CMOs make a strong case that marketing should represent the “voice of the customer” for their companies but, in my opinion, that doesn’t go far enough. We need to represent the voice of the market. Howard Schultz, founder of Starbucks Coffee famously said: “Customers don’t always know what they want. The decline in coffee-drinking was…
If want to hear lots of specific details about a TV show you missed, you may be better off asking a shy person rather than a loudmouth talking about it in the break room. According to Dutch scientist Camiel Beukeboom, introverts use more descriptive and concrete language than extroverts. Extroverts are far more likely to…
When you ask someone to do something, be sure to include the statement that they are free to choose to do it or not. Adding this phrase doubles the likelihood they will do it. A detailed analysis of more than 22K subjects in 42 separate psychology studies demonstrates this startling result. The simple act of…
What was the first fast food company?What was the first credit card company? Most people probably don’t know the correct answers are White Castle and Diners’ Club. While both companies still exist, they now have relatively small share in what has turned out to be very large markets. As I’ve previously argued, the benefits of first mover…