Absolute Value | Itamar Simonsen & Emanuel Rosen | Talks at Google
16For the first time in history, consumers have the tools to assess the absolute value of things they buy: review sites, price comparison apps and online experts now allow customers to make decisions based on almost perfect information instead of irrational perception. The implication for customers is that they are much less susceptible to manipulation than ever before. The implication for business is that branding, positioning and customer loyalty are losing relevance.
The authors reveal such surprising trends as:
The major impact of Yelp on the revenues of restaurants, retailers and other businesses
How ASUS gained significant share of the laptop market without investing in branding
Why fake customer reviews won't matter much in the long run
Why brands protect some luxury companies like Hermès more than others like Mercedes
Why even Apple's future is at risk if its product reviews don't live up to its haloed brand
How "loyal" customer followings can quickly abandon brands like Samsung in droves
Why today's consumers are less likely to make irrational choices than ever before
To help any business adapt to the approaching era, the authors introduce the Influence Mix. With this new framework, managers can determine where their products fall with respect to today's evolving shift in customer decision making, identify the right mix of sources that really influence its customers, and plan new marketing strategies around them. ABSOLUTE VALUE will change everything about the way businesses approach marketing and will show consumers how empowered they've become in an age of (nearly) perfect information.