BUY WITH CONFIDENCE
DESCRIPTION
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.
Got a question about the product? Email us at support@flevy.com or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.
Source: Best Practices in Psychology, Consumer Behavior, Product Adoption, Behavioral Strategy PowerPoint Slides: Psychology of Product Adoption PowerPoint (PPT) Presentation, PPT Lab
OVERVIEW
PPT Lab is a presentation design firm specializing in business frameworks and PowerPoint templates. Our team is comprised of ex-consultants from McKinsey, E&Y, Bearing Point, and boutique consulting firms. We have worked with hundreds of clients globally, ranging from mid-size manufacturing companies to global Fortune 500 conglomerates. [read more]
Ask the Author a Question
This document is available as part of the following discounted bundle(s):
Save %!
Product Strategy
This bundle contains 3 total documents. See all the documents to the right.
Product Strategy Product Launch Strategy Innovation Management Positioning Product Lifecycle Pricing Strategy Go-to-Market Strategy Development Pyramid Principle Communications Strategy Presentation Development Product Management Maturity Model Corporate Culture Behavioral Strategy Strategic Analysis Platform Strategy APQP Quality Management & Assurance Psychology Performance Management Business Model Innovation Social Media Strategy Business Model Design Business Framework PowerPoint Diagrams Growth Strategy Porter's Five Forces Mobile Strategy Cyber Security Customer Experience Business Transformation Digital Transformation Financial Modeling Business Case Development Business Case Example Marketing Plan Development Product Adoption Change Management
Download our FREE Organization, Change, & Culture, Templates
Download our free compilation of 50+ slides and templates on Organizational Design, Change Management, and Corporate Culture. Methodologies include ADKAR, Burke-Litwin Change Model, McKinsey 7-S, Competing Values Framework, etc. |