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- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Adrian C. Ott's book: "The 24-Hour Customer: New Rules for Winning in a Time-Starved, Always-Connected Economy".
This complete summary of the ideas from Adrian C. Ott's book "The 24-Hour Economy" shows that "time is money" is an outdated concept. In his book, the author explains that time is now far more important when consumers make decisions. People don’t want to spend their time on boring, repetitive tasks and companies who want to get ahead will realise the importance of this Time-Value trade-off. This summary presents four categories of business and shows how each one relates to customers' time considerations.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "The 24-Hour Customer" and discover the key to understanding the buying process of your customers.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 30
Veröffentlichungsjahr: 2014
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Book PresentationThe 24-Hour Customer by Adrian C. Ott1
Book Abstract
About the Author
Important Note About This Ebook
Summary of The 24-Hour Customer (Adrian C. Ott)4
1. The Time-Value Tradeoff Framework
2. The New Rules for Winning Consumer Markets Today
3. Motivation Quadrant Products – Try and create time magnets
4. Habit Quadrant Product Make everything function on autopilot
5. Convenience Quadrant Products – Be pragmatic and save people time
6. Value Quadrant Products – Lower your costs or migrate to other quadrants
7. The Future of the 24-Hour Customer
Book PresentationThe 24-Hour Customer by Adrian C. Ott
Book Abstract
MAIN IDEA
At one time, the adage “time is money” reigned supreme. Today, that’s an outdated concept. Time is now much more important than money when consumers make a choice. In fact, today’s consumers make most of their purchase decisions based on time rather than product features. There are some things consumers want to spend a lot of time on (Facebook or YouTube, for many) and others which they want to spend the minimum amount of time on (routine and repetitive tasks). If you can learn how to use the limited time and attention of consumers in savvy ways, you can gain a competitive advantage over competitors who ignore this issue.
Time-Value tradeoffs factor into the vast majority of consumer decisions which get made today. Instead of fighting time and attention barriers head-on in a battle you’ll ultimately lose, become proactive in figuring out how you can use time and attention limits to your advantage. Treat time and attention as the scarce resources they are. No matter what technology comes along in the future, there will always be no more than 24 hours in a day.
“Today, time isn’t money. Time is more important than money. It’s certainly more important than brand recognition, product features, authenticity, or most of the other factors that usually figure into an executive’s product plans. Time isn’t the only consideration for customers, but it is the most consistently overlooked and misunderstood factor driving customer decisions.”
– Adrian Ott
About the Author
ADRIAN C. OTT is CEO and founder of Exponential Edge Consulting, a firm specializing in identifying and capturing growth opportunities. Consulting magazine called Adrian Ott “one of Silicon Valley’s most respected (if not the most respected) strategists.” In addition to consulting with companies across the spectrum from start-ups to Fortune 500 entities, Adrian Ott is a columnist for FastCompany.com and chairs a Harvard Business School alumni club. Prior to founding Exponential Edge, she was an executive with Hewlett-Packard. Adrian Ott is a graduate of the Harvard Business School and U.C. Berkeley.
The Web site for this book is at www.24hourcustomer.com.
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 The 24-Hour Customer (Adrian C. Ott)
1. The Time-Value Tradeoff Framework
Consumers make purchase decisions every day based on how much time and attention they want to devote to what is being considered. When analyzed systematically, it becomes clear products and services fall into one of four quadrants:
Motivation – high time, high attentionHabit – high time, low attentionConvenience – low time, high attentionValue – low time, low attention
