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12 Cards in this Set
- Front
- Back
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example of pr(conversion)..camping
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– If probability of converting Sandy Hill loyalists is more than
5x higher than the probability of converting Day Camp loyalists, then it makes sense to steal share from Sandy Hill • Assuming that once they convert, they behave the same |
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with acquisition we are more _________ (flexible or not flexible)
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flexible
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with retention we are more _______ (flexible or not flexible)
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not flexible
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When assessing pr(conversion), will often as Qs such as:
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how likely or unlikely would you be to try a Canadian candy bar in the US?
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Measuring intentions is _____
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wrong and inaccurate
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The mere measurement effect
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Also known as the question‐behavior effect
• People who are asked to state intentions to perform socially acceptable/desirable behaviors are subsequently more likely to engage in those behaviors than people who are not asked to state intentions • e.g., in a sample of over 40,000, asking a simple question about purchase intent increased pr(buying a car) in the following 6 months by 35% |
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Measure willingness to pay
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• pr(conversion) often depends at least partly on price
• How do we know how much consumers will be willing to pay? – Survey measurements of willingness to pay are common |
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Anchoring effect in mere measurement
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writing down the last digits of your ss number..will pay more for truffles just based on anchor..how likely is it for you to floss 7 times a week? instead of 2
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number of people we're focusing on is constrained by our
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strategic quadrant
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identifying your category is more complicated when pursuing your
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acquisition marketing objective
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people who change their behavior is:
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a subset of people who change their beliefs
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Beware the suggestive weight of
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arbitrary anchors
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