Countless times top managers newly appointed to a company immediately announce a better future for their stakeholders, one they declare with conviction will be notably different from the past. Many want to distance themselves from what came before, which they were not part of and in any case cannot change. So they direct attention forward by promising: “We can […]
The concept of disruptive innovation has captured the attention of executives around the world. As explained by Clayton Christensen, a disruptive innovation is initially seen as unattractive by mainstream customers and by the leading firms who serve those customers. Eventually, however, those firms lose their leadership positions to new entrants who are willing to develop and improve the innovation […]
A debate about whether firms with superior customer satisfaction also earn better-than-average stock returns has been persistent in the academic business and marketing literature (Fornell, Mithas, Morgeson, and Krishnan 2006). Proponents of the customer satisfaction-stock market relationship make a simple, intuitive argument that is highly relevant to both consumers and investors: Companies that do better by their customers also […]
We love customers. Popular authors and consultants encourage organisations to satisfy them (Cockerell 2013), delight them (Curtin 2013), and even hug them (Mitchell 2003; though we predict mixed success from following this advice, based on a myriad of background factors). Overall, companies accept these recommendations wholeheartedly. We want loyal customers; we want “raving fans” (Blanchard 1993).
And yet, this singular […]
Currently valued at US$20.4 trillion, ‘no decision’ opportunities are languishing in pipelines all over the world; a global ‘gold reserve’ of seismic proportion waiting to be unlocked by sales people. This is one conclusion from our latest research The Sales Persons Secret Code, which suggests more than 27 per cent of opportunities forecast and pursued by salespeople result in […]
Quality, we know, is often necessary, but it’s far from a sufficient condition for market status. Better technologies lose format wars — as Betamax did against the inferior VHS videotape in the 1980s, and as artisanal bakeries did to industrial mass producers.
Losing status, however, is much easier than gaining it. Ask law firms, accounting firms, even universities how they […]
Online shopping with touchscreen ultrabook, by Intel Free Press, under a CC BY 2.0 licence, via Wikimedia Commons
The “diaper and beer” product placement practice has been a great marketing strategy in traditional retail stores. As e-commerce gains popularity in recent years, online retailers have attempted to replicate this practice in e-commerce.
Is there any website feature that online retailers can exploit to […]
Screen shot from the New York Metropolitan Opera’s website
People like to think about themselves in good terms. When asked for donations they have difficulty turning down the ask. Sometimes they engage in actions to avoid being asked in the first place. It reminds me of kids playing “If I Don’t See You, You Don’t See Me!” They pretend to […]
Apple’s corporate strategy is changing and, once again, not in a way that benefits customers. Here are some of Apple’s latest decisions. Making the iPhone 7 just an incremental improvement over the iPhone 6. Developing a brand new iWatch with several new features. Introducing the Earbuds and in the process removing the earbuds jack and, perhaps the most important […]
Corporate Social Responsibility is the latest craze in marketing strategy, and often takes the form of companies donating a portion of their proceeds to select social causes. Companies work hard to identify partnerships that would benefit both them and the charities. But what is the trick to making such efforts effective?
I offer an answer to this question in a […]
The efficiency of environmental communication should be built throughout business practices. Natural Resources Institute Finland (Luke) (www.luke.fi) has studied this issue by interviewing companies in the Nordic woodworking industry and by analysing recent developments in environmental performance measures.
Wood is a renewable raw material, and thus the environmental performance of wood product companies has the potential to give them a […]
If you have ever conducted a job interview, you likely understand that the process is not a one-way street but a multi-lane road with two-way traffic. As an interviewer, you want to assess the applicant’s skills and abilities. Similarly, the candidate also assesses you and your company. What can you do to create impressions that enhance your company’s recruiting […]
Through the clinical application of neuroscience, researchers are now in a much better position to understand and treat brain-related illnesses. However, hardly a day passes without neuroscience being hailed in the media as a panacea for a variety of problems afflicting many non-clinical disciplines. Follow your imagination, and add the prefix ‘Neuro’ to any kind of existing discipline, and […]
In the academic and practitioner community, the emphasis has been placed on how being more customer oriented promotes job satisfaction and improves sales outcome (Brown et al. 2002; Donavan, Brown, and Mowen 2004). Although this absolute level approach (i.e., the more the better) has been the dominant paradigm in customer orientation (CO) research, this neglects the social context in […]
Firms regularly assume that they can improve their innovation performance by involving customers in new product development (NPD) and tapping into customer knowledge about their needs and potential solutions. However, not all firms have benefitted from this practice. We undertook an investigation to explain why the returns from customer participation vary substantially across contexts and what marketers can do to […]
Overconfidence is a common error that can lead people to make poor choices because they misforecast future product usage and overestimate their abilities to navigate contract terms. The value of a gym membership depends on how often you think you will go to the gym, and the value of a mobile phone contract depends on how much data you […]
The consumption of sustainable foods and drinks is becoming common in certain categories. This provides us with an opportunity to study markets that have transformed from merely “unsustainable” to “sustainable” consumption. As approximately three fourths of the coffee consumed in the Netherlands is being produced in a sustainable way, the Dutch coffee market is a market from which we […]