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A Step-by-Step Guide to Smart Business Experiments (Spanish version)
Anderson, Eric T.; Simester, DuncanArticle HBS-R1103HMarketingTake one action with one group of customers, a different action (or no action at all) with a control group of customers, and then compare the results. The feedback from even a handful of experiments can yield immediate and dramatic improvements. In this article, the authors provide a step-by-step guide to conducting business experiments. They look at organizational obstacles to success and outline seven rules to follow.Starting at €8.20
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A Step-by-Step Guide to Smart Business Experiments
Anderson, Eric T.; Simester, DuncanArticle HBS-R1103H-EMarketingThe power of analytics in decision making is well understood, but few companies have what it takes to successfully implement a complex analytics program. Most firms will get greater value from learning to do something simpler: basic business experiments. Managers need to become adept at routinely using techniques employed by scientists and medical researchers. Specifically, they need to embrace the "test and learn" approach: Take one action with ...Starting at €8.20
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Escaping the Discount Trap (HBR Case Study and Commentary)
Anderson, Eric T.Article HBS-R1309L-EMarketingBrazilian medical-devices maker Bosi e Faora has seen its prices decline as its sales reps scramble to sign up clinics by offering steep discounts. The company aims to turn things around with a "solutions" strategy that, along with medical equipment, offers ideas and training to health care providers that want to improve patients' overall health, not just purchase hardware. When one semirural but influential customer resists the upsell at a high-...Starting at €8.20
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Escaping the Discount Trap (HBR Case Study)
Anderson, Eric T.Article HBS-R1309X-EMarketingBrazilian medical-devices maker Bosi e Faora has seen its prices decline as its sales reps scramble to sign up clinics by offering steep discounts. The company aims to turn things around with a "solutions" strategy that, along with medical equipment, offers ideas and training to health care providers that want to improve patients' overall health, not just purchase hardware. When one semirural but influential customer resists the upsell at a high-...Starting at €8.20
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Escaping the Discount Trap (Commentary for HBR Case Study)
Anderson, Eric T.Article HBS-R1309Z-EMarketingBrazilian medical-devices maker Bosi e Faora has seen its prices decline as its sales reps scramble to sign up clinics by offering steep discounts. The company aims to turn things around with a "solutions" strategy that, along with medical equipment, offers ideas and training to health care providers that want to improve patients' overall health, not just purchase hardware. When one semirural but influential customer resists the upsell at a high-...Starting at €8.20
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The Power of the Default, or Why We Stick With the Status Quo
Kochanowska, Ewa; Reutskaja, ElenaTechnical Note MN-415-EDecision Analysis, MarketingThe note is an introduction to one of the most common tolls of choice architecture: defaults. The note explains what defaults are, why they are important to understand, how and why defaults work.Starting at €8.20
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Temporal Discounting, or Why We Want Things NOW
Kochanowska, Ewa; Reutskaja, ElenaTechnical Note MN-414-EDecision Analysis, MarketingMany decisions in our lives are intertemporal in nature. Should I study for an upcoming exam or watch another episode of my favorite show? Should I spend my money on a new car or add it to my retirement savings? To make this type of decision, people need to make a tradeoff between two rewards (or two losses)?one available immediately and the other at some point in the future. Considering this can help students understand how people make similar d...Starting at €8.20
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How to Conduct a Good Experiment Online
Kochanowska, Ewa; Reutskaja, ElenaTechnical Note MN-416-EDecision Analysis, MarketingThis technical note provides brief explanation on how to run a good behavioral experiment online. It briefly discusses several important steps of running an experiment: research design, analysis plan, stimuli, programming of the experiment, participants, and data analysis and interpretation.Starting at €8.20