Book Description
Winning by not competing: a fresh approach to strategy Since the dawn of the industrial age, companies have engaged in head-to-head competition in search of sustained, profitable growth. They have fought for competitive advantage, battled over market share, and struggled for differentiation. Yet these hallmarks of competitive strategy are not the way to create profitable growth in the future. In a book that challenges everything you thought you knew about the requirements for strategic success, W. Chan Kim and Renée Mauborgne argue that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, the authors argue that lasting success comes not from battling competitors, but from creating “blue oceans”: untapped new market spaces ripe for growth. Such strategic moves—which the authors call “value innovation”—create powerful leaps in value that often render rivals obsolete for more than a decade. Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to create and capture blue oceans. A landmark work that upends traditional thinking about strategy, this book charts a bold new path to winning the future.
Customer Reviews:
Question the status quo.......2007-09-25
The book forced me to rethink the way I normally would look at business developments for my companies: either value based or feature based. The idea of a creating new space in a crowded market and making a leap in growth through the blue ocean strategy stirred up my thinking juices. Personally, I don't like how to books with "three simple steps" This book was great; a must read.
Good Book.......2007-09-24
1. This is NOT a marketing book
2. There is no such thing as a fail safe strategy
3. This is a tool and is only as good as the user
4. Applicable in different situations
5. Good companion to Competitive Strategy written in the 80's by Mike Porter which is THE industry book
6. The book is NOT a pioneer and is NOT proported to be. It is a study in those companies who seemed to have created new markets such as Cirque De Soleil. The authors did NOT set out to create a new "theory" and then retroactively "fit" companies but rather study an emerging pheonom. and try to locate patterns.
I think that pretty much covers all the gripes of the previous entries. I first came across this book in a competitive strategy class in a business organizational change degree. It is an excellent text and gives another viewpoint to the old study of competitive strategy. I have used the strategy canvas tool located in chapter two AS A TOOL to assist me in both departmental and industry situations to locate existing patterns of competition.
Worth the money.
But then, I am just a "mere" academic (albeit with many years of industry experience) so if you truly do not like the book I suggest returning it. :)
What is your greatest challenge?.......2007-09-13
The greatest struggle for most business people is to come up with a truly original and valuable idea. Close behind that is how to get employees to work together. This book makes me want to cry, because it actually, simply, lays out how to do both. Beautiful.
Academics rarely demonstrate how to do it!.......2007-09-11
I bought this book. Their identifications are valid enough. Great companies have always created uncontested market space while making their competitors irrelevant. This is not in dispute. However...
The authors Chan Kim & Renee Mauborgne are just mere academics. And what is annoying is that they haven't battle tested their Blue Ocean model from hard knocks in the trenches business wars to find out what works and what doesn't for themselves! Again, this is what I find annoying with academics. They say a lot but never prove it themselves! Remember Merton & Scholes and LTCM?
For an example...in the book, the authors have an interesting strategic canvass graph approach that supposes to prove how Blue Ocean events come about. That's fine, but how do you prove it? Moreover, the 'values' are different for each company, so there is nothing consistent to glean from this.
What I'd like to have seen is a Dash Board type matrix template that allows any company or budding entrepreneur to carry out Blue Ocean due diligence on any industry or market niches...proofing these Blue Ocean catchments from a zero learning curve application! The book does have important points but lacks the cutting edge tools to unify Blue Ocean diligence and proofs for any company!
Thus, what this book lacks is a more honed processing of enquiry from the authors. And I suspect this to be the case because like many academics they haven't proven the unifying dynamics that goes into capturing Blue Ocean strategies for themselves with businesses they have built through their own mindset!
Again, this book is a case of 'do what I say, because I don't have to prove what I say'.
There are great industry shapers out there who can shift and move whole industries and markets in their favour...but the authors of this book are not one of them.
However, there are great positives the authors have identified. The book contains a very interesting 'Strategic Grid' technique. From this simple grid technique any one can mentally survey how to change one's industry or market from a macro-vantage point. But shifting and moving your new found Blue Ocean grid at a tactical level to rule your competition making them irrelevant is another matter entirely. The chapters that explain this grid are worth the book, but don't expect any thing else.
What you really want is a knowledge base that allows you to dig out Blue Ocean criteria from a template of enquiring tools STACKED PROCESS BY PROCESS UNTIL YOU PROOF YOUR OWN BLUE OCEAN POWER. This book fails on this!
I would suggest that any one buying this book should read 'Blue Print to a Billion by David Thomson to understand how real Blue Ocean executions are carried out correctly. In addition, Chet Holmes' Ultimate Sales Machine' gets you to understand how to carry out big frame strategies at the tactical level.
Both these books will plug the holes lacking with Kim & Mauborgne's work.
Blue Ocean Strategy.......2007-09-10
I like the non text book clear presentation. You do not have to have an MBA to enjoy and learn from this book.
