If customers don’t understand your product and how to get the most out of it, they devalue it worth.
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  This is the gist of Theory of Asymmetrical Information that won George Alerlof, Michael Spence and Joseph Stiglitz a Nobel Prize in Economics in 2001.
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  Earlier this week I signed up with PRWeb, the online […]
  In the movie, Get Shorty, the Chili Palmer loan shark character is played by John Travolta. In one scene he is teaching the Danny DeVito character how to play a loan shark. Travolta says “look at me,†“look at me†while looking at Dan DeVito with a blank expression on his face. Then he […]
“Pleasure is a powerful source of motivation, but it does not produce change; it is a conservative force that makes us want to satisfy existing needs, achieve comfort and relaxation … Enjoyment (gratification) on the other hand is not always pleasant, and it can be utterly stressful at times. A mountain climber may be close […]
In a recent CRM-A (www.crmaassociation.org ) webinar, Paul Greenberg started his presentation with a statement to the following effect—“We all agree that products per se are no longer a source of competitive differentiation; the customer experience is the major source of competitive differentiation.â€Â
I agree with Paul’s position. However, I am concerned that many people who […]
John Fleming (gmi.gallup.com) provided some interesting evidence relating brain activity to customer behavior. The brain activity patterns of engaged, unengaged and actively disengaged customers were found to be dramatically different. Engaged customers showed greater levels of activity in the orbitalfrontal cortex where emotion and cognition are integrated.Â
This is both good and bad news for those […]
A while back, Bob Stacey, the president of the Association for the Advancement of Relationship Marketing, asked me a provocative question. What is the future of marketing?
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I gave him two answers.
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The first is an area in which I am deeply involved—the need to switch from marketing products to enhancing the experiences customers have in the […]
Many believe customer loyalty is dead. Many also feel sustainable profits and growth is extremely difficult. Most businesses are chasing short-term profits in an ever-tightening spiral of cutthroat competition. Companies buy their customer’s business through pricing, incentives, or convenience, promising more for less, faster and with less involvement. This further motivates customers shop on price […]
