TEI 159: Don’t make the customer feel anxious. The failure of Crystal Pepsi

Global Product Management Talk is pleased to bring you the next
episode of... The Everyday Innovator with host Chad McAllister,
PhD. The podcast is all about helping people involved in innovation
and managing products become more successful, grow their careers,
and STANDOUT from their peers. About the Episode: No one and no
organization has a perfect record when it comes to releasing new
products into the market. Failures are frequent — around 40% or so
depending on the industry — and they happen at small companies, big
companies, and experienced companies, including Pepsi. In this
episode, you’ll learn a simple and profound concept that every
product manager and product marketer must understand. And, this is
an easy one to get wrong. Even Pepsi got this wrong when they
created a new product called Crystal Pepsi. The simple part of the
concept — don’t confuse your customer. The profound part — when
introducing something new or making a change, give your customer a
reason. My guest to explain this concept is Kyle B. Murray, the
Vice Dean and Professor of Marketing at the Alberta School of
Business. Kyle studies human judgment and decision making. His
research uses the tools of experimental psychology and behavioral
economics to better understand the choices that consumers make. He
is a co-author of an article explaining the mistake Pepsi made with
Crystal Pepsi. When I read the article I recognized how important
the concept is to product managers and contacted with Kyle to tell
us about it himself. In the discussion you will learn the: Reason
people didn’t purchase Crystal Pepsi.Solution to the issue so you
don’t make the same mistake.Examples demonstrating the solution.