The truth is that business is simple: create great products, merchandise them at the point of sale, continuously innovate and surprise, reward and achieve a position of loyalty with your front line, and seek new truth from the market. Deliver the goods at a competitive cost. Price to earn a decent but not competitively inviting return. Not much else matters.
Michael J. SilversteinFunctional goods sold en masse earn a good return but breakthrough profits come from satisfying emotional needs.
Michael J. SilversteinCompanies that get in trouble have a failure to see two realities: market trends and competitor attacks.
Michael J. SilversteinLooks do count. Deliver visually stunning merchandising. Engage at the point of sale. Help consumers shop with their eyes.
Michael J. SilversteinConsumers cannot think in abstractions. They cannot envision a new concept. They cannot predict their behavior. They can only compare against their current frame of reference. So you need to make the big leap for them. You need to provide them with a reason to buy, a reason to brag to their friends. Expect new-to-the-world ideas to fall on deaf ears. Consumers will, however, change their tune when they can see, touch, and explore.
Michael J. Silverstein