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Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information
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Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information

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3.50  ·  Rating details ·  134 ratings  ·  20 reviews

Going against conventional marketing wisdom, Absolute Value reveals what really influences customers today and offers a new framework—the Influence Mix, a totally new way of thinking about consumer decision making and marketing, and about developing more effective business strategies.

How people buy things has changed profoundly—yet the fundamental thinking about consumer d

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Kindle Edition, 256 pages
Published February 4th 2014 by HarperBusiness (first published January 28th 2014)
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Start your review of Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information
Matt Bodien
Naturally, a book that argues that brands are going extinct caught my eye.

Fortunately (for the sake of my career), the authors miss a crucial point about the role of brands that cripples this morbid hypothesis. I'll get to that in a moment. First their thesis:

In a nutshell, the the authors argue that thanks to the likes of Yelp, TripAdvisor, and online reviews on...everything, consumers will be able to easily identify the "Absolute" Value of a product or service, rather than have to make a deci
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Bill Yeadon
This book was written in 2014 and is at a disadvantage when writing about Amazon, Yelp, Google and other review sites, as they change so quickly. But in this case, it may be the opposite. The authors believe that the idea of emotion over logic and even branding and loyalty may be diminished due to the power of internet reviews. This really flies in the face of current thoughts on the power of emotions on decisions.

Simonson and Rosen divide purchase choices into three ideas:
P is for previous beli
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Celeste de Jesus
This is an amazing book, highly recommended to marketers who have doubts and questions about traditional marketing practices. Wow, this book cleared a lot of doubts in my head, old beliefs that still plague many organisations. Really great insights and factual examples. Amazing writers!
Xianzi Piao
Aug 20, 2019 rated it really liked it  ·  review of another edition
The author thinks Brand name value is less powerful than other period. Customer doesn't believe the information from the brand, They believe the truth. (They distinguish fake marketing treats from truth value) ...more
Nate
Well written, easy to read, but mostly common sense ideas about the new importance of product reviews and information over days of the past when branding and pretty advertisements held more weight.

Some gaping holes: This book assumes reviews are a quality gauge for others, but he ignores the demographics of the reviewers themselves. He mentions Yelp several times, but the #1 seafood restaurant in Chicago according to Yelp is at Navy Pier, which is a tourist trap; the #1 steak restaurant is a pa
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Matias Koskinen
Oct 03, 2018 rated it liked it
I will use this framework to refine my work.

The book had a bit sluggish start but evolved to a solid discussion. Presented an interesting point of view about marketing as well as provided an useful framework for marketing.
Sarah
Aug 05, 2020 rated it really liked it  ·  review of another edition
Useful information, a bit repetative
Melissa
If you’ve ever used a GoodReads.com review to decide whether or not to read a certain book, you’re one of the consumers Itamar Simonson and Emanuel Rosen discuss in their book Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information.

In their book, the authors seek to portray how beliefs about marketing and decision-making are changing due to the availability of reviews online. Simply put, we, as consumers, are able to determine the absolute value of a product
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Soundview Executive Book Summaries
Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information by Itamar Simonson and Emanuel Rosen was chosen by Soundview Executive Book Summaries as one of the Top 30 Business Books of 2014.

THE SOUNDVIEW REVIEW:

It used to be that if you were selling consumer goods your field of play was limited to the shelf space immediately to the right and left of your item. People could compare packaging, price and quantity to determine if your item was worth their money and at
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Timothy Chklovski
This is a review from of the book from the perspective of a value investor trying to learn more about power of brands.

Strong consumer brands of inexpensive, high volume items provide some of the most reliable abnormal returns on capital, which can be also rewarding to long-term shareholders, especially those able to further take advantage of the predictability of returns. Think Coca-Cola and its march towards million-fold growth in market-cap over 150 years.
This is among core tenets of students
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Bucket
The authors reveal their new marketing and branding framework based on "the influence mix." This is whether customer segments are most influenced by P (prior knowledge), M (marketers), or the amorphous O (others, which includes reviews, word of mouth, recommendations).

Their premise is that more and more industries are becoming O industries because the availability of real information direct from consumers about a product's quality and product experiences is growing rapidly. This means that cons
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Hannamari
The book is based on refreshing ideas finally questioning the role of marketing in the era of abundant available information online. The main thesis of the book is that old marketing efforts are becoming less effective as people have access to ever more information and reviews online, and hence can predict the "absolute value" the products they consider buying will give them. The book contains several great insights, and even gives advice to marketers working with these kinds of producs - mainly ...more
Nick
Jun 27, 2014 rated it really liked it  ·  review of another edition
The authors of Absolute Value want you to understand that the Internet world of information about people, products, and services allows for near-perfect information to be known about you and your business. So you’d better start paying attention to what other people are saying about you. Also, you’d better turn out a good product. This idea is of course not new, but I like these authors’ taxonomy of P, O, and M – where P is an individual’s prior beliefs about something, O is what other people are ...more
Kenny Oyama
I'm a big fan of Itamar's academic work, but unfortunately the contents of this book were better suited as an HBR-style article rather than a full-length book. The book covers behavioral decision theory research stemming from Kahneman and Tversky in the 1970s until now and shows how consumer decision-making isn't as prone to cognitive biases as previously shown. Available and easily-accessed information allows people to make more-informed decisions while still relying on heuristics.

Although I d
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Theresa
Apr 10, 2014 rated it really liked it  ·  review of another edition
A useful read for anyone going into business, especially marketing. This book explains how marketing tactics need to change due to the accessibility of information about products on-line. Branding and personal recommendations are mostly out while well researched decisions are in. The book is readable and the authors consider related topics such as the impact of fake reviews and the ability to access relevant information.
Nathan
Consumers today are accessing information and making purchases in fundamentally different ways than they did just a few years ago. They're frequenting online review sites, reading expert opinions and turning to more trusted sources of information. But most marketers are still acting like they have more impact than they really do. Absolute Value shows why they're deluding themselves and how marketing is changing rapidly. This is a must read for anyone in business today. ...more
Daniel
Apr 16, 2014 rated it it was amazing  ·  review of another edition
Anyone who uses Goodread must agree with this book 'Absolute Value'. Widespread use of user-review sites are changing how we decide on reading a book, booking a hotel, buying a car, and visiting a restaurant. Well written and engaging. ...more
Dunrie
May 01, 2014 rated it really liked it  ·  review of another edition
Shelves: business, nonfiction
Informative, actionable, and a quick read.
Doddette Tallytalbot
This book is perfect for the anyone who wants to open and business or has a business and wants to understand how customers are influenced!
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