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Customer Journey Mapping

In our podcast episode, The Role Of The Entrepreneur, Per Bylund stresses the importance of starting the entrepreneurial process with the customer in mind. There are many techniques to help you formalize the consumer-first process, and one particularly useful one is Customer Journey Mapping (sometimes called Customer Experience Mapping). This technique decomposes a customer’s purchase […]

Rokeach’s Values

The Use Of Terminal And Instrumental Values In Understanding Consumer Motivations. Economists know that consumers make purchase decisions in the context of their subjectively held values. Each individual holds different values. They all have a hierarchy of values – some are more important to them than others – and this internal hierarchy determines how they […]

The Means-End Chain

What is the Means-End Chain Tool and How Should You Use It? Economic principles can be used in business through applications that we refer to as tools. The Means-End Chain tool is an example of a tool that we talked about in Economics for Entrepreneurs Episode 1 with Peter Klein. Customers and consumers act with […]