Functional goods sold en masse earn a good return but breakthrough profits come from satisfying emotional needs.
Michael J. SilversteinDeliver infinite growth having your customers talk about you, exclaim you and tell their friends and colleagues about you.
Michael J. SilversteinTime is a big enemy. Companies have a tendency to drift and to do what was successful yesterday. CEOs need to set a high goal, enforce a time-based output scheme and stay connected all the way down in their organization. They have to do this sincerely every day, everywhere.
Michael J. SilversteinA curious mind does not jump to conclusions but tests carefully and thoroughly. A curious mind will draw on all of life's experience to get to the big "uh huh." The curious cut the data by quintile, by segment, and by user.
Michael J. SilversteinDon't ask your customers what they want. This rule is based on the view that they probably don't know. You have to fully understand them, the context for their needs and their major dissatisfactions.
Michael J. SilversteinThe 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. Silverstein