What significant benefit does disruptive innovation offer in a competitive market?

Disruptive innovation offers the significant benefit of providing opportunities to reach untapped customers. This type of innovation typically introduces products or services that are more accessible, affordable, or convenient than what currently exists in the market. By catering to the needs of segments of the market that are underserved or overlooked by established competitors, companies can attract new customers who were previously not engaged.

This aspect of disruptive innovation is crucial in a competitive market, as it can create new demand and establish a diverse customer base that contributes to the company's growth. Rather than solely improving existing products or services, which is often the focus of incremental innovation, disruptive innovation opens avenues to serve completely new markets and customer demographics. It enables businesses to rethink their strategies, capture market segments that were not addressed before, and dominate in areas that were once considered less lucrative.