Reassessing the Core Product’s Relevance: Balancing Heritage against Modern Needs

Abstract

The objective of this paper is to examine the concept of core product and how this concept is affected on the one hand by clinging to heritage and on the other hand the need to keep abreast with trends and modernity. In essence, this paper speaks to the essence the two juxtaposed extremes of product obsolescence and product relevance. This paper reviews literature on other concepts such as the total product, and uses theoretical models in the literature review to support and buttress the discussion. The methodology adopted in the paper is that of using secondary data and citing examples from case studies. The paper discovered that in a fast-paced world of technological advancement and consumer sophistication, it is imperative for firms to continuously re-assess the concept of core product to sustain their operations and to maintain their customers by continuously examining and balancing product obsolescence against product relevance in an ever-changing world.