Product Lifecycle
All products mature through 5 stages of development. The length of each period varies tremendously. Some products have very short cycles, whereas others can take decades or even centuries to go through the cycle. This framework details a 5-phase approach to proper Product Lifecycle Analysis and draws out key strategic insights at each stage of the lifecycle. Specific topics covered include the Consumer Adoption Curve, Bass Diffusion Model, Lifecycle-Performance Matrix, Strategic Positioning, among others. |
$39.00
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Rogers' Five Factors
Rogers' Five Factors is a framework for analyzing and understanding the diffusion and adoption of product innovations. Whereas the Product Lifecycle (above) focuses on people, Rogers' Five Factors is focuses on the product. This framework proposes that the rate of innovation diffusion is largely driven by 5 product-based factors. This document explains the Rogers' Five Factors, provides examples, shows how to use this framework in conjunction with the Production Adoption Lifecycle. |
$39.00
|
Product Lifecycle
All products mature through 5 stages of development. The length of each period varies tremendously. Some products have very short cycles, whereas others can take decades or even centuries to go through the cycle. This framework details a 5-phase approach to proper Product Lifecycle Analysis and draws out key strategic insights at each stage of the lifecycle. Specific topics covered include the Consumer Adoption Curve, Bass Diffusion Model, Lifecycle-Performance Matrix, Strategic Positioning, among others. |
$39.00
|
Rogers' Five Factors
Rogers' Five Factors is a framework for analyzing and understanding the diffusion and adoption of product innovations. Whereas the Product Lifecycle (above) focuses on people, Rogers' Five Factors is focuses on the product. This framework proposes that the rate of innovation diffusion is largely driven by 5 product-based factors. This document explains the Rogers' Five Factors, provides examples, shows how to use this framework in conjunction with the Production Adoption Lifecycle. |
$39.00
|
Psychology of Product Adoption
Some innovations are truly spectacular, but consumers are slow or just refuse to adopt. In fact, over 70% of all new products fail in the marketplace—and innovative, new products fail at an even higher rate. This presentation discusses the topics of Prospect Theory, Endowment Effect, Loss Aversion, Give and Get Dynamics, Innovator's Curse, Product-Behavior Value Matrix, among other topics. It further distills these concepts into Six Product Launch Strategies. |
$39.00
|
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Find documents of the same caliber as those used by top-tier consulting firms, like McKinsey, BCG, Bain, Deloitte, Accenture.
Our PowerPoint presentations, Excel workbooks, and Word documents are completely customizable, including rebrandable.
Save yourself and your employees countless hours. Use that time to work on more value-added and fulfilling activities.
Explore the Top 100 Best Practices on Strategy & Transformation
Dynamic Pricing Strategy for Boutique Hotel Chain in the Luxury Segment
Scenario: A boutique hotel chain operating within the luxury segment is facing challenges with its current pricing strategy, leading to uneven occupancy rates and revenue fluctuations.
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Some innovations are truly spectacular, but consumers are slow or just refuse to adopt. In fact, over 70% of all new products fail in the marketplace—and innovative, new products fail at an even higher rate.
Why is this the case? And, how do companies overcome this?
This document discusses the psychology of product adoption. Topics include Prospect Theory, Endowment Effect, Loss Aversion, Give and Get Dynamics, Innovator's Curse, Product-Behavior Value Matrix, among other topics. It distills these concepts into Six Product Launch Strategies.
This presentation has instructional slides and examples.
The foundation of this consumer adoption discussion is around the difference between objective gains and losses vs. subjective gains and losses. This fundamental consumer bias results in psychological switching costs, in addition to economic ones. Studies have shown that, psychologically, losses loom larger than gains by two to three times.
The document delves into the intricacies of consumer psychology, emphasizing how reference points influence perceived gains and losses. It explains that consumers evaluate gains and losses relative to their current status quo, which can vary significantly across different markets. For instance, a price change in one region may be perceived differently in another, highlighting the importance of understanding local consumer reference points.
The presentation also covers the Endowment Effect, illustrating how consumers place higher value on items they already possess compared to new acquisitions. This psychological bias means that consumers are more likely to invest resources in retaining what they have rather than acquiring new products. The implication for businesses is clear: new offerings must significantly outperform existing solutions to overcome this inherent bias.
In addition, the document addresses the "Give and Get Dynamics," where consumers must give up an existing benefit to gain a new one. This trade-off is crucial in product adoption, as the perceived value of the new product must exceed the value of the old by a substantial margin. Companies are advised to ensure their new products offer at least three to ten times the value of existing ones to successfully navigate this psychological hurdle.
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Source: Best Practices in Behavioral Economics, Product Strategy, Psychology, Product Launch Strategy PowerPoint Slides: Psychology of Product Adoption PowerPoint (PPT) Presentation Slide Deck, PPT Lab
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Product Strategy Product Launch Strategy Product Go-to-Market Strategy New Product Development Maturity Model Business Maturity Model Product Lifecycle Positioning Pricing Strategy Growth Strategy Corporate Strategy Product Adoption Marketing Plan Development Marketing Marketing Strategy Business Case Development Financial Modeling Business Case Example Business Case Template Capital Budgeting Business Case Sample Business Case Capital Budgeting Business Case Porter's Five Forces Porter's Five Forces Analysis Porter's 5 Forces Digital Transformation Customer Experience Business Transformation Digital Transformation Strategy Cyber Security User Experience Customer Strategy Cybersecurity Mobile Strategy Organizational Transformation IT Security Corporate Transformation Entrepreneurship Startup Small Business Presentation Development Structured Communication Communications Strategy Presentation Design Effective Communication Pyramid Principle Minto Pyramid Barbara Minto Strategy Development Strategic Analysis Business Framework PowerPoint Diagrams Management Model PowerPoint Diagrams Innovation Management BMI Innovation Business Model Innovation Business Model Design Product Management Behavioral Economics Value Creation Shareholder Value Shareholder Value Analysis Total Shareholder Value Consumer Behavior Maximizing Shareholder Value Behavioral Strategy Go-to-Market
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