The 24-Hour Customer (Review and Analysis of Ott's Book)
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About this ebook
This complete summary of the ideas from Adrian C. Ott's book "The 24-Hour Economy" shows that "time is money" is an outdated concept. In his book, the author explains that time is now far more important when consumers make decisions. People don’t want to spend their time on boring, repetitive tasks and companies who want to get ahead will realise the importance of this Time-Value trade-off. This summary presents four categories of business and shows how each one relates to customers' time considerations.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "The 24-Hour Customer" and discover the key to understanding the buying process of your customers.
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The 24-Hour Customer (Review and Analysis of Ott's Book) - BusinessNews Publishing
Book Presentation
The 24-Hour Customer by Adrian C. Ott1
Book Abstract
About the Author
Important Note About This Ebook
Summary of The 24-Hour Customer (Adrian C. Ott)4
1. The Time-Value Tradeoff Framework
2. The New Rules for Winning Consumer Markets Today
3. Motivation Quadrant Products – Try and create time magnets
4. Habit Quadrant Product Make everything function on autopilot
5. Convenience Quadrant Products – Be pragmatic and save people time
6. Value Quadrant Products – Lower your costs or migrate to other quadrants
7. The Future of the 24-Hour Customer
Book Abstract
MAIN IDEA
At one time, the adage time is money
reigned supreme. Today, that’s an outdated concept. Time is now much more important than money when consumers make a choice. In fact, today’s consumers make most of their purchase decisions based on time rather than product features. There are some things consumers want to spend a lot of time on (Facebook or YouTube, for many) and others which they want to spend the minimum amount of time on (routine and repetitive tasks). If you can learn how to use the limited time and attention of consumers in savvy ways, you can gain a competitive advantage over competitors who ignore this issue.
Time-Value tradeoffs factor into the vast majority of consumer decisions which get made today. Instead of fighting time and attention barriers head-on in a battle you’ll ultimately lose, become proactive in figuring out how you can use time and attention limits