Creating Markets
Just as we argued that all value is co-created, we also argue that all markets are co-created. When the effectuation process works, the result is the creation of new firms and new markets.
How do we change the way people think about your brand? Back in the 18th century, Frederick II of Prussia (also known as Frederick the Great) was looking for ways to feed his nation and lower the price of bread. He proposed the potato as a suitable new addition to the nation’s diet. But peasants resisted growing it.
Five brands, in particular, stand out for excellence in customer-centric innovation.
According to the Huffington Post, 70 percent of companies that deliver outstanding customer experience rely on customer feedback. Smart brands have long since realized that it’s customers control whether a product or service goes to market successfully.
A brand is more than just a sales pitch, it's a firms promise to its customers.
An effective brand strategy gives you a major edge in increasingly competitive markets. But what exactly does "branding" mean? Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be.
How do we change the way people think about your brand? Back in the 18th century, Frederick II of Prussia (also known as Frederick the Great) was looking for ways to feed his nation and lower the price of bread. He proposed the potato as a suitable new addition to the nation’s diet. But peasants resisted growing it.
Five brands, in particular, stand out for excellence in customer-centric innovation.
According to the Huffington Post, 70 percent of companies that deliver outstanding customer experience rely on customer feedback. Smart brands have long since realized that it’s customers control whether a product or service goes to market successfully.
A brand is more than just a sales pitch, it's a firms promise to its customers.
An effective brand strategy gives you a major edge in increasingly competitive markets. But what exactly does "branding" mean? Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be.
The end could soon be near for Kodak, and the iconic film manufacturer may have itself to blame.
Kodak is trying to move into new product lines like inkjet printers, but in the meantime it's attempting to raise cash by selling off some of the patents it's developed over the years.
On today's show: The bold experiment in capitalism that brought together an economist, hundreds of food bank directors from around the country, and, just to spice things up, a socialist.
When Susannah Morgan was running a food bank in Alaska, she always needed produce. Items like fresh oranges or potatoes. But her food bank didn't get much. Feeding America, a major supplier for food banks, assumed transporting fresh produce would be too expensive. Instead, among other things, Susannah's food bank got pickles. A lot of them. At the same time, Feeding America was flooding Idaho with potatoes.