Listen to the voice of the market: How to creatively use market information to create competitive advantages

Author: (USA) Vincent P. Barabba (USA) Gerald Zaltman
Translator: Li Hongyan
Publisher:
Publish Date: 2005-05-01
Features: Compared to the past, businesses need to pay more attention to listening and correctly understanding the voice of the market! To make the right decisions at the right time, they must focus entirely on all information coming from customers, distributors, and competitors. In today's highly competitive market environment, any company that fails to stay closely connected with the market due to neglecting or misinterpreting market information will inevitably fall behind in the competition. The solutions provided in Listening to the Voice of the Customer enable all managers in the company to use market information more frequently and efficiently. Vincent P. Barabba and Gerald Zaltman argue that a company's competitive advantage comes more from how it uses market information than from simply possessing it. Market research itself does not guarantee success; creatively using market research is the key to business success!
As a new organizational structure, the research center is a distinctive feature of successful market-oriented businesses and also the core of this book. To ensure the successful operation of this research center, Barabba and Zaltman explain to managers how to cultivate the two essential abilities. The first is "sufficient curiosity," which includes an insatiable pursuit of understanding and meeting market demands. Of course, individuals with this ability should not be limited to the company's marketing personnel or product managers but should extend to all members of the organization. The second ability is called "outstanding wisdom," which includes the ability to correctly interpret information, appropriately plan implementation strategies, and execute them efficiently. Naturally, as the authors point out, these two abilities are closely linked. It is true that: "Insufficient information cannot be utilized well, and incorrect use will waste good information." Through interviews with more than 300 company managers and researchers, Listening to the Voice of the Customer gathers their experience and wisdom, and it is believed that readers will benefit greatly from it. More importantly, they will learn how to create an environment that allows company managers to be curious and questioning about their market, to use real market information to answer questions, and to make decisions leading to success based on market conditions!
In this groundbreaking book, the authors point out that the key to becoming a market-driven company lies in the creative use of information. In leading companies, the combination of reliable research and best practices is highly persuasive. Through this book, managers will learn practical methods to integrate all functional departments.
— George S. Day, Executive Director, Marketing Science Institute
This book is the result of the authors' extensive knowledge and experience. It powerfully analyzes and argues against conflicting information, revealing the true essence of the decision-making process in business.
— Takeshi Sakurai, President, Mitsubishi Electric America, Inc.
All those exploring the establishment of customer-driven companies need to read this book. It fully demonstrates that the development and creation of high-quality information are prerequisites for producing high-quality products, which in turn are essential for building customer-driven companies.
— Philip H. Geier Jr., Chairman and CEO, The Interpublic Group of Companies, Inc.
The research center is a significant concept, and its time has come in American businesses. If managers do not first conceive and search for information according to their own preferences, the data displayed on computer screens will be meaningless. This book is the cure for the current dilemma of information overload.
— Michael J. Naples, President, Advertising Research Foundation
This book fills an important gap in the field of market research. It emphasizes that information providers and users should jointly bear the responsibility of achieving optimal use of market information.
— Robert B. Worden, Director of Market Research, Eastman Kodak Company