The central tenet of innovation has long been that if you build a better product and communicate the benefits, consumers will flock to that new introduction (assuming you effectively execute the 4 Ps of marketing). As a result, and not surprisingly, companies have focused their innovation efforts on the development, optimization and communication of those new product benefits.
What’s missing from this equation is a consideration of the psychological barriers that hold us back: inertia, the status quo bias and perceptions of negatives in the new introduction relative to the current. It’s difficult for consumers to leave the past behind – whether the relationships are with people or products / brands. And the bigger the change, the more difficult it is for consumers to break from the past.
Please join social psychologist Colin Ho, head of Ipsos Marketing’s US statistical team, and Brad Bane, the US COO, for a complimentary webinar as they discuss the relevance of behavioral economics to new product adoption and the way we approach research to gauge interest in new products. During their presentation they will demonstrate:
- Why it’s important to understand consumer relationships with their default (current) option
- How inertia/status quo bias/negative perceptions interfere with the message of new product benefits
- Ways to leverage this information to craft concepts that are more appealing to consumers
- Changes required in our concept testing surveys to better capture the appeal of new products and overcome the barriers to giving up current solutions
Register today. Space is limited.
Webinar Date: Thursday, November 5, 2015
Duration: 30 minutes