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Nextwecometocreativity.Thisoftenworkswell-creatinganattention-grappingTVcommercial,forexample,mightleadtoincreasedsales.Butitisn’talwaysagoodthing.Someadvertisingcampaignsarerememberedfortheircreativity,withouthavinganyeffectonsales.
Thishappenedafewyearsagowiththelaunchofachocolatebar;subsequentresearchshowedthatplentyofconsumersrememberedtheadvert,buthadnoideawhatwasbeingadvertised.Thetroubleisthatthecreatorderivespleasurefromcomingupwiththeidea,andwronglyassumestheaudienceforthecampaignwillsharethatfeeling.
Acompanythatbringsoutthousandsofnewproductsmayseemmorecreativethanacompanythatonlyhasafew,butitmaybetoocreative,andmakesmallerprofits.Creativityneedstobetargetedtosolveaproblemthatthecompanyhasidentified.Justcomingupwithmoreandmorenovelproductsisn’tnecessarilyagoodthing.
Andfinally,excellence.Weallknowcompaniesthatclaimthey‘striveforexcellence’,butittakesalongtimetoachieveexcellence.Inbusiness,beingfirstwithaproductismoreprofitablethanhavingthebestproduct.Amajorstudyofcompanyperformancecomparedpioneers-thatis,companiesbringingoutthefirstversionofaparticularproduct-withfollowers,thecompaniesthatcopiedandimprovedonthatproduct.
Thestudyfoundthatthepioneerscommandedanaveragemarketshareof29percent,whilethefollowersachievedlessthanhalfthat,only13percent-eventhoughtheirproductmighthavebeenbetter.Insistingonexcellenceineverythingwedoistime-consuming,wastesenergyandleadstolosingoutonopportunities.