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In another example of Box 3 thinking and reverse innovation, VG tells us the story of Dr J and his $30 artificial legs.
Artificial legs in the US cost $20,000. In Thailand, where Dr J lives, 90% of the population make less than $2 a day, so if someone needed an artificial leg they would have to work for 10,000 days just to pay for it. This meant they were non-consumers. People in Thailand that needed artificial legs were not going to buy $20,000 legs from the US.
Dr J turned to Box 3 innovation to convert these non-consumers into consumers. He used Box 3 thinking to push the price performance paradigm and to do more with less – to do a lot more with a lot less. The artificial leg he created in Thailand had to be higher quality than the $20,000 legs in the US because of the differences in lifestyle; in Thailand people sit cross-legged, walk on uneven road surfaces, ride bicycles to earn a living, and work in agricultural fields. The legs had to be durable, light weight, and comfortable.
Take a look at this week’s edition of the Vijay Govindarajan Three Box Solution Video Series to find out how Dr J did it. And how Box 3 thinking is not about lowering costs, it’s about unlocking enormous value.
Video 21: Reverse Innovation – An Artificial Leg By Dr J
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