The World's Best Book Summaries
Why shouldn’t companies focus on selling? What should they focus on instead? What’s the ultimate goal of marketing? In his book This Is Marketing, Seth Godin explains why old marketing techniques are no longer effective. He outlines four bedrock principles to help guide successful marketing in the modern age. Continue reading for an overview of this practical book that can benefit all business leaders.
Are you wasting resources trying to reach people who aren’t interested in what you have to sell? How is permission marketing different from traditional marketing? In This Is Marketing, entrepreneur and marketing expert Seth Godin challenges conventional marketing strategies. He argues that, in today’s media-saturated world, traditional marketing techniques are no longer effective. Read on to understand the definition of permission marketing and why Godin thinks it’s preferable to older methods.
What is it about Coca-Cola’s brand that makes it so effective? What should you consider when setting a price for your product or service? According to Seth Godin, branding and price are powerful tools. Used well, they can help you align your product’s story with the story that your audience tells. In This Is Marketing, he explains how to leverage branding and price effectively. Keep reading to understand how to use these important tools to your advantage.
Should you try to sell your product to everyone? What’s the best way to allocate your marketing budget? Seth Godin says that, to be effective at marketing, you must first understand what people need and then seek to fill that need. But, you can’t be all things to all people, so you must apply focus to your marketing efforts. You have to identify your core audience and serve them well. Read more to understand what Godin means by your “smallest viable market.”
What kind of pressure should you put on customers and potential customers? How can you get them to move toward your product and not away from it? In This Is Marketing, marketing expert Seth Godin contends that effective marketing is ultimately about changing people’s lives. But, to do that, you must do the basic work of convincing them to buy what you’re selling. Read more to learn how to motivate customers to take action with insights from Godin.
What should you do first—create a product or figure out how to sell it? Why do people buy products? Everyone has problems, needs, and desires. Entrepreneur and marketing expert Seth Godin says that effective business people know how to tap into those—creating products that solve customers’ problems and fill their wants and needs. Keep reading to learn why Godin promotes problem-solving marketing.
What is Competitive Strategy by Michael Porter about? Do you want a competitive edge in the business world? In Competitive Strategy, Michael Porter demonstrates how to get your business in the lead. Doing so requires a certain level of competitiveness that puts your business first. Read below for a brief overview of Competitive Strategy.
Who makes up your smallest viable market? What do they truly want and need? Should you adjust your product story over time? In This Is Marketing, Seth Godin says that old marketing techniques no longer work. He outlines his guiding principles of marketing in the modern age: create something of value, focus on your smallest viable market, match your story to the story your audience tells themselves, and leverage word of mouth. Continue reading to learn about each of these four basic principles of marketing.
What’s the role of suppliers in marketing? How much influence do suppliers have over pricing? In Competitive Strategy, Michael Porter explains that suppliers with substantial influence can dictate pricing, product quality, and availability. For example, in the diamond industry, a few large diamond mining companies exert significant influence over jewelry manufacturers and vendors by dictating prices, setting quality standards, and restricting sales. Let’s look at the number of conditions that enhance supplier influence over a market.
How do you perform competitive market research? How can studying other businesses improve yours? According to Michael Porter’s book Competitive Strategy, researching your competitors will benefit you in two ways. First, it will enable you to create effective countermoves to their strategies. Second, it will help you anticipate their responses to your strategic initiatives. Let’s explore the insights you’ll gain by performing competitive market research.