Bezos On Marketing Research-Take Two
In a recent post, I sent you to listen to Bob Lederer talk about how Jeff Bezos does not rely on marketing research to come up with ideas like Amazon’s “Echo” product. In today’s offering, Bob offers a rather different take on the Amazon Wunderkind. While it is true that Jeff does not expect a focus group to design Alexa for him, Bezos does make extensive use of marketing research to guide his company. I love the philosophy that he espouses on the importance of customer understanding, as shown above. “Start with the customer and work backwards.”
That is very refreshing to me, since I work in the pharmaceutical industry that typically starts with its product and works forwards!!!
What kinds of MR does JB rely on? Machine learning and artificial intelligence. As any of us who get daily offerings of custom tailored “deals” knows, Amazon is the master of understanding its customers through their browsing and purchasing behavior.
Experimentation. Bezos will research the heck out of a new idea before going “all in.”
Bottom Line. While Bezos, like Steve Jobs and Henry Ford before him, is way too smart to believe that customers will directly tell him what products he should develop, he clearly believes that “starting with the customer” should be the guiding light of his marketing efforts.
I think he is correct!