The World's Best Book Summaries
Why shouldn’t companies focus on selling? What should they focus on instead? What’s the ultimate goal of marketing? In his book This Is Marketing, Seth Godin explains why old marketing techniques are no longer effective. He outlines four bedrock principles to help guide successful marketing in the modern age. Continue reading for an overview of this practical book that can benefit all business leaders.
What is it about Coca-Cola’s brand that makes it so effective? What should you consider when setting a price for your product or service? According to Seth Godin, branding and price are powerful tools. Used well, they can help you align your product’s story with the story that your audience tells. In This Is Marketing, he explains how to leverage branding and price effectively. Keep reading to understand how to use these important tools to your advantage.
What’s behind the growing trend of US states passing pay transparency legislation? Are the laws working as intended? What’s the future of pay transparency? A growing number of US states are implementing pay transparency laws, which require employers to list salary ranges on job postings. Though the laws have led to some improvements for workers and employers, they’ve also created some unintended, undesirable consequences. Below we’ll take a look at the pros and cons of pay transparency.
What is Competitive Strategy by Michael Porter about? Do you want a competitive edge in the business world? In Competitive Strategy, Michael Porter demonstrates how to get your business in the lead. Doing so requires a certain level of competitiveness that puts your business first. Read below for a brief overview of Competitive Strategy.
Who makes up your smallest viable market? What do they truly want and need? Should you adjust your product story over time? In This Is Marketing, Seth Godin says that old marketing techniques no longer work. He outlines his guiding principles of marketing in the modern age: create something of value, focus on your smallest viable market, match your story to the story your audience tells themselves, and leverage word of mouth. Continue reading to learn about each of these four basic principles of marketing.
What are the factors affecting the market? How does understanding these factors give you a competitive advantage? Five factors influence a market’s competitiveness and profit potential, according to Competitive Strategy by Michael Porter. Although the book was released in 1980, it’s still relevant today. Here are the factors that you need to pay attention to when you enter the market.
What’s the role of suppliers in marketing? How much influence do suppliers have over pricing? In Competitive Strategy, Michael Porter explains that suppliers with substantial influence can dictate pricing, product quality, and availability. For example, in the diamond industry, a few large diamond mining companies exert significant influence over jewelry manufacturers and vendors by dictating prices, setting quality standards, and restricting sales. Let’s look at the number of conditions that enhance supplier influence over a market.
Why is beta testing video games important? How could better beta testing have helped Diablo 3? Beta testing is when individuals are hired to play video games before they’re released. This is a crucial aspect of the game development process because the players may find bugs and glitches that developers missed. Continue reading to learn more about why beta testing is essential for a good game.
Why is supermarket food waste getting out of hand? What can be done to prevent it? US grocery stores throw out 123 million pounds of food each day. Advocates hope the newly reintroduced Food Date Labeling Act will help remedy part of the food waste problem. But time will tell whether the bipartisan-backed bill can withstand objections from the food industry. Below we’ll take a look at the history of supermarket food waste and possible remedies for the situation.
Why is the importance of consumers for a business strategy? What influence do consumers have over a market? According to Competitive Strategy by Michael Porter, influential buyers can impact what businesses offer, their pricing strategies, as well as overall market demand for products and services. For example, in the smartphone market, buyers exert significant influence due to their ability to readily switch brands. Here are the multiple conditions that increase buyer influence over a market.