Types of Innovation
C4RI: Innovation Foundations Episode Three
In this C4RI episode we discuss the different types of innovation: regeneration, step change and breakthrough.
Understanding the different types or classifications of innovation allows companies to prioritise their efforts and allocate resources appropriately. It also helps teams to set expectations of the potential impact and success of launches – they’ll know when to keep going and when to kill it.
For example, breakthrough innovations have the opportunity to drive significant change and create new habits for consumers – they achieve long term wins in the market, deliver innovation equity and change the parameters of the category – but they may not show immediate commercial success. Line extensions and regenerative innovation are more incremental and focused on maintaining the status quo: easily understood by consumers, they often show strong immediate return.