[{"data":1,"prerenderedAt":2203},["ShallowReactive",2],{"layout-dao":3,"dao-wenda-business-06":816,"qanda-chapter-navigation":1786,"dao-related-topics":1834},[4,11,17,22,27,32,37,42,47,52,57,63,69,73,78,82,87,91,96,100,105,109,114,119,124,129,134,140,145,150,155,160,165,170,175,180,185,190,196,201,206,211,216,221,226,231,237,243,248,253,258,263,268,273,278,283,288,293,298,303,308,313,318,323,328,333,338,343,348,353,358,363,368,373,378,383,388,393,398,403,408,413,418,423,430,437,442,447,452,457,462,468,473,478,483,488,492,498,503,508,513,518,523,528,534,539,544,549,554,559,565,570,575,580,585,590,595,600,605,610,616,621,626,631,636,641,647,652,657,662,667,672,678,683,689,695,700,705,710,715,720,725,730,735,740,745,750,755,760,765,770,775,780,785,790,795,800,806,811],{"title":5,"slug":6,"description":7,"category":8,"order":9,"type":10,"volume":9,"volumeOrder":9,"chapterOrder":9},"关于本站、来源与更正","about-source-policy","段永平投资问答录是由寻长坡以滚雪球独立整理的中文阅读站。本文说明原文、编者概述、来源核验、日期与更正的处理方式。","关于本站",null,"site-policy",{"title":12,"slug":13,"description":14,"category":15,"order":16,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"本分","benfen","本分是要求自己做该做的事、坚持原则并求责于己。本文从步步高讲话与公开问答梳理五心、诚信和做对事情的关系，解释本分为什么不能用来评判别人。","核心哲学",1,{"title":18,"slug":19,"description":20,"category":15,"order":21,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"平常心","pingchangxin","平常心是回到事物本源、理性思考并把眼光放长远。本文从步步高讲话、投资访谈与王石对谈整理这一理念，解释平常心与进取、稳健经营和长期主义的关系。",2,{"title":23,"slug":24,"description":25,"category":15,"order":26,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"做对的事情","zuoduideshiqing","做对的事情先看方向和原则，发现不对的事情就及时停止。本文整理段永平对本分、不为清单与把事情做对的讨论，说明原则判断和执行能力怎样配合。",3,{"title":28,"slug":29,"description":30,"category":15,"order":31,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"把事情做对","bashiqingzuodui","做对的事情强调原则，把事情做对强调能力、学习与执行。本文整理段永平如何区分两者，为什么发现错误要及时回头，以及两者在经营和投资中的应用。",4,{"title":33,"slug":34,"description":35,"category":15,"order":36,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"能力圈","nengliquan","能力圈重在诚实知道自己懂什么、不懂什么，能判断生意与未来现金流的范围。本文整理段永平对看懂公司、学习扩展与不懂不碰的讨论，而非按行业机械画圈。",5,{"title":38,"slug":39,"description":40,"category":15,"order":41,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"不做什么","buzuoshenme","不做什么是先排除原则性错误，再讨论能力与机会。本文整理段永平的 Stop Doing List、投资三不和企业聚焦案例，说明知道边界如何帮助企业更健康、更长久。",6,{"title":43,"slug":44,"description":45,"category":15,"order":46,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"不做清单与警惕清单","buzuo-yu-jingti","本文分开整理明确不做的事情与需要继续核查的危险信号：不懂不碰、不借钱、不做空，以及现金流、负债和价值陷阱。清单中的概括由编者整理，具体表述见所附问答。",6.5,{"title":48,"slug":49,"description":50,"category":15,"order":51,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"敢为天下后","ganweitianxiahou","敢为天下后、后中争先强调看清用户需求与自身优势，再把产品做好。本文整理段永平对后来者、创新、品质和进入时机的讨论，解释它与盲目模仿的区别。",7,{"title":53,"slug":54,"description":55,"category":15,"order":56,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"消费者导向","xiaofeizhedaoxiang","消费者导向以最终使用者的体验和真实需求为出发点。本文整理段永平对用户导向、市场导向和利润导向的区分，讨论产品创新及长期经营中的取舍。",8,{"title":58,"slug":59,"description":60,"category":61,"order":62,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"价值投资","jiazhitouzi","价值投资从理解企业和未来现金流出发。本文整理段永平对买股票就是买公司、能力圈、价格与长期持有的讨论，说明投资与投机在判断依据上的差别。","投资理念",9,{"title":64,"slug":65,"description":66,"category":67,"order":68,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"负债","fuzhai","看负债需要区分有息负债、无息负债及其经营用途。本文整理段永平对低负债、企业价值和房地产财报的讨论，说明不能只用总负债率判断一门生意。","财务指标",10,{"title":70,"slug":71,"description":72,"category":61,"order":68,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"商业模式","shangyemoshi","生意模式就是公司赚钱的模式，判断时要看护城河、长期现金流和企业文化。本文整理段永平为何先用生意模式筛选公司，并对照苹果、网易、GE与Zoom案例。",{"title":74,"slug":75,"description":76,"category":61,"order":77,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"护城河","huchenghe","护城河是保护长期盈利与未来现金流的竞争优势，也属于生意模式的一部分。本文整理段永平对差异化、企业文化和可持续性的判断，以及苹果、茅台等案例。",11,{"title":79,"slug":80,"description":81,"category":67,"order":77,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"净现金","jingxianjin","净现金需要结合现金、负债及实际经营需要来理解。本文整理段永平对网易、苹果与企业价值的讨论，说明现金安全垫并不等于公司一定值得买。",{"title":83,"slug":84,"description":85,"category":67,"order":86,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"开销合理性","kaixiaohelixing","经营开销要看是否真正改善产品、效率与长期价值。本文整理段永平对广告、管理费用和扩张投入的讨论，区分必要支出与为了增长而盲目花钱。",12,{"title":88,"slug":89,"description":90,"category":67,"order":86,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"现金流","xianjinliu","现金流帮助判断利润质量和公司长期价值。本文整理段永平关于未来现金流、真实利润、护城河与资本支出的讨论，说明看现金流需要联系生意而非只看一个数字。",{"title":92,"slug":93,"description":94,"category":67,"order":95,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"真实利润","zhenshilirun","真实利润需要结合现金流、资产质量与经营持续性来理解。本文整理段永平对财报、折旧、资本支出和纸上盈利的讨论，帮助区分报表数字与实际生意。",13,{"title":97,"slug":98,"description":99,"category":61,"order":95,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"折现","zhexian","未来现金流折现是理解公司价值的一种思维方式。本文整理段永平对折现率、机会成本和毛估估的讨论，说明估值为何先依赖看懂生意，而非精确计算。",{"title":101,"slug":102,"description":103,"category":61,"order":104,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"安全边际","anquanbianji","在段永平的表述中，安全边际与对生意的理解、能力圈和未来现金流有关，不能只看股价便宜。本文整理相关问答、网易与苹果案例及常见误解。",14,{"title":106,"slug":107,"description":108,"category":67,"order":104,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"扣除商誉的净资产","jingzichan","净资产的数字需要联系资产能否产生现金流来判断。