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Marketing
Demand, positioning, signals, and who decides to buy.
- Adverse selectionWhen one side of a transaction knows something the other does not, and the ignorant side's attempt to protect itself drives away the cases it wanted.ConceptsBusiness
- BundlingSelling several things together at one price rather than separately.ConceptsBusiness
- Category creationBuilding a market for a kind of thing that did not previously exist as a kind of thing, rather than competing within an existing one.ConceptsBusiness
- DifferentiationOffering something buyers can tell apart from the alternatives and will pay more for.ConceptsBusiness
- Francis BaconEnglish Lord Chancellor and philosopher (1561–1626) whose Novum Organum proposed inductive natural philosophy against the Aristotelian-Scholastic tradition, whose Great Instauration projected an encyclopedic scientific reform, and whose programmatic vision shaped the founding of the Royal Society and the institutional form of modern science.FiguresPhilosophyEarly Modern
- Ideal customer profileA description of the customers a business serves best — derived from the ones it already serves well and profitably, rather than from who it would like to sell to.ConceptsBusiness
- Network effectsWhen a product gets more valuable to each user as more people use it.ConceptsBusiness
- PositioningThe place a business occupies in a buyer's mind relative to the alternatives, including doing nothing.ConceptsBusiness
- SegmentationDividing a market into groups that differ in what they want, what they will pay, or how they buy — so that an offer can be built for one group rather than averaged across all of them.ConceptsBusiness
- SignalingDoing something expensive whose main purpose is to prove something unobservable about you.ConceptsBusiness
- Switching costsWhat a customer pays to leave you, counting money, time, risk and disruption.ConceptsBusiness
- The discount spiralThe self-reinforcing pattern in which each discount granted lowers the price the next buyer expects, so the discount that was meant to win one deal becomes the new starting point for all of them.ConceptsBusiness
- The Streisand effectAn attempt to suppress information that draws far more attention to it than leaving it alone would have.ConceptsBusiness
- What to do when one client is most of your revenueTake the money, then spend it buying independence.GuidesBusiness