A detailed strategy focuses on making a business efficiently responsive to customers.
In his debut book, Fader (Customer Centricity, 2012) made the case that an emphasis on customer satisfaction was a superior scheme to one that concentrated on product. In this work, he and debut author Toms fully explicate the meaning of such a tactic—“customer centricity”—and argue that it’s more commonly embraced than understood. The authors define customer centricity as “a strategy that aligns the development and delivery of a company’s products and services with the current and future needs of its highest valued customers in order to maximize these customers’ long-term financial value to the firm.” A business’s patrons aren’t homogenous and shouldn’t be treated as such—some simply promise more overall value, or “customer goodness,” over time. The authors describe a “predictive measurement” that allows one to estimate the total future benefit likely generated by a consumer: “customer lifetime value.” The authors recommend and thoroughly explain, in language mercifully light on technical business jargon, a “customer relationship management” system that governs both the acquisition and retention of consumers and relies on the targeted use of available data and the efficient allocation of limited resources. In addition, they apply their assessment of customer worth to an impressively comprehensive approach to corporate valuation that essentially includes the patron base as a measurable asset. The knowledge and expertise of this authorial pair are beyond reproach: “Fader is the Frances and Pei-Yuan Chia Professor of Marketing at the Wharton School of the University of Pennsylvania,” and “Toms is executive director and cofounder of Wharton Interactive.” For such a brief monograph, an extraordinarily vast intellectual landscape is covered in a way that is easily digestible. In addition, the authors don’t shy away from shattering conventional wisdom, especially evident in their treatment of demographic segmentation and personas as marketing tools. This should become an authoritative introduction to customer-centric business strategies.
A rigorous and lucid contribution to the literature on contemporary marketing theory.Pub Date: Oct. 30, 2018
ISBN: 978-1-61363-090-7
Page Count: 136
Publisher: Wharton Digital Press
Review Posted Online: Oct. 22, 2018
Kirkus Reviews Issue: Dec. 15, 2018
Review Program: Kirkus Indie
Categories: GENERAL BUSINESS | BUSINESS | LEADERSHIP, MANAGEMENT & COMMUNICATION
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“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. 29, 2019
Kirkus Reviews Issue: Sept. 15, 2019
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SEEN & HEARD
An exploration of the importance of clarity through calmness in an increasingly fast-paced world.
Austin-based speaker and strategist Holiday (Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue, 2018, etc.) believes in downshifting one’s life and activities in order to fully grasp the wonder of stillness. He bolsters this theory with a wide array of perspectives—some based on ancient wisdom (one of the author’s specialties), others more modern—all with the intent to direct readers toward the essential importance of stillness and its “attainable path to enlightenment and excellence, greatness and happiness, performance as well as presence.” Readers will be encouraged by Holiday’s insistence that his methods are within anyone’s grasp. He acknowledges that this rare and coveted calm is already inside each of us, but it’s been worn down by the hustle of busy lives and distractions. Recognizing that this goal requires immense personal discipline, the author draws on the representational histories of John F. Kennedy, Buddha, Tiger Woods, Fred Rogers, Leonardo da Vinci, and many other creative thinkers and scholarly, scientific texts. These examples demonstrate how others have evolved past the noise of modern life and into the solitude of productive thought and cleansing tranquility. Holiday splits his accessible, empowering, and sporadically meandering narrative into a three-part “timeless trinity of mind, body, soul—the head, the heart, the human body.” He juxtaposes Stoic philosopher Seneca’s internal reflection and wisdom against Donald Trump’s egocentric existence, with much of his time spent “in his bathrobe, ranting about the news.” Holiday stresses that while contemporary life is filled with a dizzying variety of “competing priorities and beliefs,” the frenzy can be quelled and serenity maintained through a deliberative calming of the mind and body. The author shows how “stillness is what aims the arrow,” fostering focus, internal harmony, and the kind of holistic self-examination necessary for optimal contentment and mind-body centeredness. Throughout the narrative, he promotes that concept mindfully and convincingly.
A timely, vividly realized reminder to slow down and harness the restorative wonders of serenity.Pub Date: Oct. 1, 2019
ISBN: 978-0-525-53858-5
Page Count: 288
Publisher: Portfolio
Review Posted Online: July 21, 2019
Kirkus Reviews Issue: Aug. 15, 2019
Categories: GENERAL BUSINESS | PHILOSOPHY & RELIGION | SELF-HELP | BUSINESS | MOTIVATIONAL & PERSONAL SUCCESS
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