5 ms·
Just a short summary: In Marketing and Strategic Management this effect is called the 9X effect. It stipulates, that you underestimate the power/usefulness of
by mkuhn 17y ago
Just a short summary:
In Marketing and Strategic Management this effect is called the 9X effect. It stipulates, that you underestimate the power/usefulness of a new product 3 times and overestimate the old product 3 times as well. This means a new product has to be ten times better to be successful.
As you mentioned, underlying to this whole thing is, that most people are change averse and therefore resisting it. Only around five percent of people truly like change (early adopters). All the others have to be forced to use something new.