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Robert H. Hayes, William J. Abernathy

In the past 20 years, American companies have perhaps learned too well a lesson they had long been inclined to ignore: Businesses should be customer oriented rather than product oriented.

…At last, however, the dangers of too much reliance on this philosophy are becoming apparent.

…The argument that no new product ought to be introduced without managers undertaking a market analysis is common sense. But the argument … [ Read more ]

Content: Quotation | Sources: Harvard Business Review, Managing Our Way to Economic Decline | Subjects: Customer Related, Marketing / Sales

‘Reinforcing the Blockbuster Nature of Media’: The Impact of Online Recommenders

Online retailers may be shooting themselves in the tail — the long tail, that is, according to Kartik Hosanagar, Wharton professor of operations and information management, and Dan Fleder, a Wharton doctoral candidate, in new research on the “recommenders” that many of these retailers use on their websites. Recommenders — perhaps the best known is Amazon’s — tend to drive consumers to concentrate their purchases … [ Read more ]

Content: Article | Authors: Dan Fleder, Kartik Hosanagar | Source: Knowledge@Wharton | Subject: Marketing / Sales

Staying Power

Now that pricing is seen as a primary contributor to better performance, many companies are applying advanced technology and setting up new teams so they can price more effectively. But that’s not enough. Here’s how to make pricing a sustainable part of management’s strategic repertoire.

Content: Article | Authors: Greg Cudahy, Thomas G. Jacobson, Tiago L. Salvador | Source: Outlook Journal (Accenture) | Subject: Pricing

Quality Metrics Enable Marketing’s Ability to Influence Strategic Direction

Results from a recent survey found that only 17% of us indicated that our CEOs would give marketing an A. What’s more, this study and others continue to suggest that a gap remains between a company’s business goals and the metrics marketing uses to measure their impact on these goals.

The need and opportunity remains for marketing to improve the linkage between marketing expenditures and delivered … [ Read more ]

Content: Article | Author: Laura Patterson | Source: MarketingProfs | Subject: Marketing / Sales

Winning by Understanding the Full Customer Experience

Too often, industrial companies measure only the core product-related elements of their customers’ experience rather than the full range of interactions. So they lose customers without understanding why and also miss out on powerful opportunities to create value and cement customers’ loyalty. This article outlines a disciplined, impartial approach that can transform a company’s understanding of its customers’ experience from a set of general, possibly … [ Read more ]

Content: Article | Author: David Rickard | Source: Boston Consulting Group (BCG) | Subjects: Customer Related, Marketing / Sales

From Cool to Passé: Identity Signaling and Product Domains

The quest for cool is never-ending. Accountants rev up their Harleys to the dismay of hard-core bikers. Soccer moms trade in minivans for hipper Land Rovers. Yellow rubber wristbands appear instantly, then just as quickly disappear. There is a fine line between cool and not-so-cool — a topic explored in a new paper, Where Consumers Diverge from Others: Identity Signaling and Product Domains, by Wharton … [ Read more ]

Content: Article | Source: Knowledge@Wharton | Subject: Marketing / Sales

Jonathan Kranz

Trust is essential, especially in any complex purchase that can be intellectually intimidating. You have to establish trust before you can build a relationship. And you have to build the relationship before you can win real business.

You create credibility that leads to trust by doing three things: (1) demonstrating your empathy and understanding of the prospect’s concerns; (2) telling stories that illustrate your value to … [ Read more ]

Content: Quotation | Source: MarketingProfs | Subjects: Marketing / Sales, Trust

The Strategy and Tactics of Pricing: A Guide to Profitable Decision Making

A comprehensive, managerially-focused guide to formulating pricing strategy. Practical in focus and lively in style, this volume explains ideas and concepts that are essential to integrate pricing successfully into marketing strategy and that should be a part of every marketer’s repertoire. Features numerous walk-through examples, illustrating how companies successfully implement pricing strategies.

Content: Book | Authors: Reed K. Holden, Thomas T. Nagle | Subjects: Marketing / Sales, Pricing

If Brands Are Built Over Years, Why Are They Managed Over Quarters?

Wharton marketing professor Leonard Lodish admits he is somewhat to blame for the erosion in brand pricing power that has hit many consumer-goods companies — but not entirely to blame. In 1993, as store-level scanning data started to become widely available, Lodish coauthored an article outlining its power to gauge the effect of price promotions on revenue. But he also warned that these tools were … [ Read more ]

Content: Article | Author: Leonard Lodish | Source: Knowledge@Wharton | Subject: Marketing / Sales

Marketing Research: Methodological Foundations

This book has established itself as a classic through seven previous editions by presenting superior, balanced coverage of both the qualitative and quantitative aspects of marketing research.

Content: Book | Authors: Dawn Iacobucci, Gilbert A. Churchill | Subject: Market Research

Don’t do SWOT: A Note on Marketing Planning

SWOT (Strengths, Weaknesses, Opportunities, Threats) is a popular framework for developing a marketing strategy. Although SWOT is promoted as a useful technique in numerous marketing texts, it is not universally praised: One expert said that he preferred to think of SWOT as a “Significant Waste of Time.”

The problem with SWOT is more serious than just wasting time. Because it mixes idea generation with evaluation, it … [ Read more ]

Content: Article | Author: J. Scott Armstrong | Source: ManyWorlds | Subjects: Marketing / Sales, Strategy