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Pentium III 800MHz: $42,893.00/#Hermes Scarf: $1,964.29
Saving Private Ryan on DVD: $874.75Mercedes-Benz: $18.98Hot-rolled steel: $0.19
Source: Fortune (3.20.00)
NOW THAT’S B-I-G!
“The period 2000-2002 will bring the single greatest change in
worldwide economic and business conditions since we came down from the trees.”
David Schneider & Grady Means, MetaCapitalism
Jacques’ New New Ford
Ford + MSN CarPointFord + Yahoo!
Ford + Oracle [Now Covisint]
Ford + HP/WorldcomEtc.Etc.
Forget > Learn
“The problem is never how to get new, innovative thoughts into your mind, but how to get old ones out.”
Dee Hock
Cisco, Dell =
Brand-owning companies who sell Customer
Satisfaction
Source: David Schneider & Grady Means, MetaCapitalism
Characteristics of the “Also Rans”
“minimize risk” “respect the chain of command” “support the boss” “make budget”
Source: Fortune on “most admired global corporations” (10/26/98)
“When land was the scarce resource, nations battled
over it. The same is happening now for talented people.”
Stan Davis & Christopher Meyer, futureWEALTH
“The leaders of Great Groups love talent and know where to find it. They revel in the talent of others.” Warren Bennis & Patricia Ward Biederman
“We believe companies can increase their market cap 50 percent in 3 years.
Steve Macadam at Georgia Pacific changed 20 of his 40 box plant managers to put more talented, higher paid managers in charge. He increased profitability from $25 million to $80 million in 2 years.”
Ed Michaels, War for Talent (05.17.00)
Home Depot Goes Long!
7 new growth initiatives ($20B to $100B in 5-7 years)
Arthur Blank: BEST PERSON IN THE WORLD TO HEAD EACH
INITIATIVE
E.g.: COO of IKEA to head international expansion
Ed Michaels, War for Talent (05.17.00)
“A good plant engineer in a paper mill may create $100K to $300K in value per year. An
outstanding software product developer may create a product worth $1M to $300M. Talented people are less likely to wait their turn. We
used to view young people as trainees; now they are authorities. Arguably this is the first time the older generation can –
and must – leverage the younger generation very early in their careers”
Ed Michaels, War for Talent (05.17.00)
“Top performing companies are two to four times more likely than the rest to pay what it
takes to prevent losing top performers.”
Ed Michaels, War for Talent (05.17.00)
Dudes With ’Tude“Our business needs a massive transfusion of talent. And talent, I believe, is most likely to be found
among non-conformists, dissenters and rebels.” David Ogilvy
The New Economy …
Shout goodbye to “command and control”!
Shout goodbye to hierarchy!
Shout goodbye to “knowing one’s place”!
Women’s Stuff = New Economy Match
Improv skillsRelationship-centric
Less “rank consciousness”Self determinedTrust sensitive
IntuitiveNatural “empowerment freaks” [less
threatened by strong people]Intrinsic [motivation] > Extrinsic
It’s Girls, Stupid!
1996: 8.4M women, 6.7M men in college (est: 9.2 to 6.9 in 2007); more women than men in
high-level math and science courses
More girls in student govt., honor societies; girls read more books, outperform boys in artistic and musical ability, study abroad in
higher numbers
Boys do rule: crime, alcohol, drugs, failure to do homework (4:1)
Source: The Atlantic Monthly (May2000)
Quality Not Enough!
“While everything may be better, it is also
increasingly the same.”Paul Goldberger on retail, “The Sameness
of Things,” The New York Times
“The ‘surplus society’ has a surplus of similar companies, employing similar
people, with similar educational backgrounds, coming up with similar ideas, producing similar things, with similar prices and similar quality.”
Kjell Nordstrom and Jonas Ridderstrale, Funky Business
Enron: $400B in annual on-line trading transactions. [50% total bus.] Much stimulated by the
Web per se.
Schwab: $25B per week in asset transactions [80% of trades]
[Transition to e.Schwab: Rev. fell, then quickly doubled]
Oracle: Service Call Center
$300.00 per transaction to $1.50
Savings: $550,000,000.00
Source: Ralph Seferian, Oracle [part of O’s $1B saving – on a rev. base of $9B; $1B addnl. this year]
Tomorrow Today: Cisco!
