Friday, May 04, 2007

Why buy Rolex and Lexus

In smart markets, the ability to process the information, not the information itself, is the scarce Resource (Rashi Glazer, Winning in Smart Markets, Sloan Review)

People do not know what to buy. They read ratings on Amazon.com. They read Consumer Reports. We want others to tell us what to buy.

The trick is to place your product above comparisons.

Many consumers, particularly at the high end of luxury market - which ironically has the most educated buyers - trust only the brand. It is the sweetest spot to be with at least one of your products in the portfolio.

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AI and ML for Conversational Economy