Handbook of Research on New Product Development
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Handbook of Research on New Product Development

Edited by Peter N. Golder and Debanjan Mitra

New products are the major driver of revenue growth in today's dynamic business environment. In this Handbook, the world's foremost experts on new product development bring together the latest thinking on this vitally important topic. These thought-leading authors organize knowledge into useful and insightful frameworks covering all aspects of new product development: companies, collaborators, customers, context, markets, and performance. Managers will benefit from the handbook by expanding their knowledge of new product development and researchers will learn about opportunities to continue expanding on this body of knowledge.
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Chapter 10: Strategic use of product enhancements: upgrades, add-ons, extras, and accessories

Steven M. Shugan

Abstract

Although developing new products is often essential for the survival of a seller, it is very costly and risky to continuously launch new products or replace established products with new ones. Sometimes, a less risky alternative is to modify or enhance the established existing base (or core) product with upgrades, add-ons, extras, and accessories. This chapter reviews the use of these product enhancements to modify established base products to create new consumer choices. Although the literature often uses these terms interchangeably, it is useful to distinguish between them because they can perform different functions. Therefore, the authors provide definitions and examples of each with explanations of how they are different. They discuss the strategic uses of these product enhancements, including signaling, market segmentation, channel management, and deterrence of competition. The chapter concludes with opportunities for future research.

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