Business Viability
The potential for a project or solution to be economically sustainable and profitable. Important for ensuring that design and development efforts align with business goals and market demands.
19 topics found for:
“economic sustainability”
Viability Risk
The risk that the product will not be financially or strategically sustainable for the business, potentially leading to a lack of support or profitability. Essential for ensuring that the product aligns with business goals and can be maintained and supported long-term.
Attention Economy
An economic approach that treats human attention as a scarce commodity, focusing on capturing and retaining user attention. Crucial for understanding user engagement and designing products that effectively capture and retain attention.
Barriers to Entry
Obstacles that make it difficult for new competitors to enter an industry, such as high capital requirements, strong brand loyalty, or regulatory hurdles. Crucial for assessing the competitive landscape and the feasibility of entering a new market.
PESTEL Analysis
A strategic framework used to analyze the external macro-environmental factors affecting an organization: Political, Economic, Social, Technological, Environmental, and Legal. Essential for strategic planning and understanding market dynamics.
Hedonic Adaptation
The observed tendency of humans to quickly return to a relatively stable level of happiness despite major positive or negative events or life changes. Useful for designing experiences that maintain user engagement and satisfaction over time.
Bundling Bias
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately. Important for understanding user behavior and designing effective product bundles and pricing strategies.
STEEPLE Framework
Social, Technological, Economic, Environmental, Political, Legal, and Ethical (STEEPLE) is an analysis tool that examines the factors influencing an organization. Crucial for comprehensive strategic planning and risk management in product design.
Reward Substitution
A strategy where less immediate or tangible rewards are substituted with more immediate or tangible ones to encourage desired behaviors. Important for designing systems that leverage immediate incentives to promote long-term goals.
LTV
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship. Crucial for informing customer acquisition strategies, retention efforts, and overall business planning by providing insights into long-term customer profitability.
Crowding Out Effect
The phenomenon where external incentives diminish intrinsic motivation, leading to reduced performance or engagement. Important for designing motivational strategies that do not undermine intrinsic motivation.
Brand Equity
The value a brand adds to a product or service beyond the functional benefits, encompassing factors like brand awareness, perceived quality, and customer loyalty. Crucial for understanding the long-term value of a brand and its impact on business success.
Present Bias
A cognitive bias where individuals give stronger weight to payoffs that are closer to the present time compared to those in the future. Important for understanding user time-related decision-making and designing systems that encourage long-term thinking.
Nudging
The act of designing and implementing subtle interventions to influence behavior in a predictable way. Crucial for guiding user behavior effectively without limiting freedom of choice.
Moral Suasion
The act of persuading individuals or organizations to act in a certain way based on moral arguments or appeals. Useful for designing persuasive communications and ethical influence strategies.
Mid-Tier Value
A pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users. Useful for driving sales by presenting a balanced choice that appears more attractive relative to higher and lower-priced options.
Licensing Effect
A cognitive bias where people allow themselves to indulge after doing something positive, believing they have earned it. Important for understanding user behavior and designing systems that account for self-regulation.
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value. Important for making informed business and design decisions.
Reciprocity
A social norm of responding to a positive action with another positive action, fostering mutual benefit and cooperation. Important for designing user experiences and systems that encourage positive reciprocal interactions.