22 of 24 people found the following review helpful:
4.0 out of 5 stars
Thoughtful Perspectives on the Time Crunch and Trust Gaps, December 16, 2000
This review is from: It Takes A Prophet To Make A Profit: 15 Trends That Are Reshaping American Business (Hardcover)
This is a most unusual book. It builds on contemporary consumer research to identify some new trends that are less well covered by the broad-scale media and suggest potential ways that businesses can respond. Although its selective focus keeps it from being a primary resource for all of your trend planning, the insights from where the authors look are useful.
I have never seen a book on trends that is quite like this one. It excludes demographic changes (such as the aging population, smaller families, and delayed child bearing) but includes the consequences of those changes (such as more people taking care of elderly parents). Go figure why that distinction makes sense. My guess that this is based on C. Britt Beemer's expertise being in consumer interviewing (to a carpenter, every problem looks like a nail, and s/he hits it with a hammer).
I was also surprised by what the authors considered not well covered by the media. One of the findings is that "The Number of 'Paper Millionaires' Is Mushrooming." I doubt if anyone will find that surprising in light of the rapid growth in the stock market over the last decade and burgeoning home prices. All of those books about millionaires that sell so well also make that point.
Are any of these news to you?
"The Gap Between the Haves and the Have-Nots Is Widening"
"Community Involvement Enhances a Company's Reputation"
"American Companies Cannot Expect Employee Loyalty -- They Must Earn It!"
"Consumers Are Reluctant to Pay Full Retail Price"
"Gaming Casinos and Lotteries Have Joined America's Mainstream"
"Home Offices and Telecommuting Are Redefining America's Workplace"
"There Is a Growing Obsession with the Internet"
The book is valuable, though, in documenting the degree to which people have a time crunch (time for family vacations, exercise, reading, television, and shopping are all down) and are skeptical (they find rudeness wherever they go and are doubtful about the goodwill of those they work for and who serve them).
The book makes a great case for providing brand name goods and services that take less time, are less error-prone, come with good advice and customized attention, and are rapidly available.
Small businesses will get valuable ideas for how to fend off the national chains with better service and differentiated branding. Larger businesses will learn ways to overcome the presumption of being uncaring.
The principle of the book is to be like Wayne Gretzky, the NHL's great scorer. "I skate to where the puck is going to be, not to where it has been."
In pointing out these general trends, the authors pretty much leave it up to you to find out what you should do to respond. Some help is provided. For example, one finding is that "Today's Marketing Efforts Are Not Keeping Pace with Changing Consumer Demands," and they describe how you can conduct your own focus group with customers once a quarter to test your marketing effectiveness.
Naturally, a limit of this kind of book is that if every business pursues these same trends, then competition just meets at a new place. Greater profitability may not follow (as many dot coms found while pursuing the Internet trend described here) if competition over focuses on the new area. So be sure to develop an improved way to serve customers that others cannot easily duplicate or surpass.
You should probably read this book in conjunction with one about how to manage your business to take advantage of trends to get the most benefit.
Keep looking ahead, but notice where you are and be ready for the unexpected!
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11 of 11 people found the following review helpful:
5.0 out of 5 stars
One of the best business books I've ever read, March 7, 2001
By A Customer
This review is from: It Takes A Prophet To Make A Profit: 15 Trends That Are Reshaping American Business (Hardcover)
I read just about every business book I can get my hands on, and I just finished reading the new Beemer/Shook book. This is one of the best ever. And the best part is that there are literally hundreds of tips that I can apply to my own business.
Beemer and Shook identified 15 business trends that cover everything from investments to frequent buyer programs. In particular, I liked what they write on Trend #11--why Americans are attracted to brand name products today. I also appreciated their comments in Trend #3, about how being a good corporate citizen is not only a good thing to do, but good for business. And Trend #13 on how Americans feel invisible today is a real eye-opener.
I'm a big fan of business author Robert Shook, and Britt Beemer is one of the nation's top marketing researchers. Together they make quite a team. I loved their first collaberation, PREDATORY MARKETING, and this one tops it. I hope they team up again because they're a dynamic duo.
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7 of 7 people found the following review helpful:
4.0 out of 5 stars
A Prophet Offers Eloquent Advice for Survival, January 19, 2001
By A Customer
This review is from: It Takes A Prophet To Make A Profit: 15 Trends That Are Reshaping American Business (Hardcover)
C. Britt Beemr has been a guru in the retail sector for many years now, and his new book is full of information about the trends that are changing the retail landscape in America. To follow these trends, the authors contend, is vital to business growth and survival. Calling upon his extensive research background, Beemer names the trends and then provides the necessary steps to take advantage of these changes. Some highlights of the 15 trends include a lack of discretionary time, which means consumers have less time to shop. This lack of time leads to another trend--consumers have placed a premium on brand name products. Dual-income families are becoming single-income families, thus providing opportunities for telecommuting, part-time work, and home-operated businesses. Single-income families, mean another trend--more insistence on discount shopping, and increased demand for home improvement centers such as Home Depot. Another trend--more often these days, Americans are taking on the responsibility for their aging parents. This affects direct sales organizations such as Avon or Amway, who use part-time workers. New homes are featuring "mother-in-law" wings, and companies are providing their employees with health insurance for their parents as well as their children.
I found this book very easy to read. IT TAKES A PROPHET TO MAKE A PROFIT offers important and fascinating information that any company or business should pay attention to in order to anticipate the many changes taking place in the marketplace every day. Failure to understand these trends means more additions to the ever-growing corporate graveyard. Does anybody remember Studebaker, Eastern Airlines, Raiway Express or Gimbels?
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