Review of The Next Huge Factor by William Higham 1771

I was delighted that an individual decided to write a book about trends, how to spot them and how to exploit them. There are numerous internet sites and books about trend spotting and trend hunting, but I have never been able to wrap my head around how to exactly use the information, and a lot of times I felt fairly helpless. In an age where things are changing so rapidly, the ability to spot trends and exploit them is a skill that would make any professional a lot more marketable, mainly because they are equipped to accurately predict client attitudes and behaviours, and assist firms with product development strategies.

And, William Higham, the author of The Next Large Factor is qualified to write a book on trends simply because he has consulted in the region for 10 years, but a lot more importantly, the region of trends has usually been his passion, so he has studied it for quite a few years. I discovered The Next Huge Factor on Netgalley.com, and was able to download a copy for review making use of Adobe Digital Editions. The book is very well researched, and although reading it you get a sense that the author knows what he is talking about.

The Next Huge Factor is 272 pages in length (over 40 of which are employed for the Appendix and Index) and divided into two Sections: Trends and Trend Marketing and six Parts: The Value of Trends, Beginning with Trends, Understanding Trends, Identification, Interpretation and Implementation. Higham uses his experience and knowledge of trends to educate folks on Trend marketing in a uncomplicated and straightforward manner.

So what is a trend? William Higham defines a trend as, "A long-term change in consumer attitudes and behaviours that provide advertising opportunities. Trends are the manifestation of change." He adds, "To identify a new trend, marketers need to look for any signs of change among consumers. These can be change in behaviour or attitude."

The author spends a lot of time going into the nitty-gritty of trend marketing providing a multitude of examples to develop a case. This is excellent for most folks, but for me it was too a lot details. I wanted him to get on with it, and that's my bias due to the fact I have over 17 years of study and analysis experience, I know a lot of internet websites that spot trends, so all I want to discover now is what do I do with them. How do I move forward with trends to offer far better services to my clients? For me, the meat of the book began at page 115. Your response to the detailed details will depend on what your requirements are.

In The Next Massive Factor, the author provides many examples of consumer changing tastes and how organizations are responding to these changing tastes, or even predicting where their consumers would be, comparable to the way Wayne Gretzky would skate to where he anticipated the puck would be, which made him a quite profitable hockey player. I liked the thought of heritage marketing where brands would use their rich heritage, their founders and history to marketplace to customers. And even those brands that haven't been in existence for a long time would create a heritage for their clients. How can you use heritage advertising, even if your company and brand haven't been around for a long time?

Savvy corporations that know how to use trends can capitalize on trends such as Trading Up, Come Together and Gender Blending.

Trading Up Trend: Consumer across socioeconomic categories purchase far more premium products, and you exploit this trend by having products at various price points to produce ranges. Feel how you could expand into other complementary or even non-complementary product categories.

Come Together Trend: The growth of building community and social networking is staggering, how can you exploit that trend?

Gender Blending Trend: There is a growing trend for gender neutral products. Recently far more women have been purchasing technology products and far more men are buying and using skin care products. If your products are not gender neutral, how can you make them so? And could you produce a line that's targeted for the "other" gender?

For The Next Big Thing to be truly useful to me, it had to teach me how to do 3 things, and I suspect it would be the exact same for most individuals who are interested in trend marketing.

  1. How to research trend activities
  2. How to interpret and analyze trends
  3. How to implement trends



The book delves into how to produce a Trend Marketing Department including the skills required for every stage of the trend marketing procedure, as well as how to hire a consultant who specializes in the area. Higham also talks about how trends come into being, "Trends do not just appear spontaneously. They are driven by specific environmental or individual changes. What is happening around customers affect their thoughts and actions. Trends begin when an environment shift disrupts consumers' normative attitudes and behaviours. And they generally happen as a reaction to some thing a consumer experiences." The book also goes into fad versus trends, micro vs. macro trends, national vs. international trends. Numerous chapters are devoted to identifying, interpreting and implementing trends.

Identifying Trends

Who to Study

Customers

  • Innovators

  • Influentials

  • Early adopters



Observers

  • Journalists

  • Academics

  • Researchers

  • Entrepreneurs



How to Study

  • Practical identification

  • Theoretical identification

  • Behavioural identification

  • Attitudinal identification



Finding Data

Statistical: study reports, government reports, press releases

Observational: focus groups, clubs

Media: news media (mainstream consumer, alternative consumer), non-new media (books, films)

Interpreting Trends

  • How do trends spread?

  • What are active trend drivers?

  • How will the trends develop tomorrow?

  • How to map trends against the key drivers



Implementing

  • Possible impact of trend

  • How to benefit from trend

  • Feasibility

  • Consumer demand, relevance, interest



There is a lot of content in the book, and this review need to not be employed as a substitute for reading The Next Massive Factor. Though the info is overwhelming, if you are severe about the entire trend marketing process you have to read the whole book once and then use it as a reference guide. William Higham could have effortlessly upped the perceived value of The Next Big Factor by simply such as a five page summary of the trend advertising method. He already knows that there are lots of resources out there that spot trends, but men and women, myself included, do not know what to do with them.

I recommend The Next Massive Thing. Prior to you read The Next Massive Factor, ask your self the following 3 questions, and maintain a notebook and pen handy to take notes and capture info that's relevant to your scenario.

Questions to Ask & Answer

  1. How are my buyers changing?
  2. Which trends will my consumers respond to?
  3. How can I exploit the opportunity to identify new markets as well as better service my present clients?



For those who haven't read How to Read a Book by Mortimer Adler, it's the ideal time to do so. The book offers methods on how to get the most out of what you are reading. And if you haven't completed so already, produce Google Alerts for the trends or other critical information that you are interested in to flag articles, studies, blog posts and so on.More info of William Hill Promotional Code

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Comments: 4
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