本文整理段永平对商誉、有效资产与企业价值的讨论，说明账面净资产为什么不能独立决定投资价值。",{"title":110,"slug":111,"description":112,"category":61,"order":113,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"基本面","jibenmian","基本面包括生意模式、企业文化、产品竞争力和长期盈利能力。本文整理段永平如何研究公司，为什么股价走势不能替代对生意本身的理解。",15,{"title":115,"slug":116,"description":117,"category":61,"order":118,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"机会成本","jihuichengben","机会成本是选择一项投资时放弃的其他机会，也影响估值的比较标准。本文整理段永平关于持有、换股与折现率的问答，解释不同投资者为何会作出不同判断。",16,{"title":120,"slug":121,"description":122,"category":61,"order":123,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"长期持有","zhangqichiyou","长期持有应以持续理解公司价值为前提。本文整理段永平对投资长期、持有就是买入、机会成本和卖出条件的讨论，说明持有时间本身不能替代投资判断。",17,{"title":125,"slug":126,"description":127,"category":61,"order":128,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"投机","touji","在段永平的投资框架中，关键是看判断来自生意价值还是价格变化。本文整理相关访谈和问答，讨论市场预测、短期交易与价值投资的区别。",18,{"title":130,"slug":131,"description":132,"category":61,"order":133,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"止损","zhisun","股价下跌本身与发现投资判断错误需要区分。本文整理段永平对止损、成本价和卖出条件的问答，说明价值投资中怎样从生意变化与机会成本重新审视持有。",19,{"title":135,"slug":136,"description":137,"category":138,"order":139,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"企业文化","qiyewenhua","企业文化体现为团队认同并坚持的价值观与行为。本文整理段永平对本分、诚信、用户导向和利润之上追求的讨论，以及文化如何保护或毁掉好生意。","企业经营",20,{"title":141,"slug":142,"description":143,"category":138,"order":144,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"品牌","pinpai","品牌是消费者对产品与服务的长期认知。本文整理段永平对广告、品质、信任和价格的讨论，以及小霸王、步步高与苹果案例，说明品牌如何建立和被破坏。",21,{"title":146,"slug":147,"description":148,"category":138,"order":149,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"差异化","chayihua","差异化来自满足用户真实需求，不能只追求与别人不同。本文整理段永平对产品、价格竞争和护城河的解释，以及苹果和消费电子的相关案例。",22,{"title":151,"slug":152,"description":153,"category":138,"order":154,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"定价权","dingjiaquan","定价权来自用户认可的差异化和长期价值。本文整理段永平有关提价、合理定价、价格战与护城河的问答，并对照苹果、喜诗糖果和可口可乐案例。",22.5,{"title":156,"slug":157,"description":158,"category":138,"order":159,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"用户体验","yonghutiyan","用户体验要从消费者真实使用产品的感受出发。本文整理段永平对功能、品质、产品成本与苹果生态的讨论，说明满足需求比追逐概念更值得关注。",23,{"title":161,"slug":162,"description":163,"category":138,"order":164,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"渠道","qudao","渠道要看产品如何到达用户、各方如何合作及总成本是否合理。本文整理段永平对步步高代理制、价格体系和苹果渠道的讨论，说明渠道与产品、品牌的关系。",24,{"title":166,"slug":167,"description":168,"category":138,"order":169,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"平台","pingtai","平台的价值需要联系用户体验、网络协作和持续盈利来判断。本文整理段永平分析苹果平台与生态的相关表述，讨论平台优势如何进入生意模式和护城河。",25,{"title":171,"slug":172,"description":173,"category":138,"order":174,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"生态系统","shengtaixitong","生态系统的价值来自产品、软件与服务相互协作形成的用户体验。本文整理段永平关于苹果生态、用户黏度和竞争优势的表述，讨论它与平台、护城河的关系。",26,{"title":176,"slug":177,"description":178,"category":138,"order":179,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"单一产品","danyichanpin","单一产品模式重在集中资源把产品做好，降低渠道和管理复杂度。本文整理段永平的消费电子经验与苹果案例，讨论聚焦的价值、适用范围和常见误解。",27,{"title":181,"slug":182,"description":183,"category":138,"order":184,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"造钟人","zaozhongren","造钟人建立能持续运转的组织、制度与文化，报时人更多依靠个人判断。本文整理段永平引用《基业长青》的框架及对乔布斯、苹果与企业传承的讨论。",28,{"title":186,"slug":187,"description":188,"category":138,"order":189,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"利润之上的追求","lirunzhishangdezhuiqiu","利润之上的追求关注企业为何存在、为用户创造什么价值。本文整理段永平对使命、产品和长期盈利的讨论，说明这一理念与赚钱的关系及苹果等案例。",29,{"title":191,"slug":192,"description":193,"category":194,"order":195,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"进取心","jinquxin","进取心与平常心共同构成本分文化：认真投入、提升能力，同时追求健康长久。本文整理步步高讲话与相关问答，讨论发展目标、拼搏精神和急功近利的边界。","品格与心性",30,{"title":197,"slug":198,"description":199,"category":194,"order":200,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"耐心","naixin","耐心既是企业长期积累的基础，也是投资中等待理解与机会的能力。本文整理步步高讲话、巴菲特午餐访谈和公开问答，讨论慢慢变富与盲目坚持的区别。",31,{"title":202,"slug":203,"description":204,"category":194,"order":205,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"责任心","zerenxin","责任心是对团队和家庭承担责任，也是本分五心的一部分。本文整理步步高讲话与相关问答，讨论合作、员工关怀及把责任落到日常行为中的含义。",32,{"title":207,"slug":208,"description":209,"category":194,"order":210,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"爱心","aixin","爱心在本分文化中连接团队、家庭与公益。本文整理段永平对关心员工、陪伴孩子和以身作则的讨论，并区分他的原话与编者解释。",33,{"title":212,"slug":213,"description":214,"category":194,"order":215,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"信誉","xinyu","信誉体现在履行承诺和为原则付出代价时。本文整理段永平的经营访谈、合同案例与相关问答，解释诚信为何应成为本分，而不是换取利益的手段。",34,{"title":217,"slug":218,"description":219,"category":194,"order":220,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"正直","zhengzhi","正直与诚信要求在利益冲突中坚持原则，并兑现承诺。本文整理段永平对 integrity、做人和企业文化的讨论，说明它与本分、理性及长期经营的关系。",35,{"title":222,"slug":223,"description":224,"category":194,"order":225,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"理性","lixing","理性意味着回到事实与本质，减少情绪、短期得失和外界干扰。本文整理段永平对平常心、长期主义和投资决策的讨论，并保留各段引文的具体语境。",36,{"title":227,"slug":228,"description":229,"category":194,"order":230,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"长期主义","zhangqizhuyi","长期主义强调关注行动的长远后果，追求更健康、更长久。本文整理段永平关于平常心、经营积累与王石对谈的表述，讨论长期视角与短期取舍的关系。",37,{"title":232,"slug":233,"description":234,"category":235,"order":236,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"段永平推荐书单","tuijianshudan","本文区分段永平明确推荐、读过称赞及并不推荐的书，整理《巴菲特致股东的信》等阅读线索。