Let’s look at an example of an e-commerce clothing company looking to reduce the return rate of their items. We know from the industry context that the issue could be from Buyer (demand), Seller (supply) or exchange (product). Let’s consider the reason for return majorly is that first time buyers are buying the wrong size. From the product stage this is an Activation problem.
Now applying how the brain works, we understand users ordering a size they usually order is a status quo bias. They aren’t paying attention to the size chart
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A new way to think about product management using concepts of cognitive science and human psychology
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