Executive Summary
From upgrading mobile phones to trading in cars, consumers often face the decision of whether to buy new versions of products they already own. This depends not only on how much real difference their is between the old and and new version, but how much difference consumers perceive there to be. What drives those perceptions? New research highlights the role that consumers’ sense of self-improvement can lead them to recognize greater levels of innovation in new products. This article describes five experiments from a recent study showing just…
