Consumption Economics: The New Rules of Tech by J. B. Wood & Todd Hewlin & Thomas Lah

Author:J. B. Wood & Todd Hewlin & Thomas Lah [Wood, J. B.]
Language: eng
Format: mobi, epub
Tags: Consumption Economics: The New Rules of Tech
ISBN: 9780984213016
Publisher: BookMasters
Published: 2011-10-26T14:00:00+00:00

FIGURE 7.2 What Product Management Owns

Underlying our ability to drive micro-transactions by closing the Consumption Gap will be a much stronger commitment to the study of consumption by our product managers. Let’s call it “consumption research.” The goal is to synthesize all the reams of product usage data we will be collecting, the inputs and learning of our services and development teams, and the product manager’s own goals for promoting sticky, differentiating features into a series of Best Consumption Practices. The good news is, it’s a concept we should all be very familiar with because it is very akin to something we should all be doing today: marketing research. Here is how Wikipedia defines marketing research:

Marketing Research is “the function that links the consumer, customer, and public to the marketer through information—information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.”[1]

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