Listening to the Voice of the Market: How to Increase Market Share and Satisfy Current Customers

Features

• Challenges the simplistic notion that there is a singular voice, when is most cases, organizations actually target multiple segments, each having a voice
• Argues that the voice of the market is best captured in the metrics of customer value – the interaction between the critical to quality factors and the price that the market is willing to pay to get these CTQs
• Taken together, The Voice of the Market and customer value provides a compelling combination of ideas that will reshape the way organizations think about their business

Summary

Typically, when companies want to improve their products, they go to their customers. But why not reach further and explore the entire market? In this eye-opening book, Eric Reidenbach goes beyond the "voice of the customer" that so many consultants talk about to introduce you to a groundbreaking concept: the Voice of the Market.

Like most business people in this global marketplace, you are searching for that edge that will help you increase market share. In this book, Dr. Reidenbach, teaches you how to identify, and capture the Voice of the Market and then use that data and a new understanding of it to make your organization market-focused. It is not about hijacking customers with one-time special pricing. Instead, it is about applying the proper tools and processes to move your organization from a production or sales orientation to a truly market-based focus.

Listening to the Voice of the Market: How to Increase Market Share and Satisfy Current Customers is not for the lazy entrepreneur. Of course, interviewing internal customers is much simpler and probably less painful than probing the thoughts of those customers who have so far eluded you. But with this book as your guide, you will develop surveys that are more than skin deep, learn how to deliver them to the right people, collect information that is useful, and then turn that information into action steps that will help you cultivate customers who feel listened to, which is the first and most obvious step in building loyal relationships.

About the Author

R. Eric Reidenbach, Ph.D., is principal and founding partner of Market Value Solutions, Dr. Reidenbach has pioneered the development of techniques in value analysis, customer retention, and value linkages to Lean and Six Sigma. He has extensive experience in marketing research, measurement, instrumentation, and modeling. Dr. Reidenbach received a Ph.D. in marketing from Michigan State University. He also has a strong consulting background. In addition to MVS clients, he has also served the Pentagon, the Naval Research Labs, Walt Disney World, Benetton Spa (Italy), and McDonald's. Work for these clients ran the gamut from development of value-based instrumentation to the deployment of value-driven systems to enhance organizational productivity.

Dr. Reidenbach is the author or co-author of 18 books on marketing research, marketing management, and marketing planning, and has authored over a hundred journal articles in the field of marketing and measurement. His books have been translated into numerous languages. His most recent book is Six Sigma Marketing: From Cutting Costs to Growing Market Share from ASQ's Quality Press (2009).