rawithan: book review # 16: What Women Want

rawithan: book review # 16: What Women Want: book review#16 what women what by Paco Underhill I just realized that I am quite a Paco fan becuase I bought almost every boo...

book review # 16: What Women Want

book review#16 what women what by Paco Underhill

I just realized that I am quite a Paco fan becuase I bought almost every book he ever written both from the topic and the writing. It’s crisps, concise and entertaining. 

This is yet again another marketing book focusing on female consumers. I have a plan to launch a new cosmetics line sometime next year thus the understanding of female consumers are crucial. Surprisingly , when I study deeper  realized that female influenced almost every major category of consumers goods. This book help me to better understand the mechanic of female human brain . By having some knowledge of this, I hope that I will be able to satisfied my customers better. 

A nice warning though, the thought of fully understanding female’s thinking process it not only outrageous but impossible. You probably experienced that already, no matter you’re a male or a female. 

Not long ago, I was out having lunch with my wife and on the way back we stopped at this nice imported car show room. While I was admiring the electric blue Nissan Fairlady-Z convertible and trying to figure out how many seconds will it take to bring this car from 0-100 km/h, my wife told me that this car has only one cup holder and a tiny trunk that wouldn’t even fit her overnight bag. These two things were probably goes unnoticed for me but definitely not for her. We end up didn’t buy the car becuase it was significantly over-budget but even if it’s was in the budget, we probably won’t get it anyway becuase of the what my wife has pointed out.  

The woman influence is interesting isn’t ?

Well, it is, in 2005 it was first time in the history that the women under the age of 30 in major American cities earn more than their men’s counterpart. Women are also hold more bachelor degree’s compare to men at the ration of 14:10. Studies also show that, with the exception of pick up truck, females influence the purchase of more than half of vehicles in the US. 

Given that fact, the book emphasize that if you are running a business that connects with people and do not find a way to “communicate” with the female users. Chances are it’s a bad business. 

The books are written in chapters, where in each chapter a type of business has been brought to discussion on how it effects on female customers and how things can be improved. Most ideas are focus on “cleanliness” “control” “safety” and “considerateness” . 

The book gives us a trend of business practice evolution in various fields such as the change of home design, the importance of new era kitchen, the evolve in role of the bathrooms (and its size) up to the hotel design and alcohol purchase behavior. 

I will give you one example which really interests me. We would have been thinking that the consumers electronics business are male’s dominated business right? ......wrong. 

the figures shows that half of all electronics purchases in the US are made by female (noted that the trend in US eventually goes global later on). But is the electronics stores female friendly? not really. However, that has changed. Again, studies shows that there is a direct correlation between the success of a store and the number of female employees working on the floors becuase women trust women more and feel less intimidated interact with one. Don’t forget that men buy instruments of technology while women buy instruments of relationship. In most part, the men’s salesman don’t get it. 

The fall of Circuit City and CompUSA might have something to do with the change of consumer’s landscape. They failed to notice that the geeky/male version of the store are no longer working with at least half of their prospect customers who wants education, interactions and the sense that she wasn’t on the verge of getting hustled wherever she turned. (imagine walking into the auto-parts section in Bangkok’s department stores)

Best Buy, on the contrary, understood what women want and tailored their business model to comply with it.  Salesperson at Best Buy will inform you right away that they do not work on commission basis and if he/she is not available another employee in the store will help them. It takes heat of the customer right away. Best Buy also have what they called a geek squad (I encourage you to google it up and learn the detail of it, it’s very interesting) which will assist the client install, set-up and organized their new purchased electronics. So the client can just sit back and relax, in no time everything will be done like plug and play. No matter how complicated those electronics equipments are. 

This book give insights on females consumers on many aspect. Anyway, it need to be tailored to each countries and businesses because the culture are different. The most important things to take of this book is that no matter what business you are in, female-friendly environment is something to be strongly considered. 

8.5/10

Cheers!

book review # 15 : The Communist Manifesto : A Modern Edition

Book Review # 15: The Communist Manifesto : A Modern Edition

Before we start let me clarify one thing to you, NO I’m not in to communism and never will be. 

