L 4 eager sellers stony buyers

L 4 eager sellers stony buyers - ? Is It Good to be New?...

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Understanding Customers: Eager Seller and Stony Buyers If you make a better mousetrap, the world will make a beaten path to your door?
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New Product Failures A lot of new products do not sell Webvan Segway scooter Tivo’s DVR
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New Product Failures Are they bad ideas? Do they provide new benefits? Why do customers not buy?
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The Psychology of Gains and Losses Perceived value Reference point Gains and losses
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The Psychology of Gains and Losses The endowment effect Status qua bias
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Innovation and Behavior Change Innovation involves trade-offs Electric cars Segway scooters Online grocery shopping Ebooks Customers overvalue loss It is not enough to simply be better
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Companies and Behavior Change Executives are also biased
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Is It Good to be New? Product newness Product Sales
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Unformatted text preview: ? Is It Good to be New? The tension between new benefits and behavior change Product newness New benefits/ Product change Behavior Change + + Product Sales + _ How to Improve Adoption? Balancing Product and Behavior Change What kind of change are you demanding the customers? How to Improve Adoption? Accepting resistance Be patient Strive for 10X improvement Eliminate the old Minimizing resistance Make behaviorally compatible products Find believers How to Improve Adoption? Vertical vs. horizontal collaboration The story of screw cap wine closures Horizontal collaboration is suitable when diffusion of innovation is an industry-wide common goal. Marketing strategy How to Improve Adoption?...
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This note was uploaded on 10/07/2011 for the course MKTG 475 taught by Professor Shaojiecui during the Fall '11 term at Ill. Chicago.

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L 4 eager sellers stony buyers - ? Is It Good to be New?...

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