COMM 362 Lecture Notes - Lecture 25: Daniel Kahneman, Sustainable Products, Tivo
Document Summary
Comm 362 sections 101, 102 topics covered after midterm. Role of justification to self and others ( reason"-based choice) The importance of reference points they divide the range of outcomes into losses vs. gains. Loss aversion the loss curve is steeper than the gain curve, so a loss is more painful than a foregone gain. Implications for gambles, credit card surcharge, tax fairness, price fairness. Role of reference points, anchors, fairness, mental accounting, endowment effect, etc. The environmental situation: the person in the environment with goals in mind. Physical (spatial and non-spatial) and social (direct and vicarious) aspects of environment. Ways to shape the environment to influence cb. Project example: dave and busters (fun, food &drink) example: effect of scents on sales. Tivo case shows wom relevance to new products (see tivo classnotes) Trend setters; product life cycle curve (innovators, early adopters etc. ) (see earlier in persuasion)
