Psychology of Product Adoption
Last Updated 01/2017
English
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46 min! Run Time
46 min! Run Time
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Employees
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No Certificate
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Provided
Skills covered in this course
Description
This 46-slide PowerPoint examines why most new products fail and what the psychology of adoption reveals about launching successfully.
What this course covers:
- Prospect Theory, the Endowment Effect, and Loss Aversion
- Give and Get Dynamics and the Innovator's Curse
- The Product-Behavior Value Matrix
- Six Product Launch Strategies distilled from these concepts
For product managers and marketers who want more of their launches to stick.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
What Is Flevy?
Flevy develops management training guides of the same caliber as those produced by top-tier management consulting firms, like McKinsey, Bain, Accenture, BCG, and Deloitte. In fact, our authors include ex-consultants from all these firms. Most of our materials were developed by seasoned executives and consultants with 20+ years of experience.
Psychology of Product Adoption
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Psychology of Product Adoption (860 KB)
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Frequently Asked Questions
This course is designed for employees who need to complete Psychology of Product Adoption training
Yes. This course is designed to meet applicable federal requirements and commonly mandated state standards. Always confirm specific state or industry requirements with your local regulations.
The course takes approximately 46 minutes to complete and can be paused and resumed at any time.
No. This course does not include a certificate of completion.
Yes. You can assign this course to individuals or groups using Coggno’s LMS, or purchase multiple seats for your team.
Yes. This course can be exported for delivery in most learning management systems (SCORM compatible).
Yes. The course is fully self-paced and available 24/7.
Yes. This course includes a knowledge check to reinforce learning and verify completion.
Learners have lifetime access from the date of purchase.
Yes. A preview is available so you can review the course format and content before purchasing.
Yes. Content is reviewed and updated as regulations and best practices change.
No. This course is not included with the Prime Subscription and must be purchased separately.
Yes. Refund requests can be submitted within 30 days of purchase.
This is a 46-slide PowerPoint.
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.