87% of $20B(Cisco Connection ONLINE)
Save $500M(service and tech support)
C.Sat e >> C.Sat HCustomer Engineer
Chat Rooms/Collaborative Design ($1B “free” consulting)
Welcome to
D.I.Y. Nation!“Changes in business processes will emphasize self service. Your costs as
a business go down and
perceived service goes up because customers are conducting it
themselves.” Ray Lane, Oracle
“In the network economy, the Website becomes the company’s primary interface to the customer.
The user interface becomes the marketing materials, store front,
store interior, sales staff and post-sales support all rolled into one.”
Jakob Nielsen, Designing Web Usability
“Most companies would do more business on the Internet if they
fired their entire marketing department and replaced it with
people who could produce interactive content that actually made it easier for users to buy.”
Jakob Nielsen, Nielsen Norman Group
Case in Point …
L.L.Bean’s incredibly awful, amazingly
pathetic, hopelessly misleading, purely putrid
“Web site” (TP 08.01.2000)
“One cannot be tentative about this. Excuses like ‘channel
conflict’ or ‘marketing and sales aren’t ready’ cannot be allowed. Delay and you risk being cut out of your own market, perhaps not by traditional competitors but by companies you
never heard of 24 months ago.”
Jack Welch [07.00/Forbes.com]
“It’s better to be first with less than last with more. Success on
the Web isn’t just about time to market, it’s also about
‘time to learning.’ ”
Jeff Levy, eHatchery
#1: ANY IDIOT WHO THINKS CONSUMERS ARE GOING
TO GIVE UP THE IN-STORE SHOPPING
EXPERIENCE FOR THE INTERNET IS JUST THAT.
AN IDIOT.
#2: ANY IDIOT WHO THINKS WE ARE STILL GOING TO
BE HANGING OUT IN STORES 15 YEARS FROM
NOW IS JUST THAT. AN IDIOT.
TP: ANY IDIOT WHO THINKS THEY KNOW WHICH ONE
OF THE ABOVE TWO STATEMENTS IS TRUE IS THE BIGGEST IDIOT
OF ALL.
Defense-Offense: Systems Integration/HVA
Delphi, DanaUnited Technologies,
Corning, GE, Sun, Bud …
[Anybody in their right mind!]
E.g. …
GE: boxes [transformers, etc.] to “air traffic controllers of electrons”
UTC/Otis + Carrier: boxes to “integrated building systems”;
P&W, etc.: boxes to major aircraft subsystems
Hospitality World Translation:
You are responsible, in my mind,
for … THE TURNKEY TRAVEL EXPERIENCE … and I don’t discriminate among
who provides what.
Hotel in Las Vegas
MY STAY HAS BEEN LOUSY!
YOUR PROBLEM: A GROTESQUE START. To wit: 1 hour, 7 minutes in an airport cab line @ 10:30 P.M.
(1:30 A.M. EDT)
All Equal Except …
“At Sony we assume that all products of our competitors have basically the same
technology, price, performance and
features. Design is the only thing that differentiates one product
from another in the marketplace.”
Norio Ohga
Drop-dead Charm!
“The new Beetle fails at most categories. The only
thing it doesn’t fail in is drop-dead charm.”
Jerry Hirshberg, Nissan Design International
Design as Soul
“We don’t have a good language to talk about this kind of thing. In most people’s
vocabularies, design means veneer. … But to me, nothing could be further from the
meaning of design. Design is the fundamental soul of a
man-made creation.”Steve Jobs
“Experiences are as distinct from services as services are from
goods.”Joseph Pine & James Gilmore, The
Experience Economy: Work Is Theater & Every Business a Stage
“The [Starbucks] Fix” Is on …
“We have identified a ‘third place.’ And I really believe that sets us apart. The third place is
that place that’s not work or home. It’s the place our
customers come for refuge.”Nancy Orsolini, District Manager
Experience: “Rebel Lifestyle!”
“What we sell is the ability for a 43-year-old accountant to dress in black leather, ride
through small towns and have people be afraid of him.”Harley exec, quoted in Results-based
Leadership
“Car designers need to create a story. Every car provides an
opportunity to create an adventure. …“The Prowler makes you smile. Why? Because it’s focused. It has a plot, a
reason for being, a passion.”
Freeman Thomas, co-designer VW Beetle; designer Audi TT
?????????
Home Furnishings … 94%Vacations … 92%
Houses … 91%Bank Account … 89%
Health Care … 75%Etc.
48% working wives > 50%80% checks
61% bills53% stock (mutual fund boom)
43% > $500K95% financial decisions/
29% single handed
Women … 51% of Web users; 6 of 10 new users; 83% of wired women are primary decision makers for family
healthcare, finances, education.
