New product success is often attributed to intuition. Yet, while some products born from intuition do make it big, many others crash and burn. The reason is that intuition is only one aspect of new product development. The other key ingredient of success is having a business model that outlines the ways in which new products will create market value.
This book offers a systematic approach to identifying market opportunities and developing breakthrough business models. It outlines the key principles of business model generation, presents a value-based framework for developing viable new offerings, and provides a set of practical tools for creating a meaningful value proposition that drives market success.
The business model framework outlined in this book applies to a wide range of companies--startups and established enterprises, consumer packaged goods companies and business-to-business enterprises, high-tech and low-tech ventures, online and brick-and-mortar entities, packaged-goods manufacturers and value-added service providers, nonprofit organizations and profit-driven companies.
Practical, actionable, and succinct, The Business Model is the essential reference and how-to guide for everyone seeking to achieve market success: from entrepreneurs to experienced managers, from senior executives to product designers, from those creating new market offerings to those improving on existing ones. This book is for those passionate about building great products that create market value and disrupt industries.
Author Biography:
Alexander Chernev is a professor of marketing at the Kellogg School of Management, Northwestern University. He is an expert in marketing strategy, brand management and consumer behavior. Dr. Chernev holds a Ph.D. in psychology and a second Ph.D. in business administration from Duke University. His research has been published in the leading marketing journals and has been frequently quoted in the business and popular press, including Scientific American, Associated Press, Business Week, Forbes, Newsweek, The Wall Street Journal, Financial Times, The New York Times, The Washington Post, and Harvard Business Review. Alexander Chernev has written numerous articles focused on business strategy, brand management, consumer behavior, and market planning. He was ranked among the top ten most prolific scholars in the leading marketing journals by the Journal of Marketing and among the top five marketing faculty in the area of consumer behavior by a global survey of marketing faculty published by the Journal of Marketing Education. Dr. Chernev teaches marketing strategy, brand management, and behavioral decision theory in MBA, PhD, and executive education programs at the Kellogg School of Management. He has also taught in executive programs at INSEAD in France and Singapore, at the Institute for Management Development (IMD) in Switzerland, and at Hong Kong University of Science and Technology. Professor Chernev has received many teaching awards, including the Chairs' Core Course Teaching Award, Kellogg Faculty Impact Award, and the Top Professor Award from the Kellogg Executive MBA Program, which he has received seven times. In addition to research and teaching, he is an Academic Trustee of the Marketing Science Institute and advises companies around the world on issues of marketing strategy, brand management, consumer behavior, pricing, strategic planning, and new product development. Dr. Chernev's books-Strategic Marketing Management, The Marketing Plan Handbook, and Strategic Brand Management-have been translated into multiple languages and are used in top business schools and by marketing executives around the world. He serves as an area editor for the Journal of Marketing and is on the editorial boards of leading research journals, including the Journal of Marketing Research, Journal of Consumer Research, Journal of Consumer Psychology, Journal of the Academy of Marketing Science, and Journal of Marketing Behavior. Alexander Chernev serves as an expert witness in business strategy, brand management, consumer behavior, and intellectual property matters. He has advised Fortune 500 companies on ways to reinvent their business models, develop new products, and gain competitive advantage. He is an early-stage investor and has helped multiple startups to uncover market opportunities, craft their business models, and implement their market strategy.
