Tag Archives | product adoption

Consumer Decision Journey

The Consumer Decision Journey, sometimes also called the Customer Decision Journey, is a business framework developed by McKinsey & Co.  It describes the process a consumer goes through of making a purchase.  The Consumer Decision Journey proposes that the customer goes through four phases in a cyclical process. Each phase represents a potential marketing battleground [...]

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Prospect Theory

Prospect Theory is a behavioral economic theory that describes the way people chose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known. The theory states that people make decisions based on the potential value of losses and gains rather than the final outcome, and that people evaluate these losses and gains [...]

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