By Itamar Simonson, Emanuel Rosen
Going opposed to traditional advertising knowledge, Absolute Value unearths what particularly affects consumers this present day and provides a brand new framework—the effect combine, a unconditionally new state of mind approximately patron selection making and advertising, and approximately constructing greater enterprise strategies.
How humans purchase issues has replaced profoundly—yet the basic pondering purchaser decision-making and advertising has no longer. so much dealers nonetheless think that they could form consumers’ conception and force their habit. during this provocative booklet, Stanford professor Itamar Simonson and bestselling writer Emanuel Rosen express why present mantras are wasting their relevance. while shoppers base their judgements on studies from different clients, simply accessed professional critiques, rate comparability apps, and different rising applied sciences, every little thing changes.
Absolute Value solutions the urgent questions of ways to steer consumers during this new age. Simonson and Rosen indicate the old-school advertising and marketing options that have to switch and clarify how a firm should still layout its communique procedure, marketplace examine application, and segmentation process within the new atmosphere. choked with deep research, case reviews, and state-of-the-art examine, this forward-looking publication presents a wholly new state of mind approximately advertising.
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Extra resources for Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information
Through ongoing media articles and advertising campaigns. European and American regulatory reaction towards the phthalates campaign ultimately forced the plastics industry to withdraw its products. Companies producing, selling and using phthalates took a wholly unnecessary hit to their reputation and to their financial performance. Why? Because of a total failure to understand the dynamics of the issue lifecycle curve, the triggers that can escalate a risk issue out of control, and a complete inability to communicate early on and in any concerted way to offset public perception of a wildly exaggerated health risk.
4 Advocacy approach 26 Outside-in thinking Step 1: A key point of conflict is established, generally presented in simple terms. Action words are used by advocates to create a sense of urgency. Those words include unique, new, first, only, last. Step 2: Once the issue has been identified as important/urgent it requires legitimacy. This is provided through apparent scientific and technical confirmation, with action words like research, evidence, studies, tests. Step 3: The issue now has a sharp focus, and is backed up with scientific research.
There is a growing expectation, on the part of a broad range of stakeholder groups, that organizations should perform and behave in a more open, socially caring and responsible way. These principles are even more important in times of intense pressure, for example where there is a real or perceived risk to public health, safety or the environment. 3 Outside-in thinking DEALING WITH RISK The so-called ‘risk society thesis’ identifies new patterns of political and public anxiety. This conflict is being brought about by a combination of: ● ● ● ● continuous societal change and uncertainty; the remorseless pace of industrial and technological innovation; time and cost pressures that do not allow for adequate scientific evaluation of the risks versus the benefits of innovation; a trend towards greater individuality and assertive public opinion.
Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information by Itamar Simonson, Emanuel Rosen