The World's Best Book Summaries
What is scarcity marketing? Why does the fear of missing out make people want to buy a product? Scarcity marketing is based on the idea that people generally want what they can’t have. If you can make your product seem scarce or difficult to acquire, customers will be more likely to want it. In this way, scarcity marketing can be a great way to increase demand for a product. Keep reading to find out how to use scarcity marketing the right way.
What sets companies with successful business strategies apart? What is a good business strategy example? Companies with successful business strategies identify a playing field where they can thrive and figure out a unique competitive advantage that helps them win. A good example is Gain, a subsidiary of P&G. Gain set itself apart from competitors in a crowded detergent marketplace by marketing its product as having a unique and powerful scent. This strategy helped the product become a billion-dollar brand. Read on to discover the secrets of companies with successful business strategies.
What are some examples of bad marketing? How can you learn from these mistakes and improve your marketing strategy? There is a lot that can go wrong when creating marketing strategies. From improper wording to emotional insensitivity and confusion, it’s important to avoid these bad marketing mistakes in your own campaigns. Here are some examples of bad marketing you can learn from.
What is the difference between technical vs fundamental analysis? Why might a combination of both be the best approach? Technical vs fundamental analysis are the two main methods of security analysis. Technical analysis aims to predict future stock prices using graphs of past price movements, while fundamental analysis opts for an in-depth study of the firms’ balance sheets, taxes, and earnings. Each approach has its advantages and disadvantages. Keep reading to find out the difference between technical vs fundamental analysis.
What is a company’s winning aspiration? Why must a company play to win? A winning aspiration is a statement of what success in the marketplace will look like to a company. Companies must always play to win because it is very difficult to win if you are only trying to compete. Companies that simply try to compete are at risk of being driven out by more aggressive competitors. Read more about the meaning and importance of having a winning aspiration for your company.
How important is a teamwork culture in your organization? What do qualities do you look for when hiring for your teams? What do you think makes a good team player? Many leaders and organizations say they want teamwork, but they can’t define what they mean by a team player or prioritize identifying team players in their hiring process. Patrick Lencioni wrote The Ideal Team Player to answer this very question: what makes a good team player? In this article, you’ll learn about the three qualities of a team player, according to author Patrick Lencioni.
What are some examples of good marketing? What tactics did these companies successfully implement? In Contagious, Jonah Berger discusses effective marketing strategies used by companies, from Apple’s earphones to the gamification of airline travel. Knowing these examples of good marketing can help you apply the lessons to your own marketing strategy and improve your approach. Learn from the examples of good marketing discussed below.
What is the cooperative business model? How does it help build a better workplace for employees? A cooperative business model is a democratic company where the enterprise is collectively owned by all the employees. Employees elect leaders, and share profits and liabilities as a group. The model creates a better workplace because the opinion of everyone counts, which makes employees happier and more engaged. Read more about how the cooperative business model works.
Are your employees natural team players—humble, hungry, and smart? What can you do to instill these qualities in your workforce? For organizations committed to a teamwork culture, the right people are ideal team players who are humble, hungry, and smart. People who are humble focus on the success of the team rather than their personal interests. People who are hungry are driven to seek more work and responsibility. And people who are smart have common sense when it comes to dealing with people—they understand where others are coming from. To help those who are significantly lacking in one of the
What is Jonah Berger’s STEPPS marketing strategy? How can understanding this help you create contagious products or ideas? In his book Contagious, Jonah Berger shares his best marketing secrets, including his STEPPS marketing strategy. This involves six powerful steps for creating contagious products and services. Understanding this strategy will help you make your product or idea compelling enough to become contagious. Keep reading to find out the six key principles of Berger’s STEPPS marketing strategy.