The Next Economy

The Next Economy

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Within the next decade, customers, who already hold the lion's share of economic decision-making power, will be in total control of what is sold, how, where and why. Today's buyer's market is just a precursor of what The Next Economy will bring - an era in which all middlemen, including marketers, will have to reinvent what they do to justify their continued role. The traditional Four P's of marketing have lost their relevance: declining customer loyalty, increasing price pressures, shrinking profits, reliance on price promotions that kill profits and the widening credibility gap between cynical customers and the brands and businesses they once trusted. In fact, Ettenberg dubs the next ten years The Decade of Solitude during which Baby Boomers, the current economic group, will retreat from the marketplace and decrease consumption. So what's a business to do to survive? Businesses will have to move from merely satisfying the customer to dellghting the customer.One recent Dell customer (Ia#39;ll call him Tim) had a small but tricky problem with his new laptop. ... Rather than having to lug his computer to a repair shop or crate it for a 2 -week stay at a service center, Tim got it fixed online quickly and at noanbsp;...

Title:The Next Economy
Author: Elliott Ettenberg
Publisher:McGraw-Hill Companies - 2003-01

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