推荐强度以正文原话为准，避免把所有提及过的书都列为推荐。","推荐书单",50,{"title":238,"slug":239,"description":240,"category":241,"order":242,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"1998年段永平对步步高所有营销人员的讲话","duanyongping-1998nian-bubugao-yingxiaorenyuan-jianghua","段永平面向步步高营销人员阐述本分、信誉、聚焦、敢为天下后与不攻击对手等经营原则。","访谈实录",98,{"title":244,"slug":245,"description":246,"category":241,"order":247,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"1998年巴菲特佛罗里达大学演讲","buffett-1998nian-foluolida-daxue-yanjiang","巴菲特1998年佛罗里达大学演讲及问答，讨论能力圈、企业价值、投资错误、集中投资与人生选择。",99,{"title":249,"slug":250,"description":251,"category":241,"order":252,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"1999年 《都市快报》采访手记","duanyongping-1999nian-doushikuaibao-caifangshouji","段永平畅谈本分做人做企业的理念，回顾从小霸王到步步高的创业历程，强调信誉、股份制与平常心的重要性。",100,{"title":254,"slug":255,"description":256,"category":241,"order":257,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"1999年 步步高讲话","duanyongping-1999nian-bubugaojianghua","段永平阐述步步高企业的本分精神，强调平常心、进取心、耐心、责任心和爱心是企业生存发展的基本原则。",101,{"title":259,"slug":260,"description":261,"category":241,"order":262,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"1999年做客人民大学精彩问答实录","duanyongping-1999nianzuokerenmindaxuejingcaiwendashilu","段永平在人民大学分享本分经营、敢为天下后、焦点法则等企业理念，并与学生互动探讨创业、品牌与人生。",102,{"title":264,"slug":265,"description":266,"category":241,"order":267,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2000年 《销售与市场》杂志专访","duanyongping-2000nian-xiaoshouyushichang-zazhizhuanfang","段永平谈步步高的品牌定位、本分竞争哲学、广告策略，强调不创造利润的企业是罪恶的，反对盲目多元化。",103,{"title":269,"slug":270,"description":271,"category":241,"order":272,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2000年在央视“品牌与传播国际论坛”上的演讲","duanyongping-2000nianzaiyangshi-pinpaiyuchuanboguojiluntan-shangdeyanjiang","段永平分享在央视投放广告的实战经验，强调广告只是经营环节之一，产品品质才是品牌根基。",104,{"title":274,"slug":275,"description":276,"category":241,"order":277,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2000追逐世界的节奏 —— 《经营者》杂志2000年，步步高总经理访谈记录","duanyongping-2000zhuizhushijiedejiezou-jingyingzhe-zazhi2000nian-bubugaozongjing","全面回顾段永平从小霸王到步步高的创业历程，详述品牌运作、本分信誉、高速公路经营哲学与平常心理念。",105,{"title":279,"slug":280,"description":281,"category":241,"order":282,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2001《经营天下：高峰论坛 之 段永平》—— 2001年末中国20位行业巨头面对面访谈录","duanyongping-2001-jingyingtianxia-gaofengluntan-zhi-duanyongping-2001nianmozhong","段永平深度阐述诚信为本、安全发展、敢为天下后、反对盲目创新与多元化等企业经营核心理念。",106,{"title":284,"slug":285,"description":286,"category":241,"order":287,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2001年 我为什么要去读书？ —— 《读者》2001年11月刊","duanyongping-2001nian-woweishenmeyaoqudushu-duzhe-2001nian11yuekan","段永平讲述在中欧商学院读MBA的原因：系统学习管理知识以应对WTO竞争，并推动全员学习降低沟通成本。",107,{"title":289,"slug":290,"description":291,"category":241,"order":292,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2001年《世界经理人文摘》专访","duanyongping-2001nian-shijiejinglirenwenzhai-zhuanfang","段永平详解敢为天下后战略：后来者如何通过综合素质、品质管理和平常心实现后来居上。",108,{"title":294,"slug":295,"description":296,"category":241,"order":297,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2002年 CCTV2经济频道《卖点》栏目采访：投影机能否走进家庭？","duanyongping-2002nian-cctv2jingjipindao-maidian-lanmucaifang-touyingjinengfouzou","段永平作为嘉宾为创业公司把脉，建议先在专业市场站稳脚跟，通过差异化竞争和定向宣传求生存发展。",109,{"title":299,"slug":300,"description":301,"category":241,"order":302,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2003年北京大学总裁班演讲座谈会全程实录","duanyongping-2003nianbeijingdaxuezongcaibanyanjiangzuotanhuiquanchengshilu","段永平在北大系统阐述诚信为本、平常心经营、消费者导向等理念，并就选人用人、企业管理等问题答疑。",110,{"title":304,"slug":305,"description":306,"category":241,"order":307,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2004财富人生—段永平 2004 采访","duanyongping-2004caifurensheng-duanyongping-2004-caifang","段永平回顾明星广告策略的商业逻辑，讲述施瓦辛格广告风波中坚守本分、信守合同承诺的故事。",111,{"title":309,"slug":310,"description":311,"category":241,"order":312,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2005年步步高十周年“记”念晚会：段永平发言","duanyongping-2005nianbubugaoshizhounian-ji-nianwanhui-duanyongpingfayan","段永平在步步高十周年回顾企业理念，确立本分、诚信等核心价值观，提出“更健康更长久”的企业愿景。",112,{"title":314,"slug":315,"description":316,"category":241,"order":317,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2006年 深度对话网易证券全程实录","duanyongping-2006nian-shenduduihuawangyizhengquanquanchengshilu","段永平分享巴菲特午餐竞拍背后的故事，详述价值投资理念、网易投资经历及从做企业到做投资的转型心得。",113,{"title":319,"slug":320,"description":321,"category":241,"order":322,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2006年做客新浪财经频道聊天全实录","duanyongping-2006nianzuokexinlangcaijingpindaoliaotianquanshilu","段永平首次做客新浪聊天，谈与巴菲特午餐缘起、价值投资理念、投资网易始末及慈善观。",114,{"title":324,"slug":325,"description":326,"category":241,"order":327,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2006年浙大“实话实说”","duanyongping-2006nianzheda-shihuashishuo","段永平捐赠浙大后座谈，谈教育捐赠初衷、求是精神、学生应脚踏实地而非空立大志，享受过程最重要。",115,{"title":329,"slug":330,"description":331,"category":241,"order":332,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2007年与巴菲特共进午餐后网易专访","duanyongping-2007nianyubafeitegongjinwucanhouwangyizhuanfang","段永平分享巴菲特午餐感悟，强调买股票就是买公司、耐心等待好价格、长期持有的价值投资原则。",116,{"title":334,"slug":335,"description":336,"category":241,"order":337,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2007年波士堂访谈","duanyongping-2007nianboshitangfangtan","段永平做客波士堂，谈步步高敢为天下后策略、消费者导向、追求健康长寿而非企业规模。",117,{"title":339,"slug":340,"description":341,"category":241,"order":342,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2009年 