HBR IdeaCast The Case for Selling Products that Adapt
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Dec 17, 2024 Vijay Govindarajan, a professor at Dartmouth's Tuck School of Business and co-author of a key article on adaptive product design, discusses the shift from planned obsolescence to creating products that grow with consumers. He highlights the importance of innovation, using examples like expandable shoes and convertible bikes. The conversation touches on how businesses can benefit from sustainability and continuous customer feedback, delivering long-term value for both consumers and companies while fostering loyalty.
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The Shift to Adaptability
- Companies are shifting from planned obsolescence to product adaptability.
- This means designing products that grow with the consumer through updates and add-ons.
Examples of Adaptable Products
- In India, a company makes shoes that expand three sizes as children's feet grow.
- Huffy introduced a convertible bike in 1949 with training wheels and adjustable seat/handlebars.
Benefits of Adaptable Products
- Products that grow benefit customers and the environment.
- This approach can also increase corporate profits through premium pricing and additional services.