Book Description
Incorporating the latest industry thinking and developments, this exploration of brands, brand equity, and strategic brand management combines a comprehensive theoretical foundation with numerous techniques and practical insights for making better day-to-day and long-term brand decisions—and thus improving the long-term profitability of specific brand strategies. Finely focused on "how-to" and "why" throughout, it provides specific tactical guidelines for planning, building, measuring, and managing brand equity. It includes numerous examples on virtually every topic and over 75 Branding Briefs that identify successful and unsuccessful brands and explain why they have been so. Case studies will familiarize readers with the real-life stories of Levi's Dockers, Intel Corporation, Nivea, Nike, and Starbucks. For industry professionals from brand managers to chief marketing officers.
Customer Reviews:
Not worth the money.......2007-05-21
This was not at all helpful. It is nothing more than a notebook full of lines with some vocabulary words on the side of the page. It doesn't even have an index, table of contents etc. I was very disappointed with this and would not recommend it to anyone.
smooth transaction, exact product, nice&easy supplier.......2007-05-14
exact product at an affordable price w a smooth transaction
Not what I expected.......2007-02-22
I expected this book to be more than a workbook to supplement another textbook. I was looking for something which actually provided content on Building, Measuring and Managing Brand Equity.
Maybe I misread the description of this book. I was actually looking for the text of the main book in paperback format.
All you need for Brand Management.......2007-02-07
This covers every aspect of Brand Management. There are other books that specialize on some aspects of branding, but this one is a complete reference.
The One Source.......2003-11-24
If you only buy one Branding book this is the bible. Wow, the price on the second edition has gone way up.
Book Description
The author of the bestselling The Art of Innovation reveals the strategies IDEO, the world-famous design firm, uses to foster innovative thinking throughout an organization and overcome the naysayers who stifle creativity.
The role of the devil's advocate is nearly universal in business today. It allows individuals to step outside themselves and raise questions and concerns that effectively kill new projects and ideas, while claiming no personal responsibility. Nothing is more potent in stifling innovation.
Drawing on nearly 20 years of experience managing IDEO, Kelley identifies ten roles people can play in an organization to foster innovation and new ideas while offering an effective counter to naysayers. Among these approaches are the Anthropologist—the person who goes into the field to see how customers use and respond to products, to come up with new innovations; the Cross-pollinator who mixes and matches ideas, people, and technology to create new ideas that can drive growth; and the Hurdler, who instantly looks for ways to overcome the limits and challenges to any situation.
Filled with engaging stories of how companies like Kraft, Procter and Gamble, Cargill and Samsung have incorporated IDEO's thinking to transform the customer experience, THE TEN FACES OF INNOVATION is an extraordinary guide to nurturing and sustaining a culture of continuous innovation and renewal.
Customer Reviews:
How many faces do you recognise?.......2007-08-13
Building on the Art of Innovation, Kelly brings us the new theory of the ten faces of innovation. It is simple to read and easy to understand. Another book which I found just as breezy to read was Eightstorm: 8-Step Brainstorming for Innovative Managers.
Good stories, but very IDEO-centric.......2007-07-30
Tom Kelley's book The Ten Faces of Innovation defines ten personas (thankfully not "named"--Bob, Sally, etc--just titled) that exemplify roles in an innovative team. They aren't job titles or exclusive positions, and people can work across roles as well.
* The Anthropologist, who observes people and discovers ways to help them
* The Experimenter, an expert in prototyping and testing, probably the classic "innovator"
* The Cross-Pollinator, with broad interests who enjoys connecting different cultures
* The Hurdler, who champions projects and carries them over beaurocratic obstacles
* The Collaborator, who brings people together to work cooperatively
* The Director, encouraging, inspiring, supporting, organizing and championing innovators
* The Experience Architect, a specialist in designing full "experiences" that transcend simple products or services
* The Set Designer, creating spaces that inspire and support innovation
* The Caregiver, who improves the subjective, emotional aspects of products and how they relate to us
* The Storyteller, who tells stories about people and products in creative and interesting ways
The book is heavily IDEO-centric, and most of the examples are from Kelley's own 20-year career there. Not really a surprise for a book subtitled "IDEO's strategies..." but worth mentioning; this is basically IDEO in book form. It includes several weird asides that are clearly IDEO/Kelley quirks, for instance his long tangents into the power of napping at work, comfortable hotel beds, and (ugh) T-shaped people. The IDEO focus gets pretty old after a while, and makes you wonder about the broader applicability of the ideas. What works in a design consulting company that works almost exclusively on short-term projects may not be the best structure for others.
But the personas are broad and--as mentioned above--not exclusive to people's job roles, so they are good signposts for anyone interested in developing their own innovation skills. I suspect it would be less interesting for a sole inventor/designer, but for people working at companies they are especially applicable.
Innovation-in-depth.......2007-06-07
The Ten Faces of Innovation describes ten complementary personas - personality types or roles that contribute in different ways to creative teams:
Anthropologist - this is perhaps the most literal title, meaning people who have been professionally trained as social anthropologists to observe people and processes and interactions `with a fresh eye'. These are probably the biggest antidote to "But we've always done it like that" thinking.
Experimenter - willing to take a chance, maybe, but also willing to explore alternatives and test concepts through prototyping, trial-and-error and applied science.
Cross-pollinator - like a bee flitting between the private parts of flowers, the cross-pollinator spreads good ideas and techniques between specialisms, breaking down silos and sharing good practice
Hurdler - able to leap tall buildings (well project hurdles anyway) in a single bound. They are adept at finding ways over (or more likely around) around immovable obstacles to reduce the banging-your-head-against-a-wall bruising.
