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- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of John Hagel III and Marc Singer's book: "Net Worth: Shaping Markets When Customers Make the Rules".
This complete summary of the ideas from John Hagel III and Marc Singer's book "Net Worth" shows that, until now, big businesses have held the upper hand in the gathering of information about consumers. These companies have, in turn, generated sizable revenues through selling this information on to other third parties – telemarketers, database marketers and direct marketing companies. In their book, the authors explain how the advent of a digital network in the form of the Internet shifts the balance of power back to the consumer. For the first time in history, the consumer will be able to hire an agent – in the form of an ‘‘information intermediary’’ or an ‘‘infomediary’’ – to manage the collection and sale of personal information. This summary demonstrates the future consequences of this change and the key advantages it presents for customers.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "Net Worth" and gain a valuable insight into the development of e-commerce.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 33
Veröffentlichungsjahr: 2014
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Book PresentationNet Worth by John Hagel III, Marc Singer
Book Abstract
Important Note About This Ebook
Summary of Net Worth (John Hagel III, Marc Singer)
Section 1: The Infomediary Business Opportunity
Section 2: The Three Stages of Evolution of an Infomediary Business
Section 3: The Broader Business Implications of Infomediaries
Book PresentationNet Worth by John Hagel III, Marc Singer
Book Abstract
MAIN IDEA
Until now, big businesses have held the upper hand in the gathering of information about consumers. These companies have, in turn, generated sizable revenues through selling this information on to other third parties – telemarketers, database marketers and direct marketing companies. To add insult to injury, not only do the consumers themselves miss out on a share of these revenues but they are then bombarded with a host of marketing materials.
The advent of a digital network in the form of the Internet shifts the balance of power back to the consumer. For the first time in history, the consumer will be able to hire an agent– in the form of an “information intermediary” or an “infomediary” – to manage the collection and sale of personal information. The direct result is that the consumer rather than the data aggregator will then be able to share in the added-value created by the sale of that personal information.
On a broader scale, however, the infomediary will also have several other key advantages for consumers. They will give the consumers an effective, collective voice in negotiations with commercial entities, securing discounts and other financial advantages. Infomediaries will also, through becoming more and more educated on the preferences of the consumers, empower consumers to become more efficient. They will offer highly selective marketing services linked to key trigger events. the result – consumers will receive marketing that is relevant, timely and applicable to their needs rather than being subject to the current blanket the entire market style of product advertising and promotion.
And the final advantage. Infomediaries will achieve all this while protecting your personal privacy to the utmost.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Net Worth (John Hagel III, Marc Singer)
Section 1: The Infomediary Business Opportunity
Main Idea
In an information based economy, specific information about the preferences and future requirements of consumers becomes a very valuable commodity – even more so as the size of the database increases. Yet consumers still require confidentiality, and don’t want to deal with companies that will disseminate their confidential details for commercial purposes.
This creates a business opportunity for an infomediary – someone who will compile a significant amount of information about consumers, and who will then use that information to generate revenues from organizations that want to tailor their product offerings for specific market segments.
In essence, an infomediary will gather information about consumers, organize that information, sell it to the highest bidder and pay consumers a return for their participation.
Supporting Ideas
Many companies presently study their existing customers intensely to try and decipher buying patterns – in other words, they study the customers they do have to try and understand how to reach more of the potential customers they don’t have. And often, when companies gather this type of information, they then sell it to third parties – generating revenue for the information gatherer but nothing for the consumer who provided the information in the first place.
The infomediary business concept approaches this situation from the opposite direction. The key elements are:
The infomediary is a third party trusted by the consumer and acting on his behalf as an agent.The infomediary will aggregate similar information from a large number of consumers.
