I’ve completed my lesson plans for the Econ 201 class that I’ll begin teaching in a few weeks.
I’m particularly excited to teach a theory I’ve developed around the “conditioned consumer.” Buyers, particularly in the consumer space, have been conditioned to expect lower prices:
- Sale!
- Buy one get one free
- More for less
- Always low prices
- We pass the savings to you
- The internet free rider effect
- The open source community
The basic question all firms must ask is this: “How can we uncondition the consumer to pay higher prices?” The answer to this question will reveal their ability to satisfy Form (emotion jobs) and Function (core jobs).
Outcome Driven Innovation (ODI) approach to satisfying user needs can help you articulate functional and emotional jobs, but it cannot help you push through the maximum price ceiling for the job. See module #4 in my Econ 201 lesson plans for a further discussion of this topic.
