In this post you’ll learn the answers for the questions: what is the pro innovation bias? and how can it affect purchase decisions?
Our biases as explained on the post “what is a cognitive bias?” give us the ability to make decisions quickly at the cost of accuracy. The more biases we rely on to make a certain decision, the greater the chances that the decision will not be accurate. One set of decisions we are always confronted with are the products and services we consume. There are thousands and thousands of products we can choose from in the various niches that affect our lives. Look at the personal computer industry for example. No longer than a few decades ago, the number of possible computer brands was limited and now there are so many that we can easily get overwhelmed by the variety in prices and sizes alone. To cope with this much variety, our brain has a set of strategies to pick the “possibly better” option. One of them is the pro innovation bias.
What Is The Pro Innovation Bias?
The pro innovation bias is the tendency of people to overvalue an innovative product’s qualities, while underplaying its limitations. In other words, we just tend to look at anything that looks innovative with better eyes, in the same way a parent does with its kids. The flaws are overlooked, while the positive aspects get greater publicity. For a person with a product to promote, this bias could be explored by framing the product as an innovation, rather than just a mere improvement of whatever already exists. Sentences like: “we are better than so-and-so…” are less preferable than “This product is a result of a ground breaking discovery…”.
So in essence, a product that brings to mind the idea of innovation is more likely to be overestimated. The dark side of innovative products is that the more innovative they are, the more likely they are to also be rejected because of the novelty. This is an example of how innovation can trigger the famous conservatism bias. The ideal product should be innovative enough to be clearly distinguished from whatever exists on the market, but conservative enough to avoid been seen as something bizarre.
It is all about knowledge and experience;)
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