Markets of One

by ;
Format: Hardcover
Pub. Date: 2000-03-01
Publisher(s): Harvard Business School Pr
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Summary

What does it mean "to dell?" This newly coined business verb means to mass-customize, making products only in response to actual demand. This allows a product to "go direct" to a customer, and it's what Dell Computer does instead of forcing mass-produced computers on its customers. And Dell's not alone.As Editors Jim Gilmore and Joe Pine point out in their introduction to Markets of One, mass customization is a trend that has caught on among consumer and business-to-business companies alike - think of Levi's jeans, Aramark's hospital services, Select Comfort mattresses, and Peapod or Streamline grocery delivery, to name a few. Companies customize their offerings to meet the unique needs of individual customers so that nearly everyone can obtain exactly what they want at a reasonable price. It's a paradigm shift away from the one-size-fits-all way managers have thought about markets over the past century- today, every individual customer is a market of one. This collection of ten Harvard Business Review articles chronicles the evolution of business competition from mass markets to markets of one-in other words, from creating standardized value through mass production to creating customer-unique value through mass customization. The book examines many of the resulting changes in approach to strategy and operations-for example, moving from pushing products to fulfilling individual needs, from focusing solely on market share to measuring customer share, and from marketing to the masses to cultivating learning relationships with each customer. Markets of One offers the best of the leading thinkers on the topic, exploring both the promise and pitfalls of mass customization. Practical applications are presented with examples of leading companies who successfully mass customize for markets of one. A Harvard Business Review Book

Author Biography

Carliss Y. Baldwin is the William L. White Professor of Business Administration at Harvard Business School Andrew C. Boynton is a Professor of Management and the Director of the Executive M.B.A. Program at the International Institute for Management Development (IMD) in Lausanne, Switzerland Benjamin Burnett is Vice President of The Boston Consulting Group (BCG) in Chicago Kim B. Clark is the Dean of the Faculty and the George F. Baker Professor of Administration at Harvard Business School Bob Dorf is President of the Peppers and Rogers Group Peter F. Drucker is a writer, teacher, and consultant James H. Gilmore is Cofounder of Strategic Horizons LLP of Aurora, Ohio Stephan H. Haeckel is Director of Strategic Studies at IBM's Advanced Business Institute and Chairman of the Marketing Science Institute Regis McKenna is Chairman of The McKenna Group Richard L. Nolan is the William Barclay Harding Professor of Management of Technology at Harvard Business School David K. Pecaut is Coleader of The Boston Consulting Group's global electronic commerce practice Don Peppers is Cofounder and Partner of the Peppers and Rogers Group B. Joseph Pine II is Cofounder of Strategic Horizons LLP of Aurora, Ohio Martha Rogers is Cofounder and Partner of the Peppers and Rogers Group Carl Shapiro is the Transmerica Professor of Business Strategy at the Haas School of Business at the University of California at Berkeley George Stalk, Jr., is a Senior Vice President of The Boston Consulting Group Hal R. Varian is the Dean of the School of Information Management and Systems at the University of California at Berkeley Bart Victor is the Cal Turner Professor and Director of the Cal Turner Program in Moral Leadership at the Owen Graduate School of Management at Vanderbilt University

Table of Contents

Introduction: Customization That Counts vii
James H. Gilmore
B. Joseph Pine II
Part I The Demise of Mass Markets
The Emerging Theory of Manufacturing
3(14)
Peter F. Drucker
Marketing in an Age of Diversity
17(18)
Regis McKenna
Part II Efficiently Serving Customers Uniquely
Managing in an Age of Modularity
35(18)
Carliss Y. Baldwin
Kim B. Clark
Do You Want to Keep Your Customers Forever?
53(22)
B. Joseph Pine II
Don Peppers
Martha Rogers
Is Your Company Ready for One-to-One Marketing?
75(24)
Don Peppers
Martha Rogers
Bob Dorf
Part III The Business of Mass Customization
Breaking Compromises, Breakaway Growth
99(16)
George Stalk, Jr.
David K. Pecaut
Benjamin Burnett
The Four Faces of Mass Customization
115(18)
James H. Gilmore
B. Joseph Pine II
Versioning: The Smart Way to Sell Information
133(16)
Carl Shapiro
Hal R. Varian
Making Mass Customization Work
149(18)
B. Joseph Pine II
Bart Victor
Andrew C. Boynton
Managing by Wire
167(18)
Stephan H. Haeckel
Richard L. Nolan
Executive Summaries 185(8)
About the Contributors 193(6)
Index 199

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