A Quote by Michael J. Silverstein
I like to take CEOs into consumers' homes to see the "real world." CEOs have privileged lives with big incomes, lots of help, access to just about anything they wish. The average consumer lives on $53,000 a year and has daily tradeoffs and compromises that must be made. I took a CEO into a trailer park so he could observe first-hand - and understand - how consumers use his product.
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I think of a traditional CEO as being divorced from customers. A lot of consumer company CEOs - they're not really interacting with consumers.
As a CEO, you get sucked into dealing with all the tasks of being a CEO. There's a big meeting, a big discussion, and you get into all the big issues, which is your job. But what CEOs often lose sight of is that it's all about the people who work for you. For every 1,000 decisions, 999 were being made when I was not in the room.
Consumers will purchase high quality products even if they are expensive, or in other words, even if there are slightly reasonable discount offers, consumers will not purchase products unless they truly understand and are satisfied with the quality. Also, product appeal must be properly communicated to consumers, but advertisements that are pushed on consumers are gradually losing their effect, and we have to take the approach that encourages consumers to retrieve information at their own will.
The thing that's confusing for investors is that founders don't know how to be CEO. I didn't know how to do the job when I was a CEO. Founder CEOs don't know how to be CEOs, but it doesn't mean they can't learn. The question is... can the founder learn that job and can they tolerate all mistakes they will make doing it?
The broken consumer credit market had to be repaired by making sure that consumers had the right information and could use it effectively. That meant consolidating the bloated patchwork of ineffective agencies and regulations so that a single agency could act as a voice for consumers.
I think there needs to be a general consciousness raising among consumers. So many consumers aren't aware of the backstory. They see the end product in the supermarket but don't know all the steps that it took to get it there, who helped to get the food there.
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If CEOs insist that middle class Americans compete with cheap foreign labor, why not outsource the jobs of CEOs? If business is all about cost, they should be the first to volunteer.
Critics of consumer capitalism like to think that consumers are manipulated and controlled by those who seek to sell them things, but for the most part it's the other way around: companies must make what consumers want and deliver it at the lowest possible price.
Most CEOs are patriotic and most CEOs can see the problems in front of them, and they want to do something about it. We don't always agree about the ways and means, but the objective? We're totally together.
CEOs of top companies could probably use a dose of not-asking-for-raise behavior and less self-entitlement, rather than us trying to change girls in order to fit into the common mold of what we think a CEO looks like.
You have to have honesty to the product. You have to meet consumer expectations. You give them value for their money and give them a product that they need. I don't see anything wrong with all these things. And I don't think it's a bad thing to meet consumers' expectations.
We're going to be selling our product to the American consumer. We want to have Americans who understand American consumers.
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Women need to be empowered to shape their own livelihoods and become CEOs of their own lives. They must be allowed to take control of important life decisions that are so often decided by others.
If old consumers were assumed to be passive, then new consumers are active. If old consumers were predictable and stayed where you told them, then new consumers are migratory, showing a declining loyalty to networks or media. If old consumers were isolated individuals, then new consumers are more socially connected. If the work of media consumers was once silent and invisible, then new consumers are now noisy and public.
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