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Showing posts from August, 2019

Systems 1, 2, and 3 – the Paradigm of Consumer decision making

Businesses rise and fall based on consumer decision. When clients decide to buy, businesses thrive. They also stagnate or crash accordingly when sales begin to slow. These truths are known and have been a fact of doing business since the modern concept of the industry was conceived. The question behind  why  customers decide to make a purchase and  when  that decision happens, however, has been considered something of an unknown variable that made determining the best strategy to use when building a brand difficult. This is especially true when evaluating consumer behavior using “system 1” and “system 2” as the only two means through which analysis occurs. There is another system of decision-making that plays an even more important role in decision-making – system 3. In order to understand how system 3 impacts business, it’s important to first understand the fundamentals of each of the three systems and how they fit into this systemic paradigm of consumer behavior. The diagram

“Do it, don’t do it, or do it in a different way”the Philosophy behind UX research

One of the most important aspects of business today, especially as more of it is increasingly conducted digitally, is the user experience. A user’s experience is important to your business on many different levels, but you might be surprised at what that experience includes. If you rely on your website or mobile app to sell your products or services, for example, it makes sense that user experience would be vital to your success. What many people don’t consider, however, is that user experience actually goes far beyond a single channel. You need to craft a positive user experience from the time a user first hears about your business to well after they’ve received their product or service, and that’s true for businesses in many different industries. But how do you know what your users will appreciate and how to create an experience that impresses them? Well, that’s where UX (user experience) research comes in. What is UX research? UX research is systematic exploration

Beyond Market Research - Quantitative is a puzzle and Qualitative is a mystery

Many people believe they have a great idea for a business, but very few actually understand what it takes to move forward and create a successful organisation. This is due in large part to the importance of research when it comes to marketing and sales. Even great products and services can be overlooked due to poor marketing, and in a society where the marketplace has gone global and is full of competitors, there are plenty of alternatives. What sets certain businesses apart from the rest? Some would say “luck”, and while that might certainly play a small role, the more accurate response is “research”. Market research, more specifically, is vital to growth and success. As its name suggests, this form of research is conducted to determine information about a business’ market. This is done a few different ways with the options generally falling into the qualitative or quantitative research categories. These research methods differ in a few distinct ways and it’s important to

Homophily - a natural human behavior and its relevance in consumer decision making

As the internet grows more pervasive and vital to the daily lives of billions of people across the globe, business owners and marketers alike are constantly searching for innovative ways to effectively tap into new markets. Looking at consumer relationships and how they affect purchasing behavior, then, is a logical step to take. Homophily and how it affects consumer decision making is an important concept to understand in order to create the most effective marketing campaign possible.  What does “homophily” mean? Put bluntly, homophily is the tendency that people have to be drawn to be with similar interests and values as themselves. This is something seen throughout various cultures and in varying situations. People tend to seek out individuals who are similar to them in some way. They forge connections with those individuals and might continue looking for even more people with whom to connect. The internet, with its wealth of social media platforms, has made homoph

Follow Nudge theory, do wonders in innovation

I am fascinated with the nudge theory and always follow when we do open innovation. It's not a disruptive innovation method. It is using for training without forcing change; for example, hiding soft drinks from the visibility of consumer and place water in a store shelf is based on nudge theory, its objective is to reduce soft drinks consumption. Another interesting example is, Men may notice a fly in the male urinal in public toilets. Men tend to point towards something during urination. How it benefits? Cleaning companies are saying that the use of cleaning liquids was reduced by 80% due to less spill over. Psychologists developed nudge theory for social reformation. We can see a lot of examples in our surroundings. Nowadays it has relevance in a business context while experimenting in open innovation  By  Thomas George , Director of DoWell Research GmbH Enhancing innovation by crowdsourcing and co-creation with users in product/service design, Open i