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    Making Stickk Stick: The Business of Behavioral Economics

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    deepanshu singh
    StickK is a company launched in 2008 that is inspired by behavioral economics. It allows users to set goals and provides tools to help achieve them. While StickK currently uses a business-to-consumer model, it is considering shifting to also pursue business-to-business deals. An evaluation using the EAST framework recommends continuing the B2C model to acquire more market share, as it is easier, more attractive, social, and timely for customers compared to a B2B model. An action plan suggests StickK focus on existing and new B2C deals for now and reevaluate pursuing B2B customers in the long run after the company has grown.

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    Making Stickk Stick: The Business of Behavioral Economics

    Uploaded by

    deepanshu singh
    259 views6 pages
    StickK is a company launched in 2008 that is inspired by behavioral economics. It allows users to set goals and provides tools to help achieve them. While StickK currently uses a business-to-consumer model, it is considering shifting to also pursue business-to-business deals. An evaluation using the EAST framework recommends continuing the B2C model to acquire more market share, as it is easier, more attractive, social, and timely for customers compared to a B2B model. An action plan suggests StickK focus on existing and new B2C deals for now and reevaluate pursuing B2B customers in the long run after the company has grown.

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    stickk (1)

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    StickK is a company launched in 2008 that is inspired by behavioral economics. It allows users to set goals and provides tools to help achieve them. While StickK currently uses a business-to-consumer model, it is considering shifting to also pursue business-to-business deals. An evaluation using the EAST framework recommends continuing the B2C model to acquire more market share, as it is easier, more attractive, social, and timely for customers compared to a B2B model. An action plan suggests StickK focus on existing and new B2C deals for now and reevaluate pursuing B2B customers in the long run after the company has grown.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    259 views6 pages

    Making Stickk Stick: The Business of Behavioral Economics

    Uploaded by

    deepanshu singh
    StickK is a company launched in 2008 that is inspired by behavioral economics. It allows users to set goals and provides tools to help achieve them. While StickK currently uses a business-to-consumer model, it is considering shifting to also pursue business-to-business deals. An evaluation using the EAST framework recommends continuing the B2C model to acquire more market share, as it is easier, more attractive, social, and timely for customers compared to a B2B model. An action plan suggests StickK focus on existing and new B2C deals for now and reevaluate pursuing B2B customers in the long run after the company has grown.

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    Making stickK stick: The

    Business of Behavioral
    Economics

    By group A2
    Akhil S 1911015
    Ayushi Singh 1911049
    Deepanshu Singh 1911076
    Narendra Mane19110
    Riya Mandlekar 1911207
    Vivek Rawat 1911300
    5C’s Framework
    ● Company
    ○ Launched in 2008
    ○ Inspired by behavioural economics
    ○ Simple, logical 4-step sign up process
    ○ Received funding of $ 2.2 mn
    ● Customer
    ○ Individual, Corporates
    ● Competitors
    ○ Websites that allow users to set goals and provided tools for achieving these goals. Eg: SparkPeople,
    PEERtrainer, Virgin Pulse, HealthyWage, Keas
    ● Collaboration
    ○ Trusts and other charity organisations
    ● Context
    ○ Anti charity
    ○ Social health conscious customers
    ● Decision Problem
    ○ Whether to move from a tested business model to a
    new business model

    ● Alternatives
    ○ Accept B2B deals
    ○ Continue with current plan of B2C

    ● Framework used
    ○ E.A.S.T Framework (Easy, Attractive, Social, Timely)
    Evaluation of Alternatives-
    EAST Framework
      B2B B2C
    No Yes
    Easy (Private label website need additional work for every (Simple, logical 4-step sign up process already
    business) in place)

         
    No Yes
    Attractive (Obligations by company) (Self-driven consumer, optional stakes)

         
    Yes Yes
    Social
    (Supporters and social media connect) (Better supporters and social media connect)
         
    No Yes
    Timely
    (Depend upon business decision) (New year resolutions, Personalised goals)
    Recommendations

    ● Continue with B2C model to acquire bigger market share


    ● Focus on existing and new B2C deals
    ○ People are signing the contract because they want to achieve that thing
    ○ B2B is a push while B2C is pull
    Action Plan

    To work in a B2B scenario they need a larger work force and additional operational
    cost. Targeting B2B customer in a long run(after 3 years) will be better option when the
    company has grown.

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