Source: Business Week (11-99);
Jupiter Communications (8-00)
Carol Gilligan/ In a Different Voice
Men: Get away from authority, familyWomen: Connect
Men: Self-orientedWomen: Other-oriented
Men: RightsWomen: Responsibilities
FemaleThink/ Popcorn
“Men and women don’t think the same way, don’t communicate the same
way, don’t buy for the same reasons.
“He simply wants the transaction to take place. She’s interested in creating a relationship. Every place women go,
they make connections.”
Women and Healthcare
Women are … more dissatisfied, frustrated by the way they are treated
and spoken down to by physicians, seek more information, are more pressed for time … and make 75% of health care decisions and control 2/3 of health care $
$$$ [and constitute 2/3 of health care employees].
Source: Patricia Braus, Marketing Healthcare to Women
Women and Financial Advisors
Women want … a plan, to be listened to, to be taken seriously, to read about it, to think about it.
Women do not want … an in-your-face sales pitch
Source: Kathleen Boyle, Wheat Boyle Butcher Singer
“Women Beat Men at Art of Investing”
Source: Miami Herald, reporting on a study by Profs. Terrance Odean and Brad Barber, UC Davis (Cause: Guys are “in and out” of
stocks more often; women choose carefully and hold on for the long term)
Marketing to Women: Help Them Save Time!
80% … work86% … cook
58% … run errands with kids38% … take child to school
21% … go to the gym21% … take outside classes
“Women and men use the Web differently. Women are more
pressed for time. For them, the Internet is really a productivity tool. … Men tend to spend more time on
line just playing around.”
USAToday, 08.09; Media Metrics/Jupiter Communications
How Many Gigs You Got, Man?
“Hard to believe … Different criteria”
“Every research study we’ve done indicates that women really care about the relationship with their
vendor.”
Robin Sternbergh/ IBM
Not a Morality Play!
“It is critical that we all understand that IBM is not marketing to women
entrepreneurs because it is the thing to do, or even the right thing to do.
We are marketing to women entrepreneurs because it is a huge
opportunity.”
Cherie Piebes
27 March 2000: email to TP from Shelley Rae Norbeck
“I make 1/3rd more money than my husband does. I have as much financial
‘pull’ in the relationship as he does. I’d say this is also true of most of my women
friends. Someone should wake up, smell the coffee and kiss our asses long enough
to sell us something! We have money to
spend and nobody wants it!”
Brand It! Now, More Than Ever!
“The increasing difficulty in differentiating between products and
the speed with which competitors take
up innovations will assist in the rise and rise of the brand.”
Gillian Law and Nick Grant, Management [New Zealand]
What Can [Can’t] Be Branded?“Branding is not a problem if you have the right mentality. You go to your team and
you pin up a $200 Swiss Army Watch. Competing in the ridiculously crowded
sub-$200 watch market, they made it into a brand name, named after the most
irrelevant and useless thing in history [the Swiss Army]. And you say, ‘Gang, if they
can do it, we can do it.’ ”
Barry Gibbons
Scott Bedbury/ Nike, Starbucks
“A Great Brand taps into emotions. Emotions drive most, if not all, of our decisions. A brand reaches out with a powerful connecting experience. It’s an
emotional connecting point that transcends the product.
“A Great Brand is a story that’s never completely told. A brand is a metaphorical story that
connects with something very deep - a fundamental appreciation of mythology.
Stories create the emotional context people need to locate themselves in a larger experience.”
Brand = You Must Care!
“Success means never letting the competition define you. Instead you have to define
yourself based on a point of view you care deeply about.”
Tom Chappell, Tom’s of Maine
“In the funky village, real competition no longer revolves
around marketshare. We are competing for attention –
mindshare and heartshare.”Kjell Nordstrom and Jonas Ridderstrale,
Funky Business
Rules of “Radical Marketing”
Love + Respect Your Customers!Hire only Passionate Missionaries!Create a Community of Customers!
Celebrate Craziness!Be insanely True to the Brand!
Sam Hill & Glenn Rifkin, Radical Marketing (e.g., Harley, Virgin, The Dead, HBS, NBA)
Brand Leadership!
“A key – perhaps the key – to leadership is the effective
communication of a story.”
Howard Gardner Leading Minds: An Anatomy of Leadership
“Create a Cause, not a ‘business.’ ”
Gary Hamel, Fortune (06.00), on re-inventing a company (Exemplar #1:
Charles Schwab)
“Leadership is a performance. You have to be
conscious of your behavior, because everybody else is.”
Carly Fiorina