducing a new product or service that not only creates a new market but also may displace existing markets. |
Improves existing products and services and may help the firm not only to provide better customer service but also to retain the existing market share or even expand it. |
Focus |
Cultivates a niche targeting a current customer group or a brand-new audience. |
The business must exist based on demand and therefore try to satisfy existing customers evolving needs. |
Risk |
Radically an inflammatory nature is evident. The uncertainty about the market acceptance and adoption of the new gadgets poses an inherent risk. |
Gives first mover advantage as it launches additional products or services that use using existing customer base with the known market demand. |
Impact on Market Leaders |
The companies new on the market used to not get the attention they deserved but, paradoxically, they are now the ones who are replacing the top players as the innovation gains momentum. |
Market leaders are the ones who like to drive the success of business through sustained innovation that helps them to be more competitive. |
Examples |
Uber has substituted the traditional taxicabs as the ride-sharing was introduced by the technology. |
Apple always makes sure all the future variants of iPhone way ahead compared to the previous ones. |
Customer Response |
Initially, we may experience doubt and resistance from customers who are not used to our proposed offerings as they have already envisioned successful ways of dealing with these problems. |
Usually customers get captivated by it since it satisfies their best-known wants and aspirations. |
Business Model Transformation |
It may necessitate a restructuring / changing in the business approach to suit to the new competitive market as a result. |
Normally would be concerned with perfecting the management process by eliminating the weak parts of the business model. |
What Is Disruptive Innovation in Product Management?
Disruptive innovation in product management refers to creating new products or services that shake up the market and change the way things are done. These innovations often start small, but they can grow rapidly and eventually replace existing products or services. In simple terms, disruptive innovation is about coming up with new ideas that completely change the game in an industry.
Table of Content
- What Is Disruptive Innovation?
- Understanding Disruptive Innovation Requirements
- Disruptive Innovation Vs. Sustaining Innovation
- Disruptive Innovation Vs. Disruptive Technology
- 4 Tips for Understanding the Theory of Disruptive Innovation
- Impact of Disruptive Innovation
- Conclusion: Disruptive Innovation in Product Management
- FAQ’s: Disruptive Innovation in Product Management