Nicholas G. Carr writes, “The essential beauty of the Internet – its openness – is also its essential flaw as a platform for business. Companies achieve profits by erecting barriers around markets, locking customers in and keeping competitors out. But since the Internet was designed for communication rather than commerce, its structure frustrates attempts to raise barriers. That’s why one dot-com after another has flopped, despite massive investments to build brands, seize first-mover advantages and acquire customers.” Perhaps this is true. I would argue however that we are moving from an era where business success is measured by sheer profit not the satisfaction of people’s wants and needs, to an era where business success is measured by the degree to which businesses satisfy people’s wants and needs. This is not a bad thing. Businesses will simply have to work hard to understand their customers. Read the entire article here.
Experience Hierarchy of Needs
The Useful-Usable-Desirable Model The Experience Hierarchy of Needs is developed in the style of Malow’s Hierarchy of Needs. Maslow’s hierarchy begins with basic human needs for survival like food, shelter, safety and security. After basic Read more…