深度专访： 探讨公益人生，分享成功体会","duanyongping-2009nian-shenduzhuanfang-tantaogongyirensheng-fenxiangchenggongtihu","段永平深度访谈，谈成功定义、慈善理念、本分诚信的企业文化、家庭与事业的平衡。",118,{"title":344,"slug":345,"description":346,"category":241,"order":347,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2009年《21世纪经济报道》独家专访：我不认为巴菲特是股神（2009年）","duanyongping-2009nian-21shijijingjibaodao-dujiazhuanfang-woburenweibafeiteshigus","段永平第二次与巴菲特午餐后受访，强调不要神化巴菲特、以平常心学习其投资智慧。",119,{"title":349,"slug":350,"description":351,"category":241,"order":352,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2009浙大MBA分享：企业追求的是稳健的发展，基本功最重要","duanyongping-2009zhedambafenxiang-qiyezhuiqiudeshiwenjiandefazhan-jibengongzuizh","段永平浙大MBA分享，谈企业基本功、本分文化的核心价值、稳健发展胜过盲目扩张。",120,{"title":354,"slug":355,"description":356,"category":241,"order":357,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2010年 步步高董事长段永平和人大校长纪宝成记者会实录","duanyongping-2010nian-bubugaodongshizhangduanyongpingherendaxiaozhangjibaochengj","段永平向人大捐赠3000万美元，谈配比基金模式、教育慈善理念及校友回馈责任。",121,{"title":359,"slug":360,"description":361,"category":241,"order":362,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2011年买入苹果思考","duanyongping-2011nianmairupingguosikao","段永平分析苹果商业模式，论其单品策略、生态系统护城河、消费者导向及长期投资价值。",122,{"title":364,"slug":365,"description":366,"category":241,"order":367,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2011年浙大演讲","duanyongping-2013nianzhedayanjiang","段永平浙大演讲三要点：脚踏实地做事、知道什么不该做、做正直的人。",123,{"title":369,"slug":370,"description":371,"category":241,"order":372,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2015年库克乔治·华盛顿大学毕业典礼演讲：找到你的北斗星","tim-cook-2015nian-huashengdundaxue-biyeyanjiang","蒂姆·库克在2015年乔治·华盛顿大学毕业典礼上谈价值观、平等、乔布斯的影响与人生方向。本页为中文整理译文，原始报道和视频见来源链接。",124,{"title":374,"slug":375,"description":376,"category":241,"order":377,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2015年vivo 20周年晚宴沈炜讲话","shenwei-2015nian-vivo-20zhounian-wanyan-jianghua","沈炜在vivo二十周年晚宴回顾创业历程，讨论本分文化、用户导向、产品转型与企业愿景。",125,{"title":379,"slug":380,"description":381,"category":241,"order":382,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2016年浙大60周年专访","duanyongping-2016nianzheda60zhounianzhuanfang","段永平回忆浙大岁月，阐述做对的事情哲学、北极星概念及人生选择建议。",126,{"title":384,"slug":385,"description":386,"category":241,"order":387,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2018年段永平斯坦福大学53问","duanyongping-2018nian-sitanfu-daxue-53wen","段永平在斯坦福大学回答53个问题，涉及人生、企业经营、产品、投资、家庭与黄峥等话题。",127,{"title":389,"slug":390,"description":391,"category":241,"order":392,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2024年费德勒达特茅斯毕业演讲（节译）：努力与失败","feidele-2024nian-biyeyanjiang","费德勒2024年达特茅斯学院毕业演讲的中文节译，选取“毫不费力是个神话”与“这只是一分”两课，谈训练、纪律和面对失败。完整演讲见校方原文。",128,{"title":394,"slug":395,"description":396,"category":241,"order":397,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2025年浙江大学演讲及问答完整版","duanyongping-2025nianzhejiangdaxueyanjiangjiwendawanzhengban","段永平浙大2025年演讲，谈做对的事情、AI时代机遇、创业投资心得及本分文化实践。",129,{"title":399,"slug":400,"description":401,"category":241,"order":402,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2025年谈躺平与内卷、与王石交流子女教育","duanyongping-2025niantantangpingyuneijuan-yuwangshijiaoliuzinvjiaoyu","段永平与王石对谈，论投资哲学、文化传承、营销本质、子女教育及平常心即长期主义。",130,{"title":404,"slug":405,"description":406,"category":241,"order":407,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2025年：方三文对话段永平：做自己能够喜欢的事情很重要","duanyongping-2025nian-fangsanwenduihuaduanyongping-zuozijinenggouxihuandeshiqing","段永平与方三文深度对话，谈个人经历、企业文化传承、苹果茅台投资逻辑及AI与教育。",131,{"title":409,"slug":410,"description":411,"category":241,"order":412,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"2025年vivo 30周年纪念晚宴沈炜致辞","shenwei-2025nian-vivo-30zhounian-wanyan-zhici","沈炜在vivo三十周年晚宴回顾步步高与vivo发展，阐释本分、用户导向、平常心与企业长期健康。",132,{"title":414,"slug":415,"description":416,"category":241,"order":417,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"段永平步步高内部讲话：道先于术","duanyongping-bubugao-neibujianghua-daoxianyushu","段永平在步步高内部讲话中谈道先于术、沉没成本、是非不给利益让路，以及企业文化是木桶的底板。",133,{"title":419,"slug":420,"description":421,"category":241,"order":422,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"段永平投资问答录｜核心精简版","duanyongping-touzi-wendalu-hexin-jingjianban","编者从本站问答档案中精选214组问答与论述，按投资、经营与人生主题重排。适合先读核心观点，再通过完整章节核对提问语境；本页为编辑选编。",134,{"title":424,"slug":425,"description":426,"category":427,"order":428,"type":429,"volume":9,"volumeOrder":9,"chapterOrder":9},"投资问答录主题目录","wenda-topic-index","七卷主题目录按投资起点、理解企业、财报估值、经营、公司、行业和人生组织47章问答。读者可以沿主线阅读，也可按公司或小节直接查阅。","投资问答录",190,"topic-index",{"title":431,"slug":432,"description":433,"category":427,"order":434,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":16},"买股票就是买公司与价值投资","wenda-invest-01","买股票就是买公司，要先理解生意与长期价值。该章整理价值投资的定义、投资与经营的关系、没有捷径及好公司与好价格的问答。",200,"qanda-chapter","投资的起点与边界",{"title":438,"slug":439,"description":440,"category":427,"order":441,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":21},"投资为什么简单但不容易","wenda-invest-02","投资逻辑可以简单，长期坚持正确过程却不容易。该章整理价值投资的难点、悟性与实践、适合投资的人及小资金问题。",201,{"title":443,"slug":444,"description":445,"category":427,"order":446,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":26},"看懂生意与能力圈","wenda-invest-03","看懂生意需要背景知识和诚实的边界意识。