“In the battle to gain an edge over competitors, companies spend millions of dollars to understand consumers through focus groups, surveys, and sophisticated analytics. But too often, because most people don’t really know what they want, these methods waste time and resources. There is a better way: educating consumers, rather than listening to them.
Consider, for example, three very different products: coffee, diamonds, and smartphones. Billions of people around the world have enjoyed coffee for over five centuries. But our understanding of the product has changed dramatically since Starbucks debuted in Seattle in 1971 and grew to a global powerhouse with more than 28,000 locations. Similarly, DeBeers took a luxury gemstone — diamonds — and created a broader market for it by associating it with romance and marriage. By 2013, diamond sales topped $70 billion, up from virtually nothing in 1932. The stones were the same, but consumers were taught that they had a new meaning — and value. Finally, in the case of smartphones, Steve Jobs famously argued against the traditional approach: “Some people say, ‘Give the customers what they want.’ But that’s not my approach. Our job is to figure out what they’re going to want before they do…People don’t know what they want until you show it to them.” Text from @harvard_business_review . #digitalstrategy#productphotography#ad#wine#marketingtips#teach#client#competition#plan#ecommerce # story#article#lesson#goals#grow#ceo#management#ideas
6 0 06:18pm 03/24/2019
Smh we could all be authors of this one
2 1 06:18pm 03/24/2019
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