Business School In A Box: What they don't teach at Harvard
Ranked #23,123 in Business, #272,207 overall
9 Most Dangerous Consumer Trends that affect all businesses
You want to make sure that you'll getting the most updated education when you're looking for the best business school in a box. The Business world is constanstly changing at the speed of light especially with the explosion recently of sites like facebook, myspace, youtube who have come out of nowhere to make millions and even billions for their owners.Look at the report below to see what I mean and fully understand some of the more recent business trends that have been going on.1) Decrease in Attention Span of Consumers and increase in competition for their shorter attention span
a)"Human Attention might be one of the most restrictive limitations to the promise of internet" Rand corporation
b)"Attention has become the scarce resource of the information economy." Wired Magazine
c) According to a recent research "70% of all men between 21 and 39 would give up pay for more time with their families"
d) The Good News
"The Internet is to Entrepreneurs what Radio was to records." Seth Godin
e) The Bad News
-The Average Supermarket has 45,000 products
-The Internet has 433,193,199 websites with 15 billion pages
DANGEROUS OFFLINE TRENDS
3)Effectiveness of Newspaper advertising has decreased
-Fully half of all newspaper readers are engaged in some other activity while reading
-According to the newspaper association of America, the number of people employed in the industry fell by 18% between 1990 and 2004.
-In the book "The Vanishing Newspaper", Philip Meyer calculates that the first quarter of 2043 will be the moment when newsprint dies in America as the last exhausted reader tosses aside the last crumpled edition.
-Among adults, in the decade 1990-2000, daily readership of a newspaper plunged from 52.6% to 37.5%.
-Among the young, things are much worse: in one study, only 19 percent of those between the ages of eighteen and thirty-four reported consulting a daily paper. Worse; only 9 percent trusted the information surveyed there, only 8 percent found newspapers helpful and just 4 percent thought them entertaining.
-From 1999 to 2004, according to the Newspaper Association of America, general circulation dropped by another 1.3 million
4) Effectiveness of Magazine Advertising has decreased
Magazines
-46% of all magazine readers are engaged in some other activity while reading.
-Magazine readership is down worldwide with predictions for the trend to continue with no end in sight.
-Time, Newsweek and U.S News and World Report --- continue to struggle to hold on to readers and may be moving away from print in trying different strategies to win audiences
5) Effectiveness of Radio Advertising has decreased
-New options such as mp3 players, cell phone that play music, internet radio, and satellite radio are chipping away at traditional radio
-Satellite radio subscribers are now up to 13.6 million listeners. That is more than a third higher than the 9 million reported at the end of 2005.
DANGEROUS ONLINE TRENDS
6)Your marketing can't defeat a community
Communities can build a brand, kill a brand, break a career and even influence an election. Something as simple as a blog post can have a huge affect on a business. In 2004, a bike enthusiast Chris Brennan made a post in a biking forum about an expensive kryptonite lock that he bought and how that it could be opened with a simple ball point pen. The word spread like wildfire on the Internet to the point that people actually took videos and uploaded them on to the Internet. Ten days of complaints cost Kryptonite 10 million dollars even after eventually implementing a lock exchange program.
7) You can't trick people
With all the forums, blogs and everything on the Internet word never got around faster than on the Internet.
8) There are no secrets
There are thousands of people online that have nothing better to do than to do research about all sorts of things and if you have anything to hide, they'll be the first to know.
9) Huge drops in the trust levels of consumers
-Only 14% of consumers trust ads
-60 million on do-not-call registry
-69% of consumers want ad blocking technologies
-65% of consumers feel they are constantly bombarded with too much advertising
-56% of consumers avoid buying products from companies who advertise too much
Who or what do you trust?
-Recommendations from consumers 78%
-Newspapers 63%
-Consumer opinions posted online 61%
-Brand websites 60%
-Television 56%
-Magazines 56%
-Radio 54%
-Brand sponsoring 49%
-Email I signed up for 49%
-Ads before movies 38%
-Search engine ads 34%
-Online banner ads 26%
-Text Ads on mobile phones 18%
Source: Nielsen Online Global Consumers Study April 2007
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Consider this two-hour primer a short course, highly
actionable education on how to transform yourself into
your market's dominant maven.
Here's what you'll learn:
1. Mindset shifts: The why, how, what and the
best process to follow.
2. Fast-track methods to catapult your
transformation. They'll discuss and explain at least
twenty-five powerful techniques you can put into play
-- right now.
3. Success stories you can model. Both Jay and
Rich will share their best four or five illustrative
case study successes -- to show how people, much like
you, turned themselves into their industry's leading
source of advice, talent, ideas, direction, etc.
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- PricePiece_Marketing PricePiece_Marketing Jan 28, 2008 @ 6:28 am
- Thank you for stopping by my lens Live Streaming Video. You have a great lens too with lots of good info. 5 Stars from me! If you have time check out My Other Lenses too!
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- JanaMurray JanaMurray Jan 27, 2008 @ 2:02 pm
- Yes we have entered the Attention Age. Useful information about the business trends, 5*.
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- greggbirkner greggbirkner Jan 27, 2008 @ 12:53 pm
- Great information here. I wasn't able to go to Harvard but I did obtain a MBA from the University of Utah. I appreciate what you've put together here. All the best, Gregg.
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- Vic_Goodman Vic_Goodman Jan 27, 2008 @ 11:49 am
- I agree things are changing and people are changing also. People are busier than ever and are looking for ways to free up more time. I talk more on the in a couple of my lens.
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- hughmac hughmac Jan 27, 2008 @ 5:12 am
- some very interesting and controversial stats here, hope this theme is explored further within this lens. excellent work!
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