The Dollarization Discipline

About the Authors

Jeffrey J. Fox is an esteemed author and the founder of Fox & Co. Inc., a management consulting firm known for its expertise in marketing strategy development and sales effectiveness. He has written several bestselling books, including "How to Become a Rainmaker," which provides insights into effective sales and marketing strategies. Fox's work emphasizes practical, results-oriented approaches to business challenges.

Richard C. Gregory is a senior consultant at Fox & Co. and leads the company's Dollarization Consulting and Training practice. With a strong background in management consulting, Gregory specializes in helping companies understand and maximize the financial impact of their offerings. Together, Fox and Gregory bring a wealth of experience and knowledge to the concept of dollarization, offering practical guidance to businesses aiming to enhance customer value and profitability.

Main Idea

At the core of The Dollarization Discipline is the concept of "dollarization," a method that involves quantifying the financial impact of a product or service on its buyers. Unlike the traditional notion of "total cost of ownership," which focuses primarily on cost reduction and avoidance, dollarization emphasizes understanding and communicating the full economic value created by a company's offerings. This includes not only cost savings but also non-cost benefits such as increased market share, sales volume, and pricing power. The book argues that dollarization should be a disciplined approach applied across various business activities, from pricing to sales and marketing, ensuring that companies remain customer-focused and value-driven.

Table of Contents

1. Getting Started with Dollarization
2. Why Dollarize?
3. Dollarization and Selling
4. Dollarization and Marketing
5. Dollarization Techniques
6. The Dollarization Doctrine

Getting Started with Dollarization

The first chapter introduces the concept of dollarization by illustrating how businesses can better understand the true cost of their offerings compared to alternatives. This involves not just a simple comparison of price tags but a deeper analysis of the long-term financial impacts. The authors present a scenario with two types of paint to highlight how the more expensive option may actually provide better value due to factors like durability and reduced application costs.