4 Posts found for Author: Niraj Dawar

No consumer can absorb, interpret, store, recall and use all of the information available, not even all the relevant bits. This imbalance between available information and available mental processing and storage capacity gives rise to a necessary principle of scarcity. Without it, there would be no need for firms to compete for awareness and privileged positions in the consumer’s mind.

A direct corollary of limited capacity … [ Read more ]

Content: Quotation | Author: Niraj Dawar | Source: Ivey Business Journal | Subjects: Customer Related, Marketing / Sales

When customers … come across a new product, their cognitively economical approach is to try to classify it, to sort it into a familiar bin or category, so they can make sense of it in familiar terms. If they can do this, they can efficiently apply existing knowledge. For example, coming across a bean bag for the first time, a customer might be confused. But … [ Read more ]

Content: Quotation | Author: Niraj Dawar | Source: Ivey Business Journal | Subjects: Customer Related, Marketing / Sales

Why do your customers buy from you rather than from your competitors? If you think the answer is your superior products, think again.

Products are important, of course. For decades, businesses sought competitive advantage almost exclusively in activities related to new product creation. They won by building bigger factories, by finding cheaper raw materials or labor, or by coming up with more efficient ways to move … [ Read more ]

Content: Book | Author: Niraj Dawar | Subject: Marketing / Sales

Companies that understand the stages of consumer purchasing decisions have an outsized influence in their outcome.

Editor’s Note: this article strikes me as a bit of Marketing 101 material, which might make sense as it is written by a professor. It’s not bad, but a bit more generic than what is usually published at s+b.

Content: Article | Author: Niraj Dawar | Source: strategy+business | Subject: Marketing / Sales