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DOCUMENT 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 [email protected] or ask the author directly by using the form to the right. If you cannot view the preview above this document description, go here to view the large preview instead.

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Psychology of Product Adoption

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File Type: PowerPoint (ppt)

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Number of Slides: 46 (includes cover, transition, & marketing slides)

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Initial upload date (first version): Apr 28, 2013

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