This paper contributes to the lack of an overall understanding of the impact modular product structures have on economic factors. Therefore a literature study is conducted in this paper and an impact model is created, providing cause-effect chains between modularity and economic factors. Effects which have been observed in product life phases are named and if possible related to their cause, being one of the properties of modularity (commonality, seperability, combinability). The life phase effects are then summed up to general strategic and economic factors.