该章整理商业模式、企业文化、研究公司、概率与能力圈的问答，说明不懂时为何可以放弃。",202,{"title":448,"slug":449,"description":450,"category":427,"order":451,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":31},"风险第一：不做空、不借钱、不懂不碰","wenda-invest-04","投资先考虑避免出局，再谈回报。该章整理不做空、不借钱、不用杠杆、不懂不碰和公司负债问题，以及段永平对错误的复盘。",203,{"title":453,"slug":454,"description":455,"category":427,"order":456,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":36},"市场波动、宏观与牛熊","wenda-invest-05","股价波动、宏观变化与公司价值需要分开理解。该章整理投票器与称重机、市场噪声、经济、通胀、汇率、指数及牛熊的问答。",204,{"title":458,"slug":459,"description":460,"category":427,"order":461,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":41},"投资心态、理性与学习方法","wenda-invest-12","理性与学习方法影响投资过程。该章整理平常心、投资经验、高尔夫启发和书籍选择，强调学习思考逻辑而非只复制别人的结论。",205,{"title":463,"slug":464,"description":465,"category":427,"order":466,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":16},"伟大企业与长坡厚雪","wenda-business-01","伟大企业要看长期竞争力、诚信和持续盈利。该章整理段永平对伟大企业标准、长坡厚雪与增长空间的问答，保留提问语境和原文日期。",206,"怎样看懂好企业",{"title":469,"slug":470,"description":471,"category":427,"order":472,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":21},"商业模式与投资确定性","wenda-business-02","生意模式是理解公司赚钱方式与长期确定性的起点。该章整理定义、护城河、未来现金流及苦生意特征的问答，帮助比较不同公司的模式。",207,{"title":474,"slug":475,"description":476,"category":427,"order":477,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":26},"护城河与差异化","wenda-business-03","护城河来自能够持续的竞争优势与差异化。该章整理垄断、定价权、用户需求和难以差异化行业的讨论，说明竞争优势需要继续检验。",208,{"title":479,"slug":480,"description":481,"category":427,"order":482,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":31},"好产品与用户导向","wenda-business-04","产品判断应先看最终消费者的真实体验。该章整理消费者导向与市场、利润导向的区别，以及好产品的标准、观察方法和实际案例。",209,{"title":484,"slug":485,"description":486,"category":427,"order":487,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":36},"品牌的本质","wenda-business-06","品牌是消费者长期认知的积累，需要产品和服务持续兑现。该章整理品牌、价格、名称、品牌建立及不容易形成品牌的生意等讨论。",210,{"title":135,"slug":489,"description":490,"category":427,"order":491,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":41},"wenda-business-08","企业文化要从企业长期的行为与选择中理解。该章整理文化的定义、判断方法、建立和传承，并保留具体公司案例及不同语境。",211,{"title":493,"slug":494,"description":495,"category":427,"order":496,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":16},"财报、现金流、ROE与净资产","wenda-invest-09","财报帮助核对一门生意的表现，不能用单个指标替代理解。该章整理现金流、真实利润、净资产、负债、ROE与指标边界的问答。",212,"财报、估值与投资决策",{"title":499,"slug":500,"description":501,"category":427,"order":502,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":21},"估值的起点：定性判断与现金流折现","wenda-invest-07","估值先依赖定性判断，再用毛估估理解内在价值。该章整理未来现金流折现、价值与价格的问答，说明估值是一种思维方式。",213,{"title":504,"slug":505,"description":506,"category":427,"order":507,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":26},"折现率、PE与估值案例","wenda-invest-07-cases","估值数字要与生意质量、负债和机会成本一起看。该章整理折现率、PE、EV的使用边界，以及万科、GE、茅台和现金流折现的案例。",214,{"title":509,"slug":510,"description":511,"category":427,"order":512,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":31},"分红、回购与资本配置","wenda-invest-10","资本配置要看资金如何为股东创造长期价值。该章整理分红、回购、债务和公司作为买家的讨论，保留价格、财务状况等判断前提。",215,{"title":514,"slug":515,"description":516,"category":427,"order":517,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":36},"长期持有、集中投资与机会成本","wenda-invest-06","长期持有、集中投资和卖出都需要回到公司价值与机会成本。该章整理持有期限、好公司与好价格、仓位和投资取舍的问答。",216,{"title":519,"slug":520,"description":521,"category":427,"order":522,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":41},"买卖时机与“持有就是买入”","wenda-invest-08","持有需要不断重新作出买入判断，卖出也应看价值与机会。该章整理买入与历史价格、卖出与成本价、持有就是买入及该卖的时候。",217,{"title":524,"slug":525,"description":526,"category":427,"order":527,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":51},"投机、套利、量化与衍生品","wenda-invest-11","该章区分投资、投机与套利的判断依据，整理期权、卖put、量化和衍生品的历史问答。操作细节须结合原问题和当时条件理解。",218,{"title":529,"slug":530,"description":531,"category":427,"order":532,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":16},"本分、平常心与利润之上的追求","wenda-business-09","本分要求自己坚持原则，平常心强调理性想长远。该章整理信誉、承诺、利润之上的追求及其长期结果，区分原话与问题中的假设。",219,"怎样经营企业",{"title":535,"slug":536,"description":537,"category":427,"order":538,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":21},"Stop Doing List、聚焦与更健康更长久","wenda-business-11","不为清单先排除不该做的事情，再集中资源把产品做好。该章整理价格战、份额、性价比、聚焦与更健康更长久的经营原则。",220,{"title":540,"slug":541,"description":542,"category":427,"order":543,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":26},"创新与敢为天下后","wenda-business-05","创新需要满足真实用户需求，敢为天下后也需要自己的差异化。该章整理创新边界、专利、环境与后中争先的经营问答。",221,{"title":545,"slug":546,"description":547,"category":427,"order":548,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":31},"营销、广告、渠道与出海","wenda-business-07","营销和广告需要表达产品价值，渠道需要匹配价格与合作关系。该章整理广告投入、代言、价格体系、渠道及国际市场的经营问答。",222,{"title":550,"slug":551,"description":552,"category":427,"order":553,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":36},"创始人、CEO、团队与激励","wenda-business-10","组织长期发展涉及创始人、管理层、授权、团队与公平激励。该章整理造钟人、CEO、董事会、选人育人和规矩的问答。",223,{"title":555,"slug":556,"description":557,"category":427,"order":558,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":41},"收购与多元化","wenda-business-12","多元化与收购要看企业是否懂得新业务、能否创造长期价值。