I think the way product managers effectively balance the desire to innovate and introduce new features with the need to address buyer resistance is by truly doing research and understanding the market and need for the product. For instance, if the product already exists in the market, innovating might not as successful but providing a new feature that requires limited behavior change but improves the product should be the selected action. Similarly, if the product does not seem viable to buyers, they should either not pursue it or pursue production of the product cautiously so they don’t end up overselling the success of it and failing. On the other hand, if there is a product idea that seems valued enough and unique enough where it could be an innovative success, then product managers should chose to be more risky and take the route of innovation. I think strategies to focus on this include doing lots of research, asking customers what they want, and acting based on intuition.
I think the idea of loss aversion plays into buyer resistance as if people are have something they know and love, they are less willing to try out or switch to another product they have no prior experience with. In terms of product, this means that loss aversion can play into buyer resistance of not wanting to try a new product. I think product managers need to use this to make product features as seamless of a transition as possible. It must be subtle enough where the user barely notices or it does’t change the product too much, but at the same significant enough where it does add to the product or the user experience.
Feature creep is when features are gradually pushed to a product or service. The potential negative impact of feature creep is if the product is only ever gradually improving, it could be less competitive or desirable to customers. If other products are updating more rapidly or new products are coming out that are more advanced, its slow improvement could hinder its success. I think product managers could avoid this while still addressing demands by trying to accumulate new small feature changes so they in total still are going out but to the user maybe seen more drastic in terms of development. For instance, how iPhone versions constantly come out with new updates and new features every year, it allows for the product to keep users engaged while not being too negative of a feature creep.
