By Steven S. Posavac
Packed with good, actionable info and recommendation, this specific guide specializes in how wisdom of the foundations of purchaser psychology can be utilized to enhance managerial determination making and organizational functionality.
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Additional info for Cracking the Code: Leveraging Consumer Psychology to Drive Profitability
As a general rule, adoption will occur when a perceived relative advantage of an innovation is seen to outweigh any adoption hurdles (Montaguti et al. 2002). , related to switching technologies and price of the RNP) and cognitive costs (learning). The advantages of the innovation become clearer to consumers as more information about the RNP becomes available. After adoption, the role of marketing is to help in building brand equity for the RNP and differentiating the product from competitors (Sorescu et al.
Consumers who bought Toshiba’s HD-DVD players will probably need to eventually purchase a Blu-ray player since the formats are incompatible. These examples demonstrate that it may be difficult to convince consumers to adopt RNPs early, so marketers and engineers face the difficult task of convincing consumers that the RNP is safe and easy to use. Another challenge associated with RNPs is that the product category may be unclear because the item can be placed in more than one existing product class (Moreau, Markman, and Lehmann 2001).
1986. “But Is It Rigorous? ” New Directions for Program Evaluation 30: 73–84. Lynch, J. 1982. ” Journal of Consumer Research 9: 225–39. ———. 1983. ” Journal of Consumer Research 10: 109–11. ———. 1999. ” Journal of the Academy of Marketing Science 27: 367–76. McAlister, L. 2005. ” Journal of Public Policy and Marketing 21: 143–45. , and D. Wilson. 1995. Relevance: Communication and Cognition, 2d ed. Oxford: Blackwell. ———. 1997. ” Multilingua 16: 145–51. R. 2003. ” Journal of the Academy of Marketing Science 31: 368–76.