In 'Trade-Off', Kevin Maney explores the intriguing concept that success often requires a delicate balance between competing priorities. He delves deep into the decisions that shape our lives and businesses, revealing how trade-offs can lead to unexpected opportunities. Through captivating anecdotes and compelling analysis, Maney illustrates that understanding these trade-offs is crucial for innovation and progress. As he challenges conventional wisdom, readers are invited to rethink what it truly means to prioritize. This thought-provoking journey into decision-making will leave you questioning the choices you make every day.
By Kevin Maney
Published: 2010
"In a world where every choice comes with a cost, understanding the art of trade-offs becomes the key to unlocking true success."
A Fresh and Important New Way to Understand Why We Buy Why did the RAZR ultimately ruin Motorola? Why does Wal-Mart dominate rural and suburban areas but falter in large cities? Why did Starbucks stumble just when it seemed unstoppable? The answer lies in the ever-present tension between fidelity (the quality of a consumer’s experience) and convenience (the ease of getting and paying for a product). In Trade-Off, Kevin Maney shows how these conflicting forces determine the success, or failure, of new products and services in the marketplace. He shows that almost every decision we make as consumers involves a trade-off between fidelity and convenience–between the products we love and the products we need. Rock stars sell out concerts because the experience is high in fidelity-–it can’t be replicated in any other way, and because of that, we are willing to suffer inconvenience for the experience. In contrast, a downloaded MP3 of a song is low in fidelity, but consumers buy music online because it’s superconvenient. Products that are at one extreme or the other–those that are high in fidelity or high in convenience–-tend to be successful. The things that fall into the middle-–products or services that have moderate fidelity and convenience-–fail to win an enthusiastic audience. Using examples from Amazon and Disney to People Express and the invention of the ATM, Maney demonstrates that the most successful companies skew their offerings to either one extreme or the other-–fidelity or convenience-–in shaping products and building brands.
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“In a world where every choice comes with a cost, understanding the art of trade-offs becomes the key to unlocking true success.”
Trade-Off
By Kevin Maney
Discover a world of knowledge through our extensive collection of book summaries.
Kevin Maney is a bestselling author, journalist, and speaker known for his insights into technology and its impact on business. His notable works include 'Trade-Off: Why Some Things Catch On and Others Don’t', which explores the dynamics of market trends, and 'The One World Schoolhouse', highlighting the future of education. Maney's writing style is characterized by its clarity, depth, and engaging narrative, making complex subjects accessible to a broad audience. His work has appeared in prominent publications, and he is a frequent commentator on innovation and technology.
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