Costovation: Innovation That Gives Your Customers Exactly What They Want--And Nothing More

AMACOM

Narrated by Van Tracy

4 hr 46 min

Wow your customers . . . with "less." Cut costs-it's a common corporate refrain. But if you constantly slash expenditures, what happens to innovation? How can you stay competitive and satisfy customers? Costovation solves the dilemma of how to spend less and innovate more. The book's revolutionary approach broadens the definition of innovation beyond products to the business model itself. With costovation, you let go of assumptions, take a fresh look at the market, and relentlessly focus on what customers really want. Consider Planet Fitness-it grew to 7.3 million members by concentrating on casual exercisers. Those folks don't care about frills. They want easy, low-cost access to good equipment. Although it's inexpensive to run, Planet Fitness ranks highest in gym satisfaction. Gourmet grocer, Picard, sells only frozen food. With less perishable inventory, they compress costs while delighting a discerning but busy clientele. Packed with examples and interactive exercises, the book explores cost innovation strategies that work for big and small companies alike. From open innovation and cost-sharing to simplifying products and turning waste into new offerings-readers learn how rivals are carving out niches, protecting positions, and dominating industries. Innovation and cost-cutting are not opposites. Combined, they expose untapped opportunities to outsmart and underspend competitors.

Charts and checklists available in the audiobook companion PDF download.

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Additional Information

Publisher
AMACOM
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Published on
Sep 18, 2018
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Duration
4h 46m 0s
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ISBN
9781400214464
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Language
English
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Genres
Business & Economics / Management
Business & Economics / Production & Operations Management
Business & Economics / Strategic Planning
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Accompanying PDF
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Export option
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Eligible for Family Library

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In a challenging economy filled with nimble competitors, no one can afford to stagnate. Yet, innovation is notoriously difficult. Only 1 in 100 new products are successful enough to cover development costs, and even fewer impact a company's growth trajectory. So how do you pinpoint the winning ideas that customers will love? Sifting through purchasing data for clues about what might sell or haphazardly brainstorming ideas are typical strategies. But Jobs to Be Done offers a far more precise and effective approach: determining the drivers of customer behavior--those functional and emotional goals that people want to achieve. Using the Jobs method, it becomes easy to see that people don't really need a 1/4-inch drill bit, but a 1/4-inch hole. They're not just buying ice cream, but also celebration, bonding, and indulgence. This simple shift in perspective opens up new insights about your customers and a wealth of hidden opportunities. Social media newcomer Snapchat, for example, used the Jobs process to capture the millennial demographic. By reducing functionality, the company satisfied its users' unmet need to document real life, in the moment, without filters and "like" buttons. Packed with similar examples from every industry, this complete innovation guide explains both foundational concepts and a detailed action plan developed by innovation expert Stephen Wunker and his team. From unlocking customer insights to ideation to iteration, you'll learn how to: * Figure out what customers really want, even if they can't express it * Sort out valuable insights from less useful customer data * Dig into the underlying "why" of consumer behavior, not just the "what" * Target unaddressed jobs to be done that have the power to disrupt * Identify key customer segments you didn't know existed * Develop solutions that work with ingrained habits, not against them * Use a Jobs-based lens to get a broader view of the competition * Generate better ideas in brainstorming sessions and vet your solutions * Sidestep common mistakes, such as engaging in "feature wars" * Spot emerging trends that are changing how customers will behave * Work customer insights into the design process * And much more Jobs to Be Done gives you a clear-cut framework for thinking about your business, outlines a roadmap for discovering new markets, new products and services, and helps you generate creative opportunities to innovate your way to success.
Today, the industrial world is experiencing the most revolutionary change since Henry Ford's assembly line -- which forever changed the way things are made. Japanese companies are sweeping the world, as Western companies and governments struggle to find ways to emulate them.
The Machine That Changed the World points for the first time to a positive way out of this dilemma. It shows that being defeatist about the Japanese threat, and tougher protectionism, are not the answers.
This book outlines the enormous tasks facing Western companies in the 1990s and has cogent messages for Japanese firms as well, as they move abroad.
The Machine That Changed the World is based on the largest and most thorough study ever undertaken in any industry: the Massachusetts Institute of Technology five-million-dollar, five-year, fourteen-country International Motor Vehicle Program's study of the worldwide auto industry.
Twice in this century the auto industry has changed our most fundamental ideas about how to make things. Now it is doing it again. Just as mass production swept away craft production, so a new way of making things, called lean production, is now rapidly making mass production obsolete.
Lean production is the Japanese secret weapon in the industrial wars and is spreading throughout the world. If Western companies and their managers and workers are to survive in the 1990s, they must learn and adapt to lean production. Some of the smartest already have begun to do so.
Lean production welds the activities of everyone from top management to line workers, to suppliers, into a tightly integrated whole that can respond almost instantly to marketing demands from consumers. It can also double production and quality, while keeping costs down. Its adoption, as it inevitably spreads beyond the auto industry, will change almost every industry and consequently how we work, how we live, and the fate of companies and nations as they respond to its impact.
In clear and compelling terms, this book explains what lean production is, and its global implications for all of us.
A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC's Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&'s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right.

"If we don't drop our price, we will lose the deal."

That's the desperate cry from salespeople as they try to win deals in competitive marketplaces. While the easy answer is to lower the price, the company sacrifices margin--oftentimes unnecessarily.

To win deals at the prices you want, the strategy needed is differentiation. Most executives think marketing is the sole source of differentiation. But what about the sales function of the company? This commonly neglected differentiation opportunity provides a multitude of ways to stand out from the competition. This groundbreaking book teaches you how to develop those strategies.

In Sales Differentiation, sales management strategist, Lee B. Salz presents nineteen easy-to-implement concepts to help salespeople win deals while protecting margins. These concepts apply to any salesperson in any industry and are based on the foundation that "how you sell, not just what you sell, differentiates you."

The strategies are presented in easy-to-understand stories and can quickly be put into practice. Divided into two sections, the "what you sell" chapters help salespeople:

Recognize that the expression "we are the best" causes differentiation to backfire.Avoid the introspective question that frustrates salespeople and ask the right question to fire them up.Understand what their true differentiators are and how to effectively position them with buyers.Find differentiators in every nook and cranny of the company using the six components of the "Sales Differentiation Universe."Create strategies to position differentiators so buyers see value in them.

The "how you sell" section teaches salespeople how to provide meaningful value to buyers and differentiate themselves in every stage of the sales process. This section helps salespeople:

Develop strategies to engage buyers and turn buyer objections into sales differentiation opportunities.Shape buyer decision criteria around differentiators.Turn a commoditized Request for Proposal (RFP) process into a differentiation opportunity. Use a buyer request for references as a way to stand out from the competition.Leverage the irrefutable, most powerful differentiator...themselves.

Whether you've been selling for twenty years or are new to sales, the tools you learn in Sales Differentiation will help you knock-out the competition, build profitable new relationships, and win deals at the prices you want.

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