Dua Fungsi Dasar Yang Tentukan Keberhasilan Bisnis | Business Hack Course Eps 2

Summary

This video introduces a series aimed at entrepreneurs and corporate investors, focusing on the importance of innovation and marketing for business growth. The hosts discuss how innovation, defined as creating value for customers, can drive success, with examples like functional backpacks and engaging food or training services. Marketing is equally crucial for communicating this value effectively to customers. The video emphasizes both functional and emotional value, illustrating how combining these elements can lead to higher customer willingness to pay. The series will further explore how to choose the right business, product, and market for success.

Takeaways

• 😀 Innovation and marketing are the two main components of business success, according to Peter Drucker.
• 😀 Innovation involves creating value for customers, focusing on solving problems and meeting needs, not necessarily high-tech products.
• 😀 Marketing is critical for communicating the value of a product or service to customers, making sure it reaches the right audience.
• 😀 Even a great product won’t succeed without effective communication of its value, as shown by the example of Otto Rider's bread slicer.
• 😀 Businesses should aim to provide both functional and emotional value to their customers for a higher perceived value.
• 😀 Emotional value can be added by associating products with a lifestyle or celebrity, which can increase their appeal and price point.
• 😀 An example of emotional value is Starbucks, where the experience of enjoying coffee is more important than the coffee itself.
• 😀 Combining functional and emotional value leads to products that not only solve problems but also create an emotional connection with customers.
• 😀 Innovation and marketing must work together; a great product won’t succeed without the right marketing strategies.
• 😀 To grow a business, focus on offering high-value products that are both useful and emotionally resonant with customers.
• 😀 Communication of value is key: customers need to understand the value of a product before they are willing to purchase it.

Q & A

What are the two key components of business success according to Peter Drucker, as mentioned in the video?

According to Peter Drucker, the two key components of business success are innovation and marketing. Both must be effectively executed to drive business growth.

What does innovation mean in the context of business as discussed in the video?

In the context of business, innovation refers to the ability to create value for customers. It’s not necessarily about advanced technology, but rather about delivering something valuable that solves a problem or enhances the customer's experience.

Can you provide an example of innovation in products from the video?

An example of product innovation discussed in the video is a backpack designed with durable material, multiple compartments, water resistance, and other features aimed at making it more functional and valuable for the customer, such as a special pocket for a phone or laptop.

How is innovation linked to the customer experience in services?

Innovation in services is demonstrated through engaging and non-boring content, like training sessions that are designed to be dynamic and interesting. The value added here is the enhancement of the customer’s learning experience, making it more enjoyable and effective.

Why is marketing as important as innovation in business?

Marketing is crucial because it ensures that the value created through innovation is communicated effectively to customers. Without good marketing, even the best products or services can go unnoticed, reducing their potential impact.

Can you provide an example of a marketing failure from the video?

A marketing failure highlighted in the video was the case of the bread-slicing machine invented by Otto Röder. Despite its potential value, the machine didn't sell well because the inventor failed to communicate its value effectively to the market, causing a delay in its success.

What is the difference between functional and emotional value, as discussed in the video?

Functional value refers to the practical features and benefits of a product, such as durability or usefulness. Emotional value, on the other hand, is how a product or service makes the customer feel, such as the status or experience it provides. Both types of value are important in creating a high-value offering.

How does emotional value impact customer willingness to pay more for a product?

Emotional value can increase a customer’s willingness to pay more for a product, even if similar products are available at a lower price. For instance, brands like Starbucks or Apple offer emotional value through premium experiences, making customers feel special or exclusive, thus justifying a higher price.

What role does communication play in marketing, according to the video?

Communication is essential in marketing because it ensures that the value of a product or service is understood by the customer. If the value isn’t communicated effectively, the product may not sell, even if it has significant benefits.

What can businesses learn from the example of Starbucks in terms of value creation?

Businesses can learn from Starbucks that creating a premium customer experience, not just a product, is key to success. Starbucks blends both functional and emotional value by offering quality beverages along with an inviting atmosphere that makes customers feel special, thus allowing them to charge higher prices.