Collaborator - knits people and teams together by finding common interests and objectives. Sometimes described as the spider who weaves the web linking everyone to everyone else.
Director - nothing to do with the title on her business card, the Director provides clarity and direction, a rallying point for the troops yet with the humility to actively listen to input from the team.
Experience architect - with an uncanny knack of putting themselves in the customer's shoes, experience architects can visualize products and services at the point of use, no mean feat when they are barely on the drawing board and even the customers are an unknown quantity.
Set designer - this is a fascinating persona: someone who creates visual spaces and physical representations relating to the job at hand. Not really office architects as such, set designers invent scenarios and contexts. They are also comfortable to break unwritten rules and help people mix fun with work (now there's a thought!).
Caregiver - in the sense of nurses and doctors (no, not the teenage version), caregivers support their colleagues, providing a sympathetic sounding board and gentle encouragement when times are tough, and motivating and inspiring people to give there all at all times.
Storyteller - anyone familiar with The HP Way or the origins of Apple and Microsoft will recognize the value of constantly telling and re-telling inspirational stories as a way of reinforcing corporate culture. It's clear that this is a comfortable personal for author Tom Kelley since both books quite literally tell a story.
The book is peppered with genuine examples, most of which involve the genesis of familiar but once remarkable products that broke the mold in some way - style, design, functionality, whatever. Some of you reading this may have bought Palm V PDAs, for instance, on the strength of their sleek looks and brilliant user interface - the Graffiti stylus script language so close to English that anyone can pick it up with a few minutes' practice. How many of you appreciate the innovative use of glue instead of screws to bond the Palm V's case together, or the flat-pack lithium batteries inside? Like many other examples, the attention to detail and the multiple overlapping layers of innovation go well beyond the obvious external visual cues. This is innovation-in-depth.
Whether you are interested in applying innovation and creativity to work initiatives or life in general, the IDEO books are inspirational, instructional and fun to read - what a combination. Recommended.
Easy suggestions for increasing innovation.......2007-05-04
Welcome to an enjoyable, easy read - which is not to dismiss Tom Kelley's fine ideas. With the aid of Jonathan Littman, Kelley works throughout this book to show how innovation can be much more painless than most people think, and more fun. Kelley makes thinking collaboratively sound like a blast. In the process, he convinces you that your organization should nurture and cherish playing with ideas. Although he admits that his consulting company, IDEO, found itself grinding along on tedious projects at times, and that he has watched people shoot down perfectly good suggestions, his underlying message is one of open possibility. He presents 10 roles you can play during meetings, any one of which would be enough to add considerable value. By showing that these roles are temporary, he sends the message that if you want to stay competitive, you can change, and even must. As he examines everything from product names to rules governing how workers decorate their cubicles, Kelley demonstrates the many opportunities you have to create something new. The cost is often little or nothing; sometimes innovation simply means getting out of your employees' way. We recommend this book to managers who wish to break old patterns and encourage creative thought companywide.
Inspiring and fun.......2007-04-17
If you want to create an environment where innovation is the norm, what do you do? Tom Kelley doesn't have a prescription, but he does have some people he'd like you to meet. This book is about the roles that people in an innovation driven organization take on to create fresh new ideas on a regular basis.
If you're an individual contributor, this is a very helpful book both to understand the people around you and your own specific skills. What's more, although in some ways Kelley is describing personality attributes, he is also describing skill sets and ways of looking at the world that you can decide to cultivate. No one is going to be excellent at all of these roles- but that doesn't mean you can't strive to be well rounded!
As a manager, the main take-away lesson is that there are many different types of creativity that can reinforce each other if put together. The most important part of building a creative organization may come at the hiring stage, where you can most easily create a mix of the different personas. But if you're in a stable organization, as most of us are, you can use the "ten faces" to identify the different styles of creativity in your people, and use that information to form teams and projects to bring out their best.
The book is very heavy on anecdote and example. Every one of the ten personas has several stories that illustrate how such an approach can generate ideas that otherwise wouldn't have been considered. The Anthropologist will put themselves in the place of the average user or consumer, as did a woman who faked a pregnancy to see how she would improve the birthing experience at a major hospital. The Experience Architect will take a commodity service and turn it into a show that customers will enjoy for its distinctiveness, like the ice cream "cooking" at Cold Stone Creamery.
The persona that I found most intriguing, and perhaps also furthest from my own, was the Set Designer. Kelley believes strongly in the power of space to shape the minds of those who inhabit it, and just reading about some of the things that go on at IDEO is enough to make my own cube - which I had thought very nicely decorated - seem drab and uninspired.
"The Ten Faces of Innovation" is not a good book to read if you want to know exactly how to change your company, but it is an excellent resource for spotting the early creative behavior every innovator should want to encourage in their team.
Book Description
Praise for Book Yourself Solid
"Lead generation and conversion is the heart of any marketing enterprise, and Michael Port's ingenious and practical system is among the best I've seen. Read this book and transform your business!"
