Lecture #4 Network Effects & Gamification Flashcards Preview

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Flashcards in Lecture #4 Network Effects & Gamification Deck (17):
1

What is MCD core competency

replicable systems

2

What should incentives support

kpis

3

What does gamification provide an incentive for?

customer action or retention or loyalty

4

Good gamification does not start with game elements but starts with our...

core drives

5

What are exapmles of core drives

meaning, accomplishment, ownership, scarcity, avoidance, unpredictability, social influence, empowerment

Diff games appeal to diff core drives

6

What are the 5 steps in developing a gamification strategy?

1 use bus metrics to define the objective 2 define users/players 3 define desired actions and the winstate 4 define feedback trigggers 5 define incentives/drives

7

What is Metcalf's law

it says that the value of a network grows with the square of its users

8

What are complementary benefits

a characteristic of network effects that says that related products add value to a base product by adding complemtary benefits ( games for XBOX)

9

What is Exchange value

a tyope fo network effecgt that refcers to the amount of people yiu can interact with while using it (ex World of Warcraft)

10

What are congestion effects

negative network effects that occur when too many users bottlneck a resouce and crash it or increase waittimes

11

Whatare one sided markets and two sided markets

one sided- derive most of value from one class of users (email)
2 sided- two classes of users create value (ex:ebay, Xboxplayers and gamedevelopers)
also there are same side and cross sided benefits

12

What is a tipping point & what do they cause

a point where the network effects crown a winner in a market, cause a mad dash at the beginning to caputre market share

13

How do you make sure that you are the person that reached the tipping point first and wins?

move early(ipodvZune)
Subsidize Adoption (Google subsidized andriod app dev & MSFT Biz spark)
MAke product alliances

14

Open vs closed/propreitary pros & cons

proprietrary insures total control, but restricts ownership, open standards allow for more user base expansion

15

What are the 3 sources of value for network effects

exchange value, staying power(switchingcosts) compleentary benefits

16

Why are network effects not bad for innovation?

encourages developmetn within the standard and allows for a degree of consistency for sharing and cooperation

17

What is the Osbourne Effect?

future product promises cannabalize existing product sales