该章整理业务边界、收购条件、多品牌与分拆的问答及案例。",224,{"title":560,"slug":561,"description":562,"category":427,"order":563,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":16},"苹果：产品、商业模式与生态","wenda-company-apple-01","该章整理段永平认识苹果产品和生意模式的过程，涉及单一产品、用户体验、生态、取舍，以及与安卓、三星的竞争。",225,"重点公司深读",{"title":566,"slug":567,"description":568,"category":427,"order":569,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":21},"苹果：管理层与企业文化","wenda-company-apple-02","该章整理段永平对乔布斯、库克与苹果企业文化的评价，讨论报时人和造钟人、接班、产品精神及利润之上的追求。",226,{"title":571,"slug":572,"description":573,"category":427,"order":574,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":26},"苹果：估值、持有与资本配置","wenda-company-apple-03","该章按历史语境整理段永平买入和持有苹果的判断，涉及估值指标、股价下跌、分红、回购、现金与成熟期的公司价值。",227,{"title":576,"slug":577,"description":578,"category":427,"order":579,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":31},"贵州茅台：产品、品牌与商业模式","wenda-company-maotai-01","该章整理段永平对茅台品质、品牌、消费者心智与生意模式的问答，讨论护城河及产品文化和企业文化的关系。",228,{"title":581,"slug":582,"description":583,"category":427,"order":584,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":36},"贵州茅台：治理、渠道与i茅台","wenda-company-maotai-02","该章整理茅台治理、多元化、假酒、渠道和i茅台相关问答，关注直购、直销与价格体系，保留历史背景和问题中的前提。",229,{"title":586,"slug":587,"description":588,"category":427,"order":589,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":41},"贵州茅台：估值与投资判断","wenda-company-maotai-03","该章整理段永平在塑化剂事件、买入增持及长期持有茅台时的判断，涉及估值、价格、分红、回购与资本配置。",230,{"title":591,"slug":592,"description":593,"category":427,"order":594,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":51},"小霸王与步步高","wenda-company-bbk","该章整理小霸王与步步高的创业和经营问答，涉及本分诚信、不上市、不为清单、产品品牌及长期发展，保留不同年份的语境。",231,{"title":596,"slug":597,"description":598,"category":427,"order":599,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":56},"网易","wenda-company-netease","该章整理段永平发现、买入与持有网易的过程，涉及梦幻西游、丁磊、团队、现金、回购和卖出，保留不同年份的判断。",232,{"title":601,"slug":602,"description":603,"category":427,"order":604,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":62},"阿里巴巴与雅虎","wenda-company-alibaba-yahoo","该章按历史语境整理段永平投资雅虎、理解阿里股权与评价阿里文化的问答，涉及管理层、使命、假货争议、电商竞争及卖出后的观察。",233,{"title":606,"slug":607,"description":608,"category":427,"order":609,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":68},"泡泡玛特","wenda-company-pop-mart","该章呈现段永平从看不懂到重新理解泡泡玛特的过程，涉及情绪价值、壁垒、王宁、门店体验与投资操作，保留观点变化的时间语境。",234,{"title":611,"slug":612,"description":613,"category":427,"order":614,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":16},"消费电子与日本制造","wenda-company-consumer-electronics","该章整理段永平对消费电子及日本制造的历史观察，涉及国产企业、诺基亚、摩托罗拉、联想及日本公司，重点关注产品与竞争。",235,"行业与公司对照",{"title":617,"slug":618,"description":619,"category":427,"order":620,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":21},"游戏行业与中国游戏公司","wenda-company-china-games","该章整理段永平对游戏生意、好游戏、玩家体验与行业变化的问答，保留社会争议、估值和中国游戏公司案例的具体语境。",236,{"title":622,"slug":623,"description":624,"category":427,"order":625,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":26},"互联网、科技与新产业","wenda-company-tech-platforms","该章整理互联网平台、科技与新产业的公开问答，关注产品、商业模式、长期竞争力与看不懂的边界，各公司判断保留历史语境。",237,{"title":627,"slug":628,"description":629,"category":427,"order":630,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":31},"零售与服务业案例","wenda-company-retail-services","该章整理零售、服务、教育培训及航空业的公司问答，关注用户需求、生意模式和能力圈，也包含投资卖出与反思案例。",238,{"title":632,"slug":633,"description":634,"category":427,"order":635,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":36},"能源与工业企业案例","wenda-company-energy-industrial","该章整理西方石油、GE、代工业和光伏等案例，关注看懂生意、行业周期与投资反思；各段判断应结合发言日期理解。",239,{"title":637,"slug":638,"description":639,"category":427,"order":640,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":41},"传统行业公司群像","wenda-company-traditional-industries","该章按行业整理家电、汽车、食品、地产、园林与银行案例，涉及国企机制、产品竞争和估值，帮助对照不同行业的生意特征。",240,{"title":642,"slug":643,"description":644,"category":427,"order":645,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":16},"做对的事情与把事情做对","wenda-life-01","该章整理做对的事情、把事情做对与不该做的事情，涉及巴菲特、芒格、个人经历、练习和面对质疑，保留平常心的生活语境。",241,"人生与成长",{"title":648,"slug":649,"description":650,"category":427,"order":651,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":21},"正直、理性与长期视角","wenda-life-02","该章整理段永平对正直、诚信、原则和理性的讨论，关注长期视角与脚踏实地，帮助理解本分如何进入日常选择。",242,{"title":653,"slug":654,"description":655,"category":427,"order":656,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":26},"职业、创业与享受过程","wenda-life-03","职业和创业需要理解自己，并找到愿意长期投入的事情。该章整理段永平对职业选择、创业、喜欢的工作与享受过程的问答。",243,{"title":658,"slug":659,"description":660,"category":427,"order":661,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":31},"家庭、孩子与教育","wenda-life-04","该章整理段永平的家庭与教育问答，涉及陪伴、安全感、学习、金钱、游戏、边界和传承，呈现个人经验及问题的具体背景。",244,{"title":663,"slug":664,"description":665,"category":427,"order":666,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":36},"学习、阅读与公益","wenda-life-05","该章整理开放学习、阅读、AI学习与公益相关问答，关注思考逻辑、教育公益和长期环境，保留推荐、转述与个人观点的区别。",245,{"title":668,"slug":669,"description":670,"category":427,"order":671,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":41},"运动、睡眠与高尔夫","wenda-life-06","该章保存段永平关于运动、力量训练、睡眠、体检和高尔夫的个人经验问答。