—Michael E. Gerber, founder and Chairman, E-Myth Worldwide, author of The E-Myth Revisited
"Do your homework! This is not a conceptual, theoretical look at how to succeed as a service professional. Instead, it's just what you need if you're stuck and you'd rather invest in your future (by doing the right kind of work) than complain about it later."
—Seth Godin, author of All Marketers Are Liars and Permission Marketing
"Going out on your own can be scary. But this book is a welcome antidote to that fear. It brims with savvy advice and nearly overflows with practical, hands-on exercises. Once you absorb the wisdom in these pages, you'll be ready, willing, and eager to fashion a more rewarding work life. Michael Port is the guy to call if you're tired of thinking small."
—Daniel H. Pink, author of A Whole New Mind and Free Agent Nation
"If you're even slightly uncomfortable with the idea of networking, marketing, or selling, this is the book for you. Book Yourself Solid gives you everything you need to fill your business with ideal clients. Before you're even finished reading the book, you'll be inspired to take action!"
—Ivan R. Misner, PhD, founder and CEO, BNI, coauthor of Masters of Networking
"Wow! I never expected this book to be so good. I love how it focuses on getting your ideal clients-and more than you can imagine possible. An excellent, inspiring, practical guide to outrageous success!"
—Joe Vitale, author of There's a Customer Born Every Minute
Customer Reviews:
Not for salespeople but for consultants and other business people who need to get "projects" booked.......2007-10-07
This book isn't as bad as some reviewers have written or as good as others have raved about. This book isn't for salespeople and because of that I was disappointed. This book is for professionals that have to "book themselves," such as public speakers, lawyers, accountants and the like. In some ways if you don't already know what this book teaches you better get a job. However, as the E-Myth points out there are plenty of people that are good at what they do but are clueless about how to get themselves business. If you fall into this category this is a good book to read and implement.
Port's book is long and at times wordy but a fun and easy read. There are diamonds here but you have to mine through a lot of ore to get at them. The book is well written and conversational. I can see why Mr. Port has a successful career. This book is perhaps a good first read if you're considering starting your own business or want to get more clients. For a solid and measurable program I recommend "Get Clients Now" by C. J. Hayden or "Get Business to Come to You" by Sarah and Paul Edwards.
Solid marketing book!.......2007-10-05
This book provides a great marketing overview. It leads the reader through finding a target market, branding, being selective in choosing clients (some fresh insights for many readers here!), presenting yourself and business to prospective clients, web marketing, networking, publicity and more. Your marketing structure and systems will NOT look the same - and thus your results will not be the same - if you read this book and put its numerous tips and advice to work for you.
Beyond sales and marketing professionals, this is a great resource for any business person who markets their service or products themselves - including small business owners, consultants and trainers, and small professional firms (financial planners, lawyers, dentists, etc.). This is especially true for those who are just starting out and those who do not like to market themselves (you know who you are!).
Michael's emphasis on personal integrity really appealed to me (if you don't like a client, you will sacrifice your integrity by putting yourself in a position of not being able to give your full effort). His process is about building a steady pipeline of highly-qualified prospects that you will ENJOY working with and to whom you can provide full value.
All in all, a solid book. Highly recommended!
Mollie Marti, Ph.D., J.D.
Author, Selling: Powerful New Strategies for Sales Success
Great Book - The one to Buy!!!!.......2007-09-22
Excellent Book ... packed full of all the right information for the Consultant/Trainer/Coach/Business Person/Marketing. He will show you step by step how to get Booked Solid - It works!
Michael's website is also full of free goodies ... I download his teleseminars and listen to them in my car each week (www.thinkbigrevolution.com) - Great stuff - awesome guests!
So glad I bought this book!
marketing made easy.......2007-09-01
Michael Port gets it. His plan is practical and visionary. He has created a way for any service business to get results. I have been telling everyone I know about this book!
A Essential Book For Serious Business People.......2007-08-28
Marketing is without question a essential skill set for business success and the ability to market oneself effectively is paramount. Michael has a genuine passion for this work and really cares about the success of his clients.
I feel this book is an essential addition to any business person's library. It will cut years off your learning curve and may very well make the difference between your success - or failure.
Book Description
This best seller provides a balance between theory and practice, useful career information, and a comprehensive package of ancillaries. It takes a strategic approach to decision making. The volume provides an overview of strategic retail management, and provides a careful examination of situation analysis, targeting customers and gathering information, choosing a store location, managing a retail business, merchandise management and pricing, communicating with the customer and integrating and controlling the retail strategy. For retail training directors.
Customer Reviews:
Excellent for Retail.......2005-01-05
Retail Manangement by Barry Berman is an excellent book for people getting into Retail business. It covers from basics to advance level of Retail management.
A full coverage of all major retailing topics.......1997-03-10
A very useful book, not only for students, but for any person envolved in retail business.
For students it is a comprehensive companion text. A good teaching package.
For the managers and entrepreneurs, including those living outside the USA, giving a full coverage of retail market in USA, this book widens the horizonts
Book Description
This best-selling book is dedicated to the development of decision-making skills in marketing. It introduces concepts and tools useful in structuring and solving marketing problems, while extensive case studies provide an opportunity for those concepts and tools to be employed in practice. Consisting of 10 chapters and 43 cases that feature contemporary marketing perspectives and practices, this book covers the topics of marketing management: its foundations; financial aspects; decision-making and case analysis; opportunity analysis, market segmentation, and market targeting; product and service strategy and brand management; integrated marketing communication strategy and management; pricing strategy and management; the control process; and comprehensive marketing programs. For marketing executives and professionals.
