Going against conventional marketing wisdom, Absolute Value reveals what really influences customers today and offers a new framework--the Influence Mix, a totally new way of thinking about consumer decision making and marketing, and about developing more effective business strategies.Read more...
Going against conventional marketing wisdom, Absolute Value reveals what really influences customers today and offers a new framework--the Influence Mix, a totally new way of thinking about consumer decision making and marketing, and about developing more effective business strategies.
How people buy things has changed profoundly--yet the fundamental thinking about consumer decision-making and marketing has not. Most marketers still believe that they can shape consumers' perception and drive their behavior. In this provocative book, Stanford professor Itamar Simonson and bestselling author Emanuel Rosen show why current mantras are losing their relevance. When consumers base their decisions on reviews from other users, easily accessed expert opinions, price comparison apps, and other emerging technologies, everything changes.
Absolute Value answers the pressing questions of how to influence customers in this new age. Simonson and Rosen point out the old-school marketing concepts that need to change and explain how a company should design its communication strategy, market research program, and segmentation strategy in the new environment. Filled with deep analysis, case studies, and cutting-edge research, this forward-looking book provides a totally new way of thinking about marketing.
- ISBN-13: 9780062215673
- ISBN-10: 0062215671
- Publisher: HarperBusiness
- Publish Date: February 2014
- Page Count: 232
- Dimensions: 9.29 x 6.24 x 0.94 inches
- Shipping Weight: 0.9 pounds
Publishers Weekly® Reviews
- Reviewed in: Publishers Weekly, page .
- Review Date: 2013-11-18
- Reviewer: Staff
Customers in the information age are no longer at the mercy of marketers and advertisers; much more important are the opinions of friends and loved ones who evaluate the “absolute value” of a product rather than the “relative value” of a marketing message. Simonson, a marketing professor at Stanford’s Graduate School of Business, and Rosen (The Anatomy of Buzz) aim to help marketers and strategists make better decisions about how to reach consumers when the flow of information is no longer up to them. Marketers used to work with a time-honored set of assumptions: the importance of a company’s brand, the effect of loyalty, customers’ irrationality, option paralysis, and the need to carefully position products. But the goal is now about tracking what people want, then providing it. The new framework (“Influence Mix”) includes the customer’s preferences, beliefs, and experiences; input garnered from other people; and information services, and marketers. The authors cover the decline of branding; the challenges for review sites (such as Amazon, Yelp, and Zagat) trying to maintain their credibility; the ability of smaller businesses to create transparency through user reviews; the declining importance of both “sophisticated” countries and brands; and the degree to which customers trust each other, not marketers. This accessible, data-rich study should help businesses make the crucial shift from a focus on perception to word-of-mouth marketing. Agent: James A. Levine, Levine/Greenberg Literary Agency. (Feb.)