Listen to the voice of the market

Author: Vincent
Publisher:
Publish Date: 2005-05-01
Features: Competitive advantage arises from the creative use of information, not from owning it! Market research itself cannot guarantee success; creatively using market information is the key to business success! This is a professional classic that fills the gaps in the field of market research, co-authored by a seasoned expert who served as the Director of Market Research and Visual Planning Execution at three Fortune 500 companies (General, Kodak, and Xerox) and the Commissioner of the U.S. Bureau of Statistics, as well as the President of the American Statistical Association, and a Harvard Business School professor, published by Harvard Business School Press. Compared to the past, businesses need to pay more attention to listening to 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 neglect or misinterpretation of market information will inevitably lose in the competition. The solutions provided in Listening to the Voice of the Market enable all managers in the company to use market information more frequently and more efficiently. Vincent P. Barabba and Gerald Z. Salterman believe: a company's competitive advantage comes more from how it uses market information than from whether it owns it. Market research itself cannot 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 Salterman explain to managers how to cultivate the two essential abilities. It 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 a 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. Of course, as the authors point out, these two abilities are closely linked. It is: "Insufficient information cannot be fully utilized, and incorrect use will waste good information." Through interviews with more than 300 company managers and researchers, Listening to the Voice of the Market gathers their experience and wisdom, and it is believed that readers will benefit greatly from it. More importantly, they will learn to create an environment where company managers are curious and questioning about their market, can use real market information to answer questions, and can make decisions leading to success based on market conditions!