Born and raised in a capitalism arena, I always wonder what is actually the core of the system I’m living in. In order to find out about that, perhaps reading something from the total extreme opposite ideal would help me to understand capitalism even more. 

That’s is the pure single idea when I bought this particular book.  Needless to say, authors of this book are prominent figure in the world’s history and we are pretty familiar with both of them. 

This is no doubt a literature that plays important part in political history of our world. When I said important it doesn’t necessary means good or vice versa. 

This manifesto was written by an extreme idealist, the content therefore was extreme. Frankly, I do not agree with most of the contents which seems narrow-minded, yet some of the contents also raised questions to me. Is capitalism have more of its flaw than we originally thought? Is capitalism the best system we have?

Anyway, readers must be warned that some part of this book is quite outrageous and provocative in nature. Some of the methodology are outdated as well. However, considered that it was written well over 150 years ago, some of the situation described in the manifesto are happening at the very moment, up, close and personal. 

The language used in the Manifesto rather elaborate which I think mainly is to stated superiority. I found it somewhat pleasant to read. 

Growing up in the wings of Democratic system,  I think it’s kind of nice to study the other side of the story as well. 

To me, It was literally a book describe an evil side of capitalism. The price majority of society have to pay for embracing capitalism as well as the price leaders have to pay to keep their positions.  

Here come the question, are we paying too much? 

Tough some part of it is obsolete, a merely other part of it is surprisingly up to date.  Perhaps it might even predict other important “ political trends” in the future as well. For example there is one part that said: 

"The conditions of bourgeois society are too narrow to comprise the wealth created by them. And how does the bourgeoisie get over these crises? On the one had by enforced destruction of a mass of productive forces; on the other, by the conquest of new markets , and by the more thorough exploitation for the old ones. That is to say, by paving the way for more extensive and more destructive crises, and by diminishing the means where by crises are prevented. " 

Surprisingly, it sounds too familiar. Oh I see, it’s what’ happen in 2008. 

Bottom line is, It’s important to study the past in order to foresee the future even from the people we totally disagree with. If you are interested in how the global power is shifted from time to time, this is definitely your book.  

Truth be told, do to the hostile and extreme content of this book, I will not give my rating as usual. 

Cheers 

Tab

Book review # 14: the 80/20 principle

Review # 14: The 80/20 Principle 

The pages in this book written by Richard Koch already turned yellowish from the fact that the last time it read it was probably 8 years ago.  The thoughts from the book, however, stays with me through the years. 

Lately I have been facing with some difficult decisions to make. In the nutshell, it’s a resources management problem. There are lots of questions going, where should I put who to work or how much different would I compensate my average staff and the outstanding one... you know stuff like that.  In one gloomy day I picked up the book and go through it all over again. Surprisingly, it’s now much more interesting than 8 years ago. 

This is the book I categorized as an awakening book (doesn’t necessary mean good book). The first time I read it,  the book somehow putting the fact of life right into my forehead. It confirms my believe that nature has its selection process and our world do organized in 80/20 principle. 

In almost every organization, 20% of employees produce 80% of profit. In almost every business portfolio, 20% of the portfolio contains 80% of profit. In almost every country, 20% of the people owned 80% of the wealth and the lists goes on and on. 

The interesting thing to notice is that in the top 20% there is also another 80/20. Meaning, in the top 20, there are 4% that product 16% of everything. And I’m sure you can imagine it goes deeper and deeper depends on how much population sample we are looking at. 

It seems that the principle itself touches every angle of life whether it’s business or personal. The important point  is that we decide to be in 80 or 20 by choice not by chance. To be more exact, it’s an accumulate of choices. Our faith is decided by few important decisions in life. Rule of thumb, the easy way usually gets you to the bottom 80. 

Everyone can achieve something but most people didn’t. It might not be about effort, it’s about finding the right thing to achieve. Most people are putting average effort into too many things rather than superior thoughts, effort  and determination in to only few important things. Also, most people spend 80% of their time into what is only 20% important to their life. You can go ask every successful people, one skill they all share is how to prioritized things. This skill is a core of 80/20 principle. 

