behavioral economics
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Behavioral Economics in Product Management to Optimize Positioning and Customer Decision-Making
Behavioral Economics in Product Management merges concepts from psychology and economics to better understand how customers make decisions in practical situations. Applying these concepts involves a range of approaches and strategies that Product Managers should have a general understanding of to maximize their product positioning. Choice Architecture: Guiding Without Confining Choice architecture is the way… Continue reading
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Unveiling the Psychology Behind Customer Decision Making
Traditional market and customer research, such as IDIs, surveys, and focus groups, often focuses on gathering data about customers’ general preferences and behaviors. While this information is valuable, it can tend to be limited to more surface-level information on what influences customer decision making. Understanding Customer Psychology To gain deeper insights, Product Managers can benefit… Continue reading
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