Customer Reviews:
Chapter two is most valuable!.......2007-03-22
Chapter two has a really good, in depth, review of basic marketing math.
Shippment.......2005-07-08
Book was in perfect condition with the exception of some small damage that occurred during shipping. The company packaged it well, I think the postoffice just used metal straps during shipping which damaged the book a little. But the company shipped it out immediately which is appreciated!
Strategic Marketing Problems... Not Solutions.......2003-08-17
I was disappointed. The book does contain some interesting thoughts, but 90% of the content is a description of companies facing marketing problems (case studies with a lot of facts). The author doesn't offer the solutions and best practises that would help solve these problems. While reading this book, i felt i was eating a burger without meat. Something is missing...
This is a good book for teachers who want case studies for their students to work on. It's a classroom book. It's not a good book if you want want to read marketing theory and best practises (if you're already in the management world).
Great and comprehensive.......1998-05-28
I am a MBA Candidate with a finance focus who had the pleasure to use this book. Never before had I imagined that marketing could have the amount of numerical focus that this book shows. There's a case for every type of industry and many world-famous companies in this book. What else is missing from an introduction to marketing text?!
A good book..........1997-10-23
I'm a MBA student in marketing. This book is good, but just that... good. I'm absolutely certain that somewhere has to be a book about strategic marketing that has a little more information (that's the problem, little theory and plenty of numbers) and not so expensive.
Teresa M. Rodríguez
Book Description
Marketing Management: A Strategic Decision-Making Approach 6th Edition concentrates on strategic decision making. This approach sets Mullins apart from other texts which place greater emphasis on description of marketing phenomena rather than on the strategic and tactical marketing decisions that managers and entrepreneurs must make each and every day. This 6th Edition continues to be the most current and internet-savvy book available, injecting the latest developments in internet-based communication and distribution technology into every chapter. Also, an entire chapter (Chapter 15) is devoted to the development of marketing strategies for the new economy. The author team’s rich entrepreneurial, marketing management, and consulting experience spans a broad variety of manufacturing, service, software, and distribution industries provides an abundance of real-world, global perspectives.
Download Description
"It's more important than ever for companies to objectively assess the value of their customers. But conventional measures of ""customer lifetime value"" haven't been linked to overall business value and haven't been useful to senior managers. Managing Customers as Investments overcomes both shortcomings.
Through practical examples and case studies, you'll learn a rigorous yet simple approach to estimating the lifetime value of your customers¿and how you can use that information to make better tactical and strategic decisions. You'll learn how customer value calculations impact customer acquisition, service, retention, and segmentation¿as well as strategic M&A and alliance decisions.
Whether you're a CxO, line-of-business manager, marketer, analyst, or investor, Managing Customers as Investments will help you focus your resources where they'll deliver maximum value.
Key takeaways include
- Customers are assets
- How to calculate the value of customers in a simple way
- How the value of customers provides the basis for marketing strategy and planning
- The importance of balancing the value of the customer to the firm with the value the firm provides to the customer
- How to use the value of the customer as a basis for firm valuation and M&A decisions
- The implications for organization and incentive structure and the limitations of product and brand management
- How to link customer value to business value
- Practical techniques for CxOs, line-of-business managers, marketers, financial analysts, and investors
- How to make better decisions about marketing, partnerships, and organizational structure
- Easy-to-use metrics and real-world case studies
What your customers are really worth: crucial knowledge for better strategic and tactical decision-making
How can you find out, without endlessly complex modeling? And after you know, what should you do with that knowledge?
Managing Customers as Investments has the answers¿and they may surprise you.
You'll learn surprisingly simple ways to get reliable customer value information...and get it in a form you can use.
You'll learn how to use it to measure your marketing effectiveness more accurately than ever before¿and drive improvements throughout your entire customer relationship lifecycle.
You'll learn how customer value can bring new clarity to decisions about M&A and firm valuation.
Everyone tells you to manage your business around customers. This book gives you the tools to do it.
"
Customer Reviews:
Good Quality, Poor Quantity.......2007-09-19
The substance of the information presented was genuinely useful knowledge. The first 2 or 3 chapters really give a good analysis of the value of a customer. The extensive examples that follow are merely verbose repetitions of the previously presented (and actually well supported) concepts. Sadly there is not a Harvard Business Review for this book, but there should be, to cut down on absorbtion time. Not a waste of money, but perhaps time.
Very interesting customer life time model but a bit weak in customer strategy level.......2007-03-16
Book is centered around understanding customer life time value and what is the required mind set and strategy to drive customer life time value as a business driver.
Life time value model is very very interesting because of its simplicity yet usability - I plan to use it. However where the book is no delivering is its strategy angle. Customer strategy is too much simplified as how do you drive customer acquisition and retention with different programs highlighting the loyalty programs (and also setting some question marks on it). What the book does not address is the core mindset of customer driven business strategies: How companies should understand the business they are in from outside in view i.e. from customer side: what is the category we are in, what is the mindshare we have among our customers, how are we integrating our business and the offerings to our customers' businesses and lifes, what alternative business models we have to drive life time value.
