About Michael J. Silverstein

Michael J. Silverstein Michael J. Silverstein is a senior partner and managing director at The Boston Consulting Group (BCG). Over the past 25 years at the firm, he has worked with consumer goods, retail, and services companies, helping them create more than $10 billion in new consumer products and services. He is an authority on consumer behavior, spending, and innovation.

Michael's book Trading Up: Why Consumers Want New Luxury Goods—and How Companies Create Them, a BusinessWeek bestseller coauthored with Neil Fiske, has been widely praised by critics, authors, and industry leaders. It won the American Marketing Association Foundation's 2004 Berry-AMA Book Prize for best book in marketing. Michael has been featured in such major media as CBS and CNN, as well as The New York Times, The Wall Street Journal, and The Economist.

Michael began his career as a reporter for United Press International (UPI). He joined BCG in 1980 after graduating from Harvard Business School. Michael continues to consult with major consumer goods and retail companies. About his work, he says, "We focus on empathy, understanding, and a directed, targeted response. We help our clients invent new products that deliver technical, functional, and emotional brand advantages."

Michael is an avid runner, golfer, cook, and photographer. He is married and has two children.

Books by Michael

Breaking Compromises: Opportunities for Action in Consumer Markets from The Boston Consulting Group. Silverstein, Michael J. and Stalk, George (editors). New York: John Wiley & Sons, Inc., 2000.

Trading Up: Why Consumers Want Luxury Goods... And How Companies Create Them. Silverstein, Michael J. and Fiske, Neil. New York: Portfolio Penguin Group (USA), 2003.

Treasure Hunt: Inside the Mind of the New Consumer. Silverstein, Michael J. with Butman, John. New York: Portfolio Penguin Group (USA), 2006.

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In 2002, while doing our research for Trading Up, we began analyzing the total shareholder return (TSR) performance of 15 companies that follow a trading-up strategy—offering premium but affordable products and services that deliver technical, functional, and emotional benefits. We've now compiled data on these companies for the period 2001-2005, and our analysis shows that the trading-up group significantly outpaced the market, achieving 22 points average TSR, compared with 7 points average for the market as a whole and 16 points for the top quartile.

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