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Hermann Simon’s Followers (36)
Hermann Simon
More books by Hermann Simon…
“What has changed in the meantime? Managers have become keenly aware that value alone does you little good unless you can communicate it successfully. That means that customers understand and appreciate what they are buying. Remember, the only fundamental driver of willingness to pay is the perceived value in the eyes of the customer.”
― Confessions of the Pricing Man: How Price Affects Everything
― Confessions of the Pricing Man: How Price Affects Everything
“Successful people in particular are susceptible to surges of anything-is-possible. They then plunge into new, seemingly attractive markets hoping to prove themselves to the world yet again. However, it is extremely rare that the same person achieves world championship or wins the Nobel Prize in two disciplines. Danger looms just around the corner if the new activity is too distracting and the core business is neglected.”
― Hidden Champions of the Twenty-First Century: The Success Strategies of Unknown World Market Leaders
― Hidden Champions of the Twenty-First Century: The Success Strategies of Unknown World Market Leaders
“The decisive factor is to supply the customer with a clear advantage when compared with the competition. Such a “strategic” competitive advantage must fulfill three criteria: it must be 1. important for the customer; 2. actually perceived by the customer; and 3. sustainable/difficult to copy. If, for example, the packaging of a product is unimportant for the customer, it is unsuitable as a competitive advantage. If a product has a particularly long life span, but the customer is not aware of this advantage or does not perceive it, this advantage cannot influence the customer’s decision to purchase and does not help the supplier. If a company ruins its margin by reducing a price, the low price advantage cannot be sustained.8 Simultaneous fulfillment of the three criteria “important, perceived, sustainable” is a significant challenge.”
― Hidden Champions of the Twenty-First Century: The Success Strategies of Unknown World Market Leaders
― Hidden Champions of the Twenty-First Century: The Success Strategies of Unknown World Market Leaders
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