But because the life time value is useful and the book as total is rather enjoyable to read I recommend this book
The Customer Lifetime Value approach to business strategy.......2006-12-18
"Managing Customers..." does a wonderful job of providing a holistic approach to customer lifetime value (CLV).
Founded on the principle of viewing customers as assets, the book provides a super-efficient, highly-impactful read on transforming the CLV principle into actionable tactics in key aspects of business - fusing marketing, finance, and organizational structure into a well-aligned strategy for enabling a business to maximize the value it creates & derives from customers. Truly a must read for students of business.
On a side note - just wanted to express how impressed I have been with all of The Wharton School books that I have read to date - they are truly some of the finest business books available.
Highly recommended to all marketing executives.......2006-07-12
How much are your customers worth? If financiers and investors had bothered to ask themselves this basic question, they might have prevented the Internet bubble and other expensive corporate mistakes. Such disasters can occur when people invest in businesses with no earnings and fanciful business models. Authors and professors Sunil Gupta and Donald Lehmann make a powerful case that executives should abandon outdated business-evaluation models based on traditional financial metrics, such as cash flows. Instead, they should rely on the present and future value of their businesses' customers: the "customer's lifetime value," or CLV. The authors discuss these issues in understandable language and buttress their arguments with formulas that will enable marketers to implement their ideas. They also provide helpful examples that are like mini business-school case studies. We highly recommend this book to all marketing executives, as well as to executives who are financially responsible for mergers and acquisitions, or advertising. This book could change the way you do business and increase your earnings from your best customers.
Important metrics for effective customer management.......2005-12-12
Are you spending more on your customers than they are worth? That is the question these authors attempt to answer in this book. Whether it is acquisition cost or retention cost many businesses may be spending too much on their customers. As with all investments there is a time to increase investment, a time to hold them, and a time to let them go. This is a detailed analysis of how to develop metrics for your company that help determine customer value. With increasing customers there are increasing costs. Once you have developed your metrics they show how to use that information to determine things like customer lifetime value. Once you know their lifetime value you can make effective marketing and management decisions related to your customers. You have to manage your customers in order to manage your business. Now you can determine how to best manage your customers. A practical approach to managing customers that is both effective and easy to apply while providing real results. Managing Customers as Investments is a recommended read for all marketing and customer-centric managers as well as all corporate executives.
Book Description
Providing the most current and complete treatment of business-to-business marketing, this comprehensive market leader captures and integrates the latest developments in market analysis, relationship management, supply chain management, marketing strategy development, and electronic commerce. Popular in both the United States and Europe since its first edition, the text provides expanded treatment of relationship strategies, the technology adoption life cycle, strategy formulation in high-tech industries, new product and service development for business markets, and Internet strategies.
Customer Reviews:
Business Marketing.......2007-02-19
This book discusses the principles of business-to-business marketing in a very clear manner. The topics and writing flow very easily which makes for a gentle and interesting read.
Amazon.com
American and European feelings towards Japanese business practices have varied dramatically through the last few decades. In the late 1970s and 1980s, a wave of fear swept through many Western leaders as they contemplated Japan's stunningly rapid rise from the ashes of World War II. Then more recently, as the 1990s and early 2000s saw stagflation gripping the Japanese economy, and knowledge-based innovation in technology and financial services bringing unprecedented prosperity to many Western countries, a feeling of vindication (and sometimes smugness) returned to those same corporate chieftains. Most recently, perhaps, the pendulum of conventional wisdom has begun to swing back to a middle position, in between the extremes of adulation and disdain: respect for the positive contributions of Japanese business culture, without blind acceptance. It's with this spirit that the authors of Lean Solutions offer their insightful observations about process design and service delivery in modern companies.
James Womack and Daniel Jones are well-recognized contributors to the lean-business movement. Lean Solutions is the consultants' fifth book together, following earlier works like Lean Thinking and The Machine That Changed the World, and springs as before from their keen interest in Japanese business methods and philosophy. What compels them to write yet another book, though, given the well-established literature on lean business?
The authors offer an intriguing description of their mission at the beginning of this latest book. Principles of lean design have in fact been adopted by many Western businesses, they acknowledge, and manufacturing quality has steadily risen as a result. Yet customers remain often dissatisfied with their experiences. The cause? To Womack and Jones, the answer rests in a myopic application of lean business principles: companies have successfully improved their manufacturing and product-development environments, but they have not had a large enough view of the overall customer relationship, and of the need for leanness in all aspects of companies' interactions with customers.
Put another way: in Lean Solutions, readers find a new and much broader conceptualization of how lean-business methods--which, to be fair to Womack and Jones, have evolved so that they can claim a global heritage as much as a Far Eastern one--might apply across entire customer experiences, rather than just manufacturing processes. The structure of Lean Solutions centers on 6 requests that the authors believe customers implicitly demand from their vendors: "Solve my problem completely; don't waste my time; provide exactly what I want; deliver value where I want it; supply value when I want it; and reduce the number of decisions I must make to solve my problems."
