Business Management Review - Book Report/Review Example

Download file "Business Management Book Review" to see previous pages... In lucid language and entertaining style, the long time Radio Shack's selling strategist, Kornfeld, took over the audience, enticing them with the stance of a lurid wonder maker and thereby transforming the age old selling techniques into high definition field wisdom exploiting the then new avenues of consumer psychology in profitable exchange.
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The fact that one needs to display a delicious and alluring piece of cheese for getting hold of the mouse is indeed a revelation for even the expert salesman. In his book Kornfeld exploits the phenomenon of impulse purchase, duly customizes the exhibition strategy to attract clients where they easily transcend to the comfort zone of the so called best possible deal. This concept explicitly addressed by Kornfeld, even parallels, if not surpasses, the recent most phenomenon of personalized marketing strategies applying mass customization techniques, in order to pick up a highly viable faction of the broad consumer market. The effective marketing strategists would rather talk into the preferences of the consumers, in order to selectively come up with the target audience for a fateful display of his selling potentials. (Dellaert and Shyam, 2001)
A veritable hunter always goes by the gut feelings when setting the trap for his catch. Kornfeld generated the background for this hypothesis in the form of discreet well placed skits like "No Smell = No Sell" (P. 18), with an effective bottom liner clarifying the whole point behind the exemplified strategy. The selective use of marketing strategy triggering unprecedented promotion in sales is addressed in every single page of the book, covering a wide range of effective approaches from market assessment, pepping the instinctive and understanding the stereotyped buyers to personal interaction, attention and response. Kornfeld's approach saves a lot of unfocussed ordeal in getting hold of the proper group of long term buyers who have the highest chance to recur in effective future deals. The right idea of owning such veritable buyers through refocusing on their interests and preferences gives the salesman a chance to sharpen the intuitive power to effectively predict the dispositions and tendencies of the prospective buyers. Kornfeld places quite a bit of importance on this approach and suggest the presence of certain motivators that guide people to come, see and ultimately buy the desired products. There are indeed a number of motivating factors that are functional in both habitual buyers and in also in those who buy due to an impulsive behavior. While the impulsive buyers are subject to motivational surge that compels them to go for consumer products thereby supporting their self image, most buyers are under the effect of fear of not owning a particular product. (Dittmar, Beattie and Friese, 1995) Premier market analysts should try to ascertain the nature of these motivators that entice their customers to go for an effective deal. The most obvious solution cited in Kornfeld's book involves direct ...Download file "Business Management Book Review" to see next pagesRead More