Too many organizations don’t know what customers really want! They blindly undertake research and then wonder why the rest of the organization ignores it. Colin Shaw & Professor Ryan Hamilton discuss why this is the case and what organizations should be doing to ensure success.
Diminishing Sensitivity is part of Prospect Theory. This refers to customer sensitivity to further changes based on where they have started. What are the implications for business, customer experience and designing and delivering experience?
Didn’t Blockbuster, Kodak and Circuit City see the end was in sight? Why did they not change? Too many people reject new thinking that will improve their Customer Experience. Why? What is it about human behaviors that does this? In this podcast Colin Shaw and Professor Ryan Hamilton will debate why this is the case and what you should do about it.
Colin Shaw and Professor Ryan Hamilton discuss why Customers need ‘Reference Points’. This is part one of a fundamental behavioral economics theory called Prospect Theory ? It looks at how human decision making is effected by a reference point that a Customer uses to evaluate a Customer Experience and what you should do about it.
Colin Shaw and Professor Ryan Hamilton discuss why customers often focus on seemingly unimportant things and how these thing can in fact be the most important. Classic research from the University of Chicago shows that customers tend to focus on product details or attributes that have nothing to do with the true value, but have a great deal of influence on customer perception and experience.