In the reading, Gourville underscores the challenge of balancing innovation and buyer resistance. The first way that product managers can address this issue is by understanding buyer behavior and the reasons behind their resistance. Buyers often overvalue the benefits of their current solutions, so it is essential to understand why they are resistant to change and what they value in their existing products.
Furthermore, product managers can also minimize loss aversion which psychologically makes buyers resistant to change. Product managers can reduce resistance by emphasizing how a new innovation will minimize potential losses while highlighting how much customers will benefit from the innovation.
Another strategy is to introduce a tiered pricing strategy to slowly introduce innovation. In offering both the original and innovative versions of the product, with the innovative one being more expensive, buyers can given the choice to choose which product version they want. With free trials, buyers can be gradually convinced to embrace the innovation since they act as a safety net for hesitant buyers.
Instead of introducing a whole new product, product managers should also consider launching the same product with slight tweaks in features or add-ons. These new additions can be accepted over time by the buyer, allowing buyers to ease into the new product and reduce their initial fear of risk.
Finally, quality marketing and branding can also reduce resistance to new products. For example, if a new product were scientifically backed up by benefits and buyers were made aware of them, this will likely reduce buyer resistance in building ethos. Another strategy to build trust can be tailoring different products to different buyer segments. If the buyer perceives that the product is more aligned with their needs, the product will suddenly become more buyer-friendly.
