A well-produced economic study on how technology is changing how we shop.
An erudite study on how the information age has affected the consumer purchasing experience.
Marketing and advertising professionals Simonson and Rosen (The Anatomy of Buzz: How to Create Word of Mouth Marketing, 2000) collaborate on a timely discussion of how consumer purchasing patterns have drastically changed in recent years. They attribute this radical shift to the information age’s increased availability of “perfect information,” whereby consumers have unlimited access to peer reviews, informed professional opinions (Yelp, Zagat, etc.) and specific details prior to purchasing a product. It’s a potent combination establishing what the authors call the “absolute value” of an item or service for sale. They further explore this consumer-driven concept and how it relates to marketers in three sections detailing the foundation of the marketing industry, how the customer experience is fundamentally changing and directly affecting the promotion of products, and the advertising industry’s response to that change and where its future lies. Supplemented by examples both real and hypothetical, the authors discuss how online shopping has replaced traditionally based sales trends with responsible (not “irrational”) information-fortified purchasing. This trend, however economically beneficial for consumers, forces marketers to remix and restrategize how they advertise to the public, a method Simonson and Rosen call the “Influence Mix,” an amalgam of influential sources through which to base effective marketing decisions. In other sections, the authors weigh the significance of product diversification and deliberate browsing against interpersonally communicated opinions, and they elucidate the relevance of brand proxying in today’s oversaturated marketplace. Perhaps better suited to professionals than casual readers, both Simonson and Rosen expertly channel their industry expertise into this tightly focused, contemplative analysis. The age of informed decision-making is upon us, they write, and this means more carefully evaluated choices for buyers and the ultimate challenge for marketers and advertising teams.
A well-produced economic study on how technology is changing how we shop.Pub Date: Feb. 1, 2014
ISBN: 978-0-06-221567-3
Page Count: 256
Publisher: Harper Business
Review Posted Online: Dec. 21, 2013
Kirkus Reviews Issue: Jan. 1, 2014
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.
A helpful guide to working effectively with people from other cultures.
“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.Pub Date: May 27, 2014
ISBN: 978-1-61039-250-1
Page Count: 288
Publisher: PublicAffairs
Review Posted Online: April 15, 2014
Kirkus Reviews Issue: May 1, 2014
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
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