JOURNAL ARTICLE

DESIGN PRODUCTS THAT WON'T BECOME OBSOLETE.

  • Published In: Harvard Business Review, 2024, v. 102, n. 6. P. 96 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Govindarajan, Vijay; Eapen, Tojin T.; Finkenstadt, Daniel J. 3 of 3

Abstract

The article focuses on "products that grow," or adaptable products designed to evolve with users' changing needs, thereby extending product lifespans, enhancing customer value, and promoting sustainability. It examines how companies use configurable hardware and updatable software to address challenges such as age-related changes, technological evolution, and shifting learning needs. The article also outlines business models for capturing value from these products, including premium pricing, subscription upgrades, complementary services, and resale platforms. Examples from diverse industries, such as Radio Flyer's Grow with Me Racer and Fairphone's modular smartphones, illustrate how adaptable products foster customer engagement, enable rapid market response, and reduce environmental impact. Overall, the article argues that integrating products that grow into business strategies aligns with increasing consumer demand for flexibility, durability, and ecological responsibility.

Additional Information

  • Source:Harvard Business Review. 2024/11, Vol. 102, Issue 6, p96
  • Document Type:Article
  • Subject Area:Marketing
  • Publication Date:2024
  • ISSN:0017-8012
  • Accession Number:180257758
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