Synopses & Reviews
Strategies for Strengthening Customer Loyalty in an Increasingly Impersonal Marketplace
"In this eye-opening and thought-provoking book, Ettenberg shows us how to navigate the rubble of the new economy with our profits, our brands, and our sanity intact."
David F. D'Alessandro, Chairman and Chief Executive Officer, John Hancock Financial Services and bestselling author of Brand Warfare
"Elliott Ettenberg's view that the next economy is driven by focus, marketing and customer orientation makes enormous sense. It also makes for a very useful book in keeping a company out of trouble."
Jack Trout, Author of Brands Big Trouble
"Wannamaker said 50% of his advertising budget was wasted but didn't know which half. Ettenberg will show you."
Chuck Peebler, Managing Director, Plum Capital
"Ettenberg raises the necessary question and offers refreshing fundamental insights."
Dick Blatt, President Point of Purchase Advertising International
"Sparing no sacred cows, Ettenberg calls it like it isand stakes out forcefully how it ought to be. Put off reading this at your own peril."
Vincent Pica ,Vice-Chairman, Voyant Corporation
"It's controversial. It's troublesome. It will keep you up at night. But you have to read it!"
Bill Turner, President, Merchandising, Marketing, Logistics. Sears Canada, Inc.
"Ettenberg's central thesis that commercial success is increasingly reliant on forging a long-term relationship between brands and customers is right on the money."
Diane J. Brisebois, PresidentandCEO, Retail Council of Canada
"The Next Economy provides a stimulus for action and a road map to the future."
Christina A. Gold, Chairman, President and CEO of Excel Communications, Inc.
"Consumers have won and are spitting out the old marketing techniques. Elliott Ettenberg plots a bold path to their pocketbooks."
Jim Cannavino, Senior IBM Vice President Retired
"If your business depends on consumers to succeed, you will surely benefit from the expert analysis in The Next Economy. This book is timely, insightful and entertaining."
Tracy Mullin, President and CEO, National Retail Federation
"All of us, whether we like it or not, are about to be participants in what historians will probably call the greatest economic restructuring since the Industrial Revolution. The journey to the Next Economy is about to begin. Will your company be ready?"
From The Next Economy
As we ride a tsunami of new technologies into the 21st century, business-as-usual has been transformed. Operations, information technology, logistics, manufacturing, distribution...All are indistinguishable from what stood in place just a decade ago.
Marketing, however, has been allowed to languish. In the race to form powerful corporate alliances, create bigger and faster products, and get them to the end user overnight, marketing remains deeply rooted in ineffective, outmoded beliefs and practices. And for many customers, it is no longer considered a primary determinant in affecting the purchase decision
The Next Economy takes you to the forefront of the increasingly high-stakes battle for the customer wallet, and provides you with a toolbox of marketing techniques designed to break through to customers in this new era. Master practitioner Elliott Ettenberg unveils new metrics for accurately measuring and increasing the productivity of marketing budgets and programs, along with revitalized systems to once again make marketing professionals responsible for the success or failure of the brands they guide.
More than just a one-trick approach for bringing a product to market, The Next Economy presents a thought-provoking, hands-on model for success in the first great economic environment of the 21st century. Guaranteed to open your eyes to today's most pressing changes, challenges, and opportunities, it describes proven methods that you can use to:
- Build brand equityto replace price as your customers' primary determinant of value
- Use quintile marketingto identify and delight your best customers at every point of contact
- Employ co-marketingto build customized solutions around each customer's wants and needs
Of all the tools available to succeed in today's economy, marketing is arguably the most important, potentially the most powerful, and unquestionably the most underutilized. Let The Next Economy help you set aside the dated and company-threatening practices of the Old Economy, take you beyond the quick-fix solutions of the New Economy, and introduce you to the customer attitudes and state-of-the-art competitive tactics of the Next Economy.
Marketing guru Elliott Ettenberg explores an emerging business trend. As baby boomers retire, history's biggest spenders will dramatically cut back, forcing retailers to fight harder in dwindling markets. To survive this power shift, The Next Economy provides strategies companies can use to prepare themselves for success in the years ahead -- giving them new and exciting ways to triumph in an ever-changing market.
A powerful new approach to building customer commitment, loyalty, and market share
Marketing guru Elliott Ettenberg has taken a close look inside scores of businesses, from traditional retail and manufacturing companies to sleek new dot-coms. What he has seen is an emerging trend that has many corporate strategists running scared. When baby boomers retire, the biggest spenders in history will dramatically cut back on spending, forcing retailers to duke it out that much harder for their shares of rapidly dwindling markets.
To survive this dramatic power shift, businesses must adopt a new marketing paradigm based not on merely satisfying the customer, but delighting the customer.
In The Next Economy, Ettenberg provides readers with just such a model and a set of powerful strategies that companies can use today to prepare themselves to thrive in the years ahead. With the help of many in-depth case studies, he schools readers in cutting-edge psychographic methods for identifying market segments in an economy driven by customer wants, rather than needs. He explains how to distinguish consumers from customers and describes proven techniques for forging long-term, highly profitable relationships with core customers. And he educates readers in the all-important "Four R's"Relationships, Retrenchment, Relevancy, and Rewardpowerful tools that can save any company.
Includes bibliographical references (p. -215) and index.
Today's "buyer's market" is just a precursor of what the next economy will bring - an era in which all middlemen, including marketers, will have to reinvent what they do to justify their continued role. The traditional "Four P's" of marketing have lost their relevance: declining customer loyalty, increasing price pressures, shrinking profits, reliance on price promotions that kill profits and the widening credibility gap between cynical customers and the brands and businesses they once trusted. In fact, Ettenberg dubs the next ten years The Decade of Solitude during which Baby Boomers, the current economic group, will retreat from the marketplace and decrease consumption. So what's a business to do to survive? Businesses will have to move from merely satisfying the customer to delighting the customer. In this text, Ettenberg offers a fresh strategy for marketers to change their habits in four crucial ways to win in the next economy.
About the Author
Elliott Ettenberg is chairman and Chief Executive Officer of Customer Strategies Worldwide, New York and former chairman and CEO of Bozell Retail Worldwide, where he developed the Transactional Advertising modelused in Bozell offices. He has spoken in North America, Europe, and Asia on strategic marketing issues, and has been featured and quoted in national media from The Wall Street Journal, USA Today and Advertising Age to CNNfn and CNBC. He can be reached at email@example.com