With a compelling mix of case studies, and illuminating thought experiments in industries ranging as widely as shoe manufacturing, health care delivery, auto repair, and grocery shopping, Womack and Jones walk readers through careful explanations of how lean thinking might be expanded beyond the factory floor to broader business problems. Lean Solutions isn't for all readers. It rests on an appreciation of the large cumulative effects that many small processes can have on business, and it requires patience from those who want to learn the secrets of lean business. --Peter Han
Book Description
A massive disconnect exists between consumers and providers today. Consumers have a greater selection of higher quality goods to choose from and can obtain these items from a growing number of sources. Computers, cars, and even big-box retail sites promise to solve our every need. So why aren't consumers any happier? Because everything surrounding the process of obtaining and using all these products causes us frustration and disappointment. Why is it that, when our computers or our cell phones fail to satisfy our needs, virtually every interaction with help lines, support centers, or any organization providing service is marked with wasted time and extra hassle? And who among us hasn't spent countless hours in the waiting room at the doctor's office, or driven away from the mechanic only to have the "fix engine" light go on?
In their bestselling business classic Lean Thinking, James Womack and Daniel Jones introduced the world to the principles of lean production -- principles for eliminating waste during production. Now, in Lean Solutions, the authors establish the groundbreaking principles of lean consumption, showing companies how to eliminate inefficiency during consumption.
The problem is neither that companies don't care nor that the people trying to fix our broken products are inept. Rather, it's that few companies today see consumption as a process -- a series of linked goods and services, all of which must occur seamlessly for the consumer to be satisfied. Buying a home computer, for example, involves researching, purchasing, integrating, maintaining, upgrading, and, ultimately, replacing it.
In this landmark new book, James Womack and Daniel Jones deconstruct this broken producer-consumer model and show businesses how to repair it. Across all industries, companies that apply the principles of lean consumption will learn how to provide the full value consumers desire from products without wasting time or effort -- theirs or the consumers' -- and as a result these companies will be more profitable and competitive.
Lean Solutions is full of surprising success stories: Fujitsu, a leading service company for technology, has transformed the way call centers solve problems -- learning how to eliminate the underlying cause of current problems rather than fixing them again and again. An extremely successful car dealership has adopted lean principles to streamline its business, making for dramatically reduced wait time, fewer return trips, and greater satisfaction for customers -- and a far more lucrative enterprise.
Lean Solutions will inspire managers to take the first steps toward perfecting their company's process of giving consumers what they really want.
Customer Reviews:
I was dissappointed.......2007-09-27
I was expecting real life, in depth case studies. Instead I got a rather simplistic view of lean. A lot of the content in the book is real common sense. There is no doubt that lean processes are a must for the company. The book tends to spend 3/4 of its time trying to make that statement, with some high level strategic content thrown about.
If you are expecting content such as how companies do VSM, and tactical challenges in doing VSMs you are reading the wrong book. But if you are interested in knowing what is a VSM, and high level overview of how VSMs are done, then this may be the book for you. ***DONT EXPECT TO BE IN A POSITION OF LEADING A LEAN INITIATIVE AFTER READING THIS BOOK***
Good book for getting introduced to lean concepts. Not much for those looking beyond concepts.
Lean Provision for Customer Service.......2007-01-17
The authors of "Lean Thinking" move their attention from lean production to "lean provision", particularly focussing on retail and services. The book makes a number of excellent arguments in a beautifully clear and readable style. The provision of goods and services to consumers is definitely the next target in the lean revolution and the authors note some particular example organisations that are achieving lean in the service sector. Tesco comes in for frequent praise.
The book does have a couple of weaknesses. Firstly, the books lacks detail on the metholodogy for achieving lean provision. Only a few vague pages are presented.
Secondly, the book would, in my view, really benefit from the input of retail experts and academics to comment on and improve the ideas that are floated by the authors. As it is, I am left with the feeling that some of these ideas are pie in the sky which would never work in the real economy.
Clearly the aim of this book is to stimulate thought and discussion on the application of lean principles to consumer service. It presents a compulsive argument for change, though no clearly worked through solutions. It moves the lean management focus onto the provision of goods and services to the consumer - where it is much needed - and, as such, is required reading for anyone involved in retail and customer service.
Certain to become a business "classic".......2006-11-14
It is desirable but not necessary to have already read Womack and Jones's previously published Lean Thinking before reading this volume. In both, their focus is on "five simple principles" which can guide and inform any organization's efforts to achieve "process brilliance" in its product development, supplier management, customer support, and production processes. The principles are:
1. Provide the value actually desired by customers.
2. Identify the value stream for each product or service.
3. Get and keep each step of the value stream in proper alignment.
4. Enable the customer to "pull" rather than "push" maximum value from what you offer.
5. Once the value, value stream, flow, and pull are established, "start over from the beginning in an endless search for perfection, the happy situation of perfect value provided with zero waste."
In this context, I am reminded of Albert Einstein's emphasis on making everything as simple as possible...but no simpler. Lean initiatives should eliminate "fat" but not "muscle." Decision-makers in many organizations confuse rightsizing with downsizing.