Overall, this is quite a good book. I admit there are few overrated chapter and perhaps slight exaggeration in some context but still worth reading it. 

If you wonder,  yes, I only did skim through about 20% of the whole book. That’s all I”ll ever need!

8/10

Cheers 

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rawithan: Book Review # 13: Marketing 3.0

rawithan: Book Review # 13: Marketing 3.0: Marketing 3.0 “Marketers should target consumers’ minds and spirits simultaneously to touch their hearts.” – Philip K...

Book Review # 13: Marketing 3.0

Marketing 3.0

“Marketers should target consumers’ minds and spirits simultaneously 

to touch their hearts.” – Philip Kotler 

I just realized that I haven’t done a review on Marketing 3.0, a

impeccable work from the legendary Philip Kotler (with Hermawan Kartajaya

and Iwan Setiawan) . This book, of course, was one of the bestselling

marketing books of our time. I have read it twice already. 

Please do not be mistaken, this is not the best marketing book

ever printed. However, I do believe everyone that have career in marketing or even remotely connected to marketing should have this book on their bookshelf.  Going in to a discussion today without knowledge of Marketing 3.0 is like going to a gym without sneakers. 

In the nut shell, we are entering into the new era of marketing. According to Kotler, our world have seen marketing 1.0 as product based, 2.0 as customer-based and of course we are now in the era marketing 3.0, the value driven marketing.  The traditional way of so called marketing has lost its touch. Change is inevitable. The big question here is “change to what?“

Since the start of the new millennium, consumers have been

bombarded with information. We literally see and/or hear thousands of

commercial a day. Whether it came in form of traditional TV, radio,

billboard, POP, online media etc., it might come directly or indirectly literally too much to care. The point is all of controlled media has losses effectiveness. Word-of-mouth

becomes robust advertising medium.      

The theory of marketing 3.0 has presented fresh new

perspective where the real focus on marketing activity is at the human

spirit. The tools of marketing 3.0 are focusing on trying to be part of consumer’s life by not just to make it better but also to make it more meaningful.  It is about changing the way consumers do things in their lives. In other words, the future of marketing lies on value

management.Consumers are human beings which combined with mind heart and spirit. Therefore, the value proposition will have to cover functional, emotional and spiritual benefits. There is no place for inauthentic brands to stand in market

anymore. 

Only brands with honesty, originality and authenticity will

survive and grow. As you know, consumers actually own the brand not the

company.  

There is also the point of rising of the creative class people

which are now more and more important to the evolvement of the society.

Steve Jobs is definitely one of a very good example of Creative Class

people.  The community, tribes and group will play an important role in

developing any kind of marketing effort. 

Companies will have to strive to create the “character” in

consumers’ mind. Only those who can do will thrive.  

The book also talked about co-creation with other stake holders as well. 

Surprisingly some of the issues Kotler mentioned in this book is something

Chinese people or the Eastern world has been practicing for centuries such as the

philosophy about gratitude with long established suppliers (in this book

they used the term co-creation but the meaning is pretty much the

same.)         

I would like to list the important point Kotler stress on chapter 10 about

10 credo of marketing 3.0

1.       Love your customers , respect your competitors

2.       Be sensitive to change, be ready to transform

3.       Guard your name, be clear about who you are 

4.       Customers are diverse,; go first to those who be benefit most from

you

5.       Always offer a good package at a fair price

6.       Always make yourself available, spread the good news. 

7.       Get your customers, keep and grow then

8.       Whatever your business, it is a service business

9.       Always refine your business process in terms of quality, cost and

delivery 

10.     Gather relevant information but use wisdom in making your final

decision. 

I think all of them are very useful and I also do like no.8 in particular.

In summary, this book is a talked about a cutting edge marketing angle. If you haven’t read it yet, you should definitely do it immediately. 

My take : 9/10

Cheers

Tab