You know what your customers are buying, but do you know what they’re really trying to get done? As business management legend Peter Drucker wrote over 50 years ago, “The customer rarely buys what the company thinks it sells him.” More recently, Harvard’s Clayton Christensen popularized the concept that people are trying to get jobs done, and oftentimes a very wide assortment of products and services – as well as doing nothing – compete to...
In the context of coronavirus, here are ten ways businesses and brands can adjust to make the difference between success and failure in 2021.
Would you like to own a billion-dollar business? The answer depends on who you are and what else you’re doing with your time and money.
It’s nearly impossible to escape the pervasive influence that brands have on our lives. In the broadest sense, brands constitute organizing mechanisms to help us navigate through each consumer day. What we drink, eat, or drive, what products we use at home and at work, where we play or vacation, where we live, what we watch, what we read, and even who we interact with, and how, are often choices informed by or shaped by...
A business model consists of four things. First, it’s a description of how you make money, as it tells why and how your customers pay for your products and services. But even more important, a business model provides an experience, and that experience is essential to what people pay for. The difference between Saks Fifth Avenue and Walmart isn’t just the quality of the merchandise and the prices, it’s the way a customer feels because...
