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- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Kevin Maney's book: "Trade-Off: Why Some Things Catch On, and Others Don't".
This complete summary of the ideas from Kevin Maney's book "Trade-Off" shows that all of us as consumers are constantly making a choice between products which offer high fidelity and those which offer superior convenience. In his book, the author explains that it is this trade-off between conflicting forces which determines the success or failure of new products and services. This summary demonstrates how you can position yourself at either end of the spectrum in order to develop a successful product.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "Trade-Off" and discover the key to offering the best products that consumers will love.
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Seitenzahl: 35
Veröffentlichungsjahr: 2014
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Book PresentationTrade-Off by Kevin Maney
Book Abstract
About the Author
Important Note About This Ebook
Summary of Trade-Off (Kevin Maney)
1. The Fidelity vs. Convenience Trade-Off
2. Winners and Losers in the Trade-Off
3. How to Use the Fidelity Trade-Off
Book PresentationTrade-Off by Kevin Maney
Book Abstract
MAIN IDEA
All of us as consumers are constantly making a choice between products which offer high fidelity and those which offer superior convenience. It is this trade-off between conflicting forces which determines the success or failure of new products and services.
Take the music industry for example. Going to a live concert is inconvenient but the experience is very high in fidelity – it can’t be duplicated any other way. Therefore, rock stars will sell out their live concerts. At the other end of the spectrum, MP3 recordings are very low in fidelity – they offer only ten percent of the quality of a home sound system – yet people like them because they are super convenient. MP3s can be purchased online and loaded into portable playing devices.
If you want to develop a successful product, position yourself at either end of the spectrum. Make your product either extremely high in fidelity or exceptionally convenient. You can’t do both successfully. Products which have moderate fidelity and convenience will fail to win an enthusiastic audience. Go to one end of the spectrum or the other to prosper.
About the Author
KEVIN MANEY was a technology columnist and senior technology reporter at USA Today for more than 20 years. He then became a contributing editor for Conde Nast Portfolio magazine from 2007 until 2009. He also writes for Fortune, The Atlantic, Fast Company and other magazines. He is the author of two other books, Megamedia Shakeout and The Maverick and his Machine. Mr. Maney is currently an historical consultant and collaborator helping IBM plan for its 100-year anniversary in 2011. He is a graduate of Rutgers University.
Mr. Maney’s Web site is atwww.kevinmaney.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 Trade-Off (Kevin Maney)
1. The Fidelity vs. Convenience Trade-Off
In almost every industry imaginable, consumers are constantly making a choice between products which offer high fidelity and those which offer convenience. This phenomena, dubbed the “fidelity swap” is vital to latch onto and understand because it can dictate which products are worth developing and which are not. You have to decide where your products are positioned on the spectrum and act consistent with that orientation. Above all, don’t get caught out in the no-man’s-land in the middle.
Consumers are constantly making decisions which reflect this fidelity vs. convenience dynamic:
Should you go to a baseball game today in person or instead watch it on TV?Do you call someone on the phone or go to the trouble of meeting them face-to-face?Should you go for a nice meal at a fancy restaurant or get some fast food from McDonalds?Should you use your $300 noise cancelling headphones to listen to your music while you are out and about or would it be better to use those throwaway earbuds which came for free with your MP3 player?Do you go to watch a movie at the theater when it is first released or do you wait until it comes out on DVD and then watch it in the convenience of your home on your high-definition TV and home theater system?This trade-off can be charted in this way:
