The World's Best Book Summaries
What are some barriers to innovation? How can organizations overcome these obstacles to innovation? Barriers to innovation are related to the ability to adapt to markets and move up or down. An innovative product needs to be able to position itself well and evolve. Read more about barriers to innovation and how they can be addressed.
What are Hooked marketing skills? How do Hooked marketing skills build on user habits? Hooked marketing strategies start with a consideration of user habits. Then, you use the Hooked model to build out a product with a trigger, action, reward, and investment. Read on for questions and exercises to help you implement Hooked marketing strategies.
What is unrealistic optimism? Is it problematic? Unrealistic optimism is the way that people assume that things will work out in their favor. Even when probability indicates otherwise, people usually believe they’re the exception. Read more about unrealistic optimism and how it affects decisions.
What are some Nudge techniques? How do Nudge techniques use the heuristics and biases people have? Nudge techniques are used to correct bad decisions made automatically by people. These automatic decisions are made as a result of heuristics. Read on to learn about the heuristics corrected by Nudge techniques.
What is priming and what is the priming effect? How does priming affect decisions? Priming is influencing a person to make a certain choice before they have to make it. By making statements or asking questions, you “prime” the person for the result you want. So, what is priming? Read on to find out.
How do disruptive projects handle unknown markets? Is it possible to prepare for something you have no information on? Disruptive projects are often uncharted territory. They are disruptive precisely because they are new and not what consumers are used to. Read more about how disruptive projects can manage the lack of information.
What is the Hooked model? How does the Hooked model explain consumer habits? The Hooked model is a model of habit formation that is a 4-step loop. The four steps are trigger, action, reward, and investment. Read more about the Hooked model.
What is the anchoring and adjustment bias? How does it impact your decisions? The anchoring and adjustment bias takes something you know and adjusts it to estimate what you don’t know. The “bias” comes from the way that what you know skews your estimation. Read more about the anchoring and adjustment bias.
What is the conformity bias? How does the conformity bias hurt your decision making? The conformity bias is the way people follow what others are doing instead of making their own decisions. It comes from social influence and is related to groupthink. Read about the conformity bias and its effects in different settings.
What are variable rewards? How do they differ from fixed rewards? Variable rewards are an unknown effect from performing an action. In contrast, a fixed reward is a known result. With variable rewards, the psychology of rewards shows an excitement that comes from not knowing. Read more about variable rewards and how they can help your product.