Managerial Communication
-
Upload
nishidhlad17 -
Category
Education
-
view
284 -
download
4
description
Transcript of Managerial Communication
![Page 1: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/1.jpg)
NISHIDH VILAS LAD – 2013176NITESH BERIWAL – 2013177NITESH SINGH PATEL – 2013178NITIN BORATWAR – 2013179NITIN KUMAR SHUKLA – 2013180NOOPUR MANDHYAN - 2013181
EAGER SELLERS STONY BUYERS: Understanding the Psychology of New-Product Adoption
Many innovations fail because consumers irrationally overvalue the old and companies irrationally overvalue the new By JOHN T. GOURVILLEText Reference: Source: Harvard Business Review
![Page 2: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/2.jpg)
Learning Objectives
Introduction Psychology of gains and losses Building a behavioural framework Balancing products and behaviour
changes Accepting resistance Minimising resistance
![Page 3: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/3.jpg)
Potentially Successful?
Webvan Online Grocery business
Segway Scooters
Colgate’s kitchen entrees
DIVX
![Page 4: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/4.jpg)
Questions
Consumer’s perspective
Producer’s perspective
![Page 5: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/5.jpg)
The Psychology of Gains and Losses
Subjective or perceived value rather than objective
Evaluation relative to a reference point Improvement as gains and shortcomings as
losses Loss aversion
![Page 6: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/6.jpg)
![Page 7: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/7.jpg)
![Page 8: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/8.jpg)
Building a behavioral framework It is built around 3 entities:
BUILDING A BEHAVIOURAL FRAMEWORK
NEW PRODUCT
OR TECHNOLOG
YCHANGE
CONSUMER WHO MUST ADOPT IT
COMPANY THAT
DESIGNS IT
![Page 9: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/9.jpg)
Innovation and behaviour change
![Page 10: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/10.jpg)
BALANCING PRODUCT AND BEHAVIOR CHANGES
1.Easy Sells
2.Sure Failures
3.Long hauls
4.Smash hits
![Page 11: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/11.jpg)
BALANCING PRODUCT AND BEHAVIOR CHANGES
![Page 12: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/12.jpg)
Accepting Resistance
Be Patient:
Strive for 10x Improvement:
![Page 13: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/13.jpg)
Contd.
Eliminate the Old:
Seek out the Unendowed:
![Page 14: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/14.jpg)
MINIMIZING RESISTANCE
Difficult to get 10X Improvements
Make behaviorally compatible products
Find believers
![Page 15: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/15.jpg)
The Toyota Way of Minimizing Resistance
![Page 16: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/16.jpg)
Apache RTR 180 & It’s Mudguard Innovation
![Page 17: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/17.jpg)
Conclusion
Businesses need to understand the psyche of consumers
Quick response to consumer behavior
Without it, the innovations will continue to fail
![Page 18: Managerial Communication](https://reader034.fdocuments.us/reader034/viewer/2022042813/54837f16b4af9ff6468b479a/html5/thumbnails/18.jpg)