In Lean Solutions, Womack and Jones identify what they characterize as "the emerging challenges of consumption" despite the availability of better, cheaper products." And this seems very strange when we stop to consider that satisfying consumption - not just making brilliant products - is the whole point of lean production." In response to challenges such as complicated purchase decisions because "consumers are often drowning in a sea of choices," they explain how to combine truly lean provision with truly lean consumption. In process, Womack and Jones examine dozens of real-world examples of how various organizations have done so. When emerges is a new definition of value for today's consumer who insists that problems are solved completely, conveniently and without any waste of time. Moreover, today's consumer expects to receive exactly what she or he or wants, with value delivered where and when specified, with a substantial reduction of decisions which must be made to solve the given problem or fill the given need.
"Our objective is simple: We aim to teach managers to see all the steps a consumer must perform to research, obtain, install, integrate, maintain, repair, upgrade, and recycle the goods and services needed to solve their problem. We then challenge each step, asking why it is necessary at all and why it often can't be performed properly. Once worthless steps are eliminated, we can talk about flow and pull, heading toward perfection." Womack and Jones insist - and I wholly agree - that lean thinking must not only guide and inform continuous efforts to perfect production of a given product or service but to perfect, also, the provision and consumption of it. To the best of my knowledge, their book is the first to provide the core concepts, strategies, and tactics to accomplish that.
True, Womack and Jones suggest and explain a number of "lean solutions" to all manner of problems but it remains for those who read their book to apply the principles of lean thinking to their own specific circumstances. Obviously, bold action is required and there are perils to take into full account. Any decisions made are, at best, subject to constant refinement and, when necessary, revision and perhaps even replacement as new circumstances develop. Effectively combining and then coordinating consumption and provision streams is indeed a journey rather than a destination.
Why consumption must be as streamlined as production.......2006-04-20
Authors James P. Womack and Daniel T. Jones were early proselytizers for the lean production philosophy, a set of "waste-not-want-not" principles that most businesses now accept. But good business requires more than efficient production. Noting that consumers are still not happy, despite an abundant supply of high-quality, low-cost products, the authors now have subjected consumption to "lean" analysis as well - and they've found that consumption is as inefficient as production used to be. Consumers face lengthy delays, unhelpful "help" lines, ineffective service representatives, and other annoying and costly wastes of time and energy. We recommend this book to managers who want to boost their customers' satisfaction by applying lean principles to consumption as well as to production. Here's how and, even more important, why.
Very good, but not as good as Machine and Lean Thinking.......2006-04-16
In Lean Solution, James Womack takes lean thinking to the next step and looks closely on how lean thinking can and should improve the lives of us, the consumers. The book is written in a similar way as Lean Thinking. He takes a few principles of Lean Consumption at the beginning and goes over them chapter by chapter. He describes actual cases and next to that speculates on the future uses of Lean Consumption. The solutions describe in the book, feel good. I, as a consumer, would like them now immediately, but for most of us in the world, they are not reality, yet. Though, after reading the book, I feel they might be. So the book is very convincing and also eye-opening in many areas.
I would recommend reading this book to everybody. Why then would I rate this book as 4 stars and not 5 stars? Well, to me the book as not as good as Machine and Lean Thinking (after which I immediately got a Toyota and being very happy with it). But it's close and it's good! Highly recommended.
Books:
- Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant
- Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant
- Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant
- Business Market Management: Understanding, Creating and Delivering Value (2nd Edition)
- Creating a Profitable Catalog: Everything You Need to Know to Create a Catalog That Sells
- Customers For Life: How To Turn That One-Time Buyer Into a Lifetime Customer
- Deadly Persuasion: Why Women And Girls Must Fight The Addictive Power Of Advertising
- Designing Brand Experience: Creating Powerful Integrated Brand Solutions
- Don't Think of an Elephant: Know Your Values and Frame the Debate--The Essential Guide for Progressives
- Dr. Dean Ornish's Program for Reversing Heart Disease: The Only System Scientifically Proven to Reverse Heart Disease Without Drugs or Surgery
Books Index
Books Home
Recommended Books
- Style: The Basics of Clarity and Grace
- For Men Only: A Straightforward Guide to the Inner Lives of Women
- The Recreation and Entertainment Industries: An Information Sourcebook
- The Metaphor of God Incarnate: Christology in a Pluralistic Age
- Wikinomics: How Mass Collaboration Changes Everything
- Dancing with Your Dark Horse: How Horse Sense Helps Us Find Balance, Strength and Wisdom
- Cross My Heart & Hope to Die
- Module 2: Accounting Procedures and Data Processing Century 21 Accounting
- The Savings and Loan Crisis:: Lessons from a Regulatory Failure
- VERTEBRATES: PHYSIOLOGY. Readings From Scientific American.
Strategy & Competition
| Management & Leadership
| Business & Investing
| Subjects
| Books
The Long Tail: Why the Future of Business is Selling Less of More
Good to Great: Why Some Companies Make the Leap... and Others Don't
The Tipping Point: How Little Things Can Make a Big Difference
The Innovator's Dilemma: The Revolutionary Book that Will Change the Way You Do Business (Collins Business Essentials)
Seeing What's Next: Using Theories of Innovation to Predict Industry Change
