Is this a problem that huge swaths of the population face or will face at some point in their life?
We think about both of these dimensions when deciding how excited we might be about a potential investment.
When we think horizontally about companies redesigning the Everyday Economy, we tend to look at two dimensions: The first is the habitual nature of a product or service.
Is this a company that consumers or business users interact with nearly every single day?
a problem-solving process in which consumers are not motivated to search for information or to rigorously evaluate each alternative; instead they use simple decision rules to arrive at a purchase decision.: an elaborate decision-making process, often initiated by a motive that is fairly central to the self-concept and accompanied by perceived risk; the consumer tries to collect as much information as possible, and carefully weighs product alternatives.
Habitual problem solving is when the consumer relies on past experience and learns to convert the problem into a situation requiring less thought.
Because consumers are buying based on brand familiarity, marketers must use ad repetition to build brand familiarity instead of brand conviction.
Unless you are actively cooking as a hobby (or a profession), you just need some pepper to throw into your mac-and-cheese or season the mashed potatoes on your plate.
As we’ve detailed in prior posts, our investments at Next View are increasingly focused on a theme we call the Everyday Economy.
We believe that the internet is a super-technology, and are most excited about the second-order effects that this super-technology will have on everyday life for everyday people.
Theh consumer has a strong preference for the brand to buy and the retailer from which to purchase it.
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