The fact that companies like Toyota and Tesco and Proctor & Gamble in many of its categories have shown that you can in fact keep improving delivery on the basics, shows that it’s not just a commodity…
(Patrick Barwise)

 BACK TO BASICS  The renowned marketing Professor Patrick Barwise is a relatively rare animal, an academic with commercial instinct and pragmatism. Here he talks to Michael Warren about the ramifications of his two most recent books, ‘Simply Better’ (which won the American Marketing Association’s 2005 prize for the best recent book in marketing), and one that he is currently writing with the working title: ‘Customer Insights - Beyond Market Research’. His ability to cut through marketing myths, hype and meaningless jargon using solid reasoning reinforces his position as one of the industry’s most valued thought-leaders

Listen to other podcasts featuring Patrick

 STARRING 

• Prof. Patrick Barwise, LBS, and co-author, Simply Better
• Michael Warren, research consultant

Timeline [16m21s]
00m00s Intro.
01m18s Why the basis for ‘Simply Better’ is controversial.
02m35s Differentiation that matters.
03m53s Is ‘Simply Better’ now the received wisdom?
04m44s The objectors - Rees and Trout.
06m24s Customers rarely bother to compare all the competing brands, or use all the information available (the lack of economic rationality).
08m32s Beyond ‘thinking outside the box’.
10m33s Paddy’s new book: ‘Customer Insights - Beyond Market Research’.
13m42s Does the new approach mean greater cost?
14m23s Is ‘Insight’ puffery or something that has substance?

Notable Mentions
American Marketing Association.
Behavioural economics.
Harvard Business School Press.
Harvard Business School.
Insight.
Marks and Spencer.
Peter Drucker.
Proctor & Gamble.
Rational economics.
Research Now.
Sean Meehan.
Tesco.
Toyota.
USP.

“Differentiate or Die”, by Jack Trout and Richard Rees.

Quotes
“…the basics are what really matter to customers…and in most markets you can differentiate on the basics…” (Barwise).

“One reason the book has done well is by the time the dust has settled, people realise it’s in fact an optimistic book, a very positive book.” (Barwise).

“The rational economic model is a deliberately over simplified model. I think the trouble is that some economists don’t realise how grotesque and over simplified it is.” (Barwise).

“Very little which is sensible is completely new.” (Barwise).

“Customer complaints, everyone knows, should be a source of insight and improvement but most companies are not sufficiently exploiting that.” (Barwise).

“There’s huge importance in talking to customers directly, having senior managers spending time with customers.” (Barwise).

“…a customer insight in itself achieves nothing unless it is acted on by the people with the power to act, so that it leads to an improved product or service or whatever.” (Barwise).

“Most market researchers know the saying that managers often use research as a drunk uses a lamp post, for support not illumination!” (Barwise).

Music Theatrimus from the PMN

Thanks to Jo Bowman, freelance media and marketing journalist, for her dulcet tones in the intro and outro.

Series:MarketingTalk