健康相关发言保留日期与语境，不能据此替代个人医疗判断。",246,{"title":673,"slug":674,"description":675,"category":676,"order":677,"type":9,"volume":9,"volumeOrder":9,"chapterOrder":9},"段永平如何研究一家公司：从产品、年报到企业文化","duanyongping-kan-dong-yijia-gongsi","根据段永平的公开问答，整理研究一家公司的资料清单、阅读顺序和判断框架：产品、商业模式、企业文化、财报、专项验证与估值。","公司与人物",417,{"title":676,"slug":679,"description":680,"category":676,"order":681,"type":682,"volume":9,"volumeOrder":9,"chapterOrder":9},"gongsi-yu-renwu","按段永平视角整理他高度评价、明显关注或正在重估的公司与人物，保留原文依据和边界条件。",5000,"index",{"title":684,"slug":685,"description":686,"category":676,"order":687,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"苹果：段永平为什么高度评价这家公司","company-apple","段永平最看重苹果的地方，不只是产品好，而是苹果在强企业文化下形成了强大的生态系统、商业模式和长期聚焦“做对的事情”的能力。",5010,"company",{"title":690,"slug":691,"description":692,"category":676,"order":693,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"黄峥：段永平为什么高度评价他","person-huangzheng","段永平评价黄峥，核心不是“聪明”或“年轻”，而是黄峥关注事物本质、有很强学习能力，并且对什么是对的事情有清醒认识。",5020,"person",{"title":696,"slug":697,"description":698,"category":676,"order":699,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"泡泡玛特有定价权吗：段永平视角下的提价能力","company-pop-mart","泡泡玛特已出现新品进入更高价格带与差异化需求的定价权迹象，但同款产品持续提价的能力仍待验证。本文结合财报与产品变化作编者分析，区分价格、产品升级和IP热度。",5030,{"title":701,"slug":702,"description":703,"category":676,"order":704,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"王宁：段永平为什么欣赏泡泡玛特创始人","person-wangning","段永平欣赏王宁，核心在于王宁对商业的理解、长期努力、做对事情的意识、细节能力，以及带领团队把情绪价值产品做成全球品牌的能力。",5040,{"title":706,"slug":707,"description":708,"category":676,"order":709,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"贵州茅台：段永平为什么高度评价这家公司","company-maotai","段永平看重茅台，不只是因为它贵或知名，而是因为它有稀缺产品、强品牌、长需求周期和优秀现金流，同时也需要警惕多元化、假酒和渠道问题。",5050,{"title":711,"slug":712,"description":713,"category":676,"order":714,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"网易：段永平为什么长期评价这家公司","company-netease","网易是段永平投资体系里的经典案例：低价只是入口，真正支撑他长期持有的是游戏业务、现金、朴实团队和丁磊没有乱花钱的克制。",5060,{"title":716,"slug":717,"description":718,"category":676,"order":719,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"腾讯：段永平为什么认为它是长坡厚雪","company-tencent","段永平认可腾讯，是因为它有强大的社交关系、微信和微信支付带来的深远影响，以及不错的商业模式和企业文化；但他也承认自己对腾讯的理解不如苹果。",5070,{"title":721,"slug":722,"description":723,"category":676,"order":724,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"阿里巴巴：段永平为什么曾高度评价又保留","company-alibaba","段永平曾高度评价阿里和马云，核心是企业文化、使命感和长坡厚雪；但后来对业务复杂度、公司问题和再现辉煌的不确定性保留明显。",5080,{"title":726,"slug":727,"description":728,"category":676,"order":729,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"拼多多：段永平如何看这家公司","company-pinduoduo","段永平对拼多多的判断，起点是黄峥和团队：他认可人、学习能力和本分文化，但也一直把拼多多放在“仍需继续看懂商业模式”的框架里。",5090,{"title":731,"slug":732,"description":733,"category":676,"order":734,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"英伟达：段永平为什么说它厉害但难看懂","company-nvidia","段永平承认英伟达非常厉害，甚至称其“堪称芯片界的苹果”；但他真正保留的是长期护城河、算力需求持续性和自己能否看懂十年。",5100,{"title":736,"slug":737,"description":738,"category":676,"order":739,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"任天堂：段永平从中学到什么","company-nintendo","任天堂在段永平体系里更像早期经营经验的参照物：他从任天堂理解了游戏行业、渠道成本和单一产品模式，也借此形成了后来理解苹果、网易的框架。",5110,{"title":741,"slug":742,"description":743,"category":676,"order":744,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"GE：段永平为什么后来修正这笔投资","company-ge","GE 是段永平体系里的反面教材：他曾因企业文化和韦尔奇叙事认可 GE，但后来发现生意太复杂、文化理解不够扎实、多元化并非例外。",5120,{"title":746,"slug":747,"description":748,"category":676,"order":749,"type":688,"volume":9,"volumeOrder":9,"chapterOrder":9},"新东方：段永平为什么既认可又保留","company-new-oriental","段永平认可新东方和俞敏洪的韧性，也认为新东方能做到今天很了不起；但他不太喜欢这类“力气活”生意模式，也难以找到愿意永远持有的感觉。",5130,{"title":751,"slug":752,"description":753,"category":676,"order":754,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"巴菲特：段永平为什么高度尊重他","person-buffett","段永平尊重巴菲特，不是因为“股神”光环，而是因为巴菲特把“买股票就是买公司”坚持到骨子里，并以朴实、谦虚、长期和理性的方式生活。",5200,{"title":756,"slug":757,"description":758,"category":676,"order":759,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"芒格：段永平为什么重视他的理性","person-munger","段永平重视芒格，核心在“理性”：芒格讲的 rationality，和段永平讲的平常心几乎是同一件事。",5210,{"title":761,"slug":762,"description":763,"category":676,"order":764,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"乔布斯：段永平为什么说他既是报时人也是造钟人","person-steve-jobs","段永平对乔布斯的评价，核心不是个人崇拜，而是乔布斯把“利润之上的追求”注入苹果文化，并留下了能继续运转的组织。",5220,{"title":766,"slug":767,"description":768,"category":676,"order":769,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"库克：段永平为什么认为他是更好的 CEO","person-tim-cook","段永平评价库克，核心是理性、理解乔布斯追求、延续苹果文化，并把苹果从乔布斯时代带入更大规模的长期经营。",5230,{"title":771,"slug":772,"description":773,"category":676,"order":774,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"马云：段永平为什么一直认为他了不起","person-mayun","段永平对马云的评价长期很高：他看重马云兼具理想主义和现实主义，也欣赏其勇气和企业文化意识；但这不等于他对阿里没有保留。",5240,{"title":776,"slug":777,"description":778,"category":676,"order":779,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"丁磊：段永平为什么说他很有悟性","person-dinglei","段永平评价丁磊，核心是“很有悟性”、单纯、不算计人，而且在网易现金很多时没有犯大错。",5250,{"title":781,"slug":782,"description":783,"category":676,"order":784,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"马化腾：段永平为什么正面评价他","person-mahuateng","段永平对马化腾的评价简洁但重要：人不错、年轻，并且微信和微信支付的影响非常大且深远。",5260,{"title":786,"slug":787,"description":788,"category":676,"order":789,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"俞敏洪：段永平为什么说他是条汉子","person-yuminhong","段永平欣赏俞敏洪的韧性和面对问题的能力，甚至说他是“条汉子”；但也认为俞离顶级企业家还有距离，新东方生意模式不是自己特别喜欢的类型。",5270,{"title":791,"slug":792,"description":793,"category":676,"order":794,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"季克良：段永平为什么说他对茅台至关重要","person-jikeliang","段永平评价季克良，核心是质量文化和造钟人作用：季克良让茅台成为今天的茅台，功不可没。",5280,{"title":796,"slug":797,"description":798,"category":676,"order":799,"type":694,"volume":9,"volumeOrder":9,"chapterOrder":9},"黄仁勋：段永平为什么欣赏他","person-huangrenxun","段永平欣赏黄仁勋，重点在真诚、有能量、长期方向一致，以及带领英伟达形成强生态；但他仍然区分“欣赏人”和“看懂英伟达十年护城河”。",5290,{"title":801,"slug":802,"description":803,"category":676,"order":804,"type":805,"volume":9,"volumeOrder":9,"chapterOrder":9},"段永平高度评价过的公司","topic-highly-rated-companies","段永平高度评价公司时，核心标准不是名气，而是能否长期做对事情：好产品、好商业模式、好文化、好管理层和可理解的未来现金流。",5300,"topic",{"title":807,"slug":808,"description":809,"category":676,"order":810,"type":805,"volume":9,"volumeOrder":9,"chapterOrder":9},"段永平高度评价过的人","topic-highly-rated-people","段永平评价人，重点不是名气，而是这个人是否理性、真诚、关注本质、能长期做对事情，并能把个人能力沉淀为组织能力。",5310,{"title":812,"slug":813,"description":814,"category":676,"order":815,"type":805,"volume":9,"volumeOrder":9,"chapterOrder":9},"段永平正在重估的公司","topic-revaluated-companies","段永平的重估案例最值得看的是变化过程：他会承认看不懂，也会在新证据出现后调整判断，但始终保留能力圈和长期现金流边界。",5320,{"id":817,"title":484,"body":818,"category":427,"chapterOrder":36,"date":9,"description":486,"editor":1769,"extension":1770,"meta":1771,"navigation":1772,"order":487,"path":1773,"publishedAt":9,"seo":1774,"seoDescription":486,"seoTitle":1775,"slug":485,"source":9,"sourceAuthor":1197,"sourceDate":9,"sourceNote":1776,"sourceStatus":1777,"sourceUrl":9,"sources":1778,"stem":1779,"summary":486,"tags":1780,"type":435,"updatedAt":1783,"volume":467,"volumeOrder":21,"__hash__":1784,"_collection":1785},"dao\u002Fdao\u002Fqanda\u002Fwenda-business-06.md",{"type":819,"value":820,"toc":1760},"minimark",[821,826,830,836,842,850,856,862,865,870,873,878,881,886,889,894,900,908,911,919,925,935,941,945,948,953,956,961,968,973,976,988,991,994,999,1002,1007,1010,1015,1018,1021,1026,1029,1032,1035,1038,1041,1047,1055,1073,1084,1087,1092,1098,1106,1117,1120,1131,1135,1140,1145,1152,1155,1160,1163,1169,1172,1177,1186,1190,1193,1199,1202,1207,1210,1213,1216,1219,1222,1225,1228,1233,1236,1239,1244,1247,1252,1255,1258,1261,1264,1267,1270,1273,1276,1281,1284,1289,1294,1297,1302,1305,1310,1313,1318,1323,1326,1331,1334,1339,1342,1347,1350,1355,1362,1368,1371,1376,1379,1382,1387,1390,1395,1398,1403,1406,1411,1414,1419,1422,1427,1434,1439,1442,1447,1450,1459,1462,1465,1472,1478,1483,1490,1504,1512,1516,1522,1527,1530,1533,1538,1541,1544,1547,1552,1555,1560,1563,1568,1571,1576,1579,1584,1587,1590,1593,1596,1599,1602,1605,1620,1625,1634,1642,1645,1648,1653,1659,1667,1673,1678,1681,1694,1703,1713,1718,1723,1727,1737,1745,1754],[822,823,825],"h2",{"id":824},"第一节-品牌是什么","第一节 品牌是什么",[827,828,829],"p",{},"网友：一直想不明白品牌对于一个企业来说意味着什么。身边的朋友有很多并不知道苹果为什么好，但是很多都觉得苹果是最好的手机，我自己没用过三星的手机，但是心里却认为苹果要比三星好很多，如果换的话还会选择苹果。每次我和人提起茅台，很多都觉得它是最好的酒，这种观念对茅台来说能带来些什么？人的观念容易改变吗？",[827,831,832],{},[833,834,835],"strong",{},"段永平：个人理解，品牌就是产品在人们心中留下的印象。一般来讲，好的印象传播得比较慢一点，坏的传播得比较快一些。广告是企业主动去传播其产品的印象。好的企业会如实地传播而不好的企业经常会蒙人。老百姓心里有杆秤，只要时间足够长，大多数人都会对自己关心的产品的品牌有个大致正确的印象。",[827,837,838,841],{},[833,839,840],{},"建立一个好的印象一般需要很长的时间，但破坏一个好的印象可以只需要很短的时间或某一两件事情。所以建立一个好的品牌是非常不容易的。互联网加快了传播的速度和到达目标受众的准确率但不会改变事情的本质，这个本质就是好产品最后会有好印象，能够一直有好产品的公司会活得比较好，短视的公司最后会有麻烦。"," （2014.07）",[827,843,844,845,849],{},"我的理解，所谓",[846,847,141],"a",{"href":848},"\u002Fpinpai","就是公司过去做过的所有事情（产品）在消费者心中的烙印（印象），好坏大家都会记得的。（2019-08-20）",[827,851,852,853],{},"网友：听君一席言，明白了好些道理。",[833,854,855],{},"1、extremely good for a few things.专注专业。2、差异化，能满足别人满足不了的需求，是合理价格的支撑。3、消费者其实是最聪明的，最终还是能感受到产品解决问题能力的差异，下了功夫的真实价值终究会得到认可和追捧。4、口碑对品牌的支撑很重要。在这里最大的收获就是平和，懂得道理就“心平气和”了",[827,857,858,861],{},[833,859,860],{},"段永平："," 呵呵，总结得很好！（2010-04-17）",[827,863,864],{},"网友：小天才平板电脑真的是好东西啊一出来我就想买两台给小孩用，让小孩从IPAD（平板电脑）解放出来。我是知道小天才是步步高的。真担心其他消费者不知道小天才是步步高的而选择购买其他品牌的产品。毕竟步步高复读机培养的一群消费者现在都有钱了！",[827,866,867,869],{},[833,868,860],{}," 小天才平板电脑就是给小孩用的，在小孩的眼睛保护上下了功夫，比iPad强。至于品牌嘛，本来就是产品的积累，到时该知道的就知道了。（2014-11-16）",[827,871,872],{},"网友：格力一直以来投入巨额的研发费用，到底是消费者受益了还是格力自己受益了？格力的研发费用的投入会不会和纺织厂购入新设备一样？",[827,874,875,877],{},[833,876,860],{}," 格力的品牌会积累价值，巴菲特说的纺织厂好像不行，有点像OEM厂。（2010-08-14）",[827,879,880],{},"网友：今天去商场的时候顺便去步步高和OPPO的专柜看了看，也和促销员随意地聊了聊，感觉她们劲头挺足的，说步步高将成为国内的诺基亚，自己也简单试用了两个牌子的几款机子，感觉还不赖。顺便说说自己以前使用国产手机波导的经历，真是很痛苦，太不人性化了，所以后来一直没用过国产的。看来以后要改观了，盼望国货能自强。",[827,882,883,885],{},[833,884,860],{}," 最好不要概念化国货。产自什么品牌有时也是很重要的（我觉得比产自哪个国家重要）。我们的蓝光DVD在美国卖得还不错，国内却不行，有个可能就是高档的东西大家不太相信“国货”。老美不太管那么多，只要东西好就行。（2010-06-14）",[827,887,888],{},"网友：我不懂如何看房地产产业，来这里学习学习。我想聊一点：我觉得房地产缺乏品牌认同的行业，消费者买房子不怎么看开发商是谁，而是看价钱，地段等等。",[827,890,891,893],{},[833,892,860],{}," 呵呵，品牌在这个行业里绝对有价值。",[827,895,896,897,899],{},"网友：海外买房似乎很少人留意房子是谁造的或者是啥",[846,898,141],{"href":848},"。",[827,901,902,904,905,907],{},[833,903,860],{}," 社会信任度越低，",[846,906,141],{"href":848},"的作用越大。(2010-07-08)",[827,909,910],{},"网友：轰轰烈烈的保健品浪潮，不知道您是否还记得那个疯狂的年代。三株口服液、太阳神、昂立一号，我记得当时我工资只有200多元，但是我的一位朋友因为从事保健品的销售，每个月收入居然达到了4000元。",[827,912,913,915,916],{},[833,914,860],{}," ",[833,917,918],{},"三株口服液流行的时候，当时负责乐百氏销售工作的朋友问我怎么看。我说这看着像是家有一天会突然倒下的公司。我当时看到的东西是，这个公司的产品没有实质性作用，知名度还很高，只要出一次事估计就扛不住。",[827,920,921,922,924],{},"网友：我觉得房地产是缺乏",[846,923,141],{"href":848},"认同的行业，消费者买房子不怎么看开发商是谁，而是看价钱、地段等等。",[827,926,927,915,929],{},[833,928,860],{},[833,930,931,932,934],{},"呵呵，",[846,933,141],{"href":848},"在这个行业里绝对有价值。",[827,936,937,938,940],{},"想想如果你自己买房子的话，你会在乎",[846,939,141],{"href":848},"吗？我不信有人不在乎。(2010-07-06)",[822,942,944],{"id":943},"第二节-品牌没有溢价","第二节 品牌没有溢价",[827,946,947],{},"网友：请问对于一些行业，比如服装，时尚用品，饮料等行业，品牌都非常重要，有些品牌甚至带来比较大的溢价。再比如门户网站也好像比较依赖品牌忠诚度，打开几大门户，内容差别似乎都比较小。品牌的崛起和衰落有些什么规律？相信在中国对品牌的理解比段总强的人不多了。",[827,949,950,952],{},[833,951,860],{}," 品牌溢价我觉得是一种误解。品牌只是物有所值而已。当一个品牌想当然认为其有溢价时，会很容易犯错误。（2010-06-15）",[827,954,955],{},"网友O：段总能否说细点？",[827,957,958,960],{},[833,959,860],{}," 想想如果你自己买房子的话，你会在乎品牌吗？我不信有人不在乎。（2010-07-05）",[827,962,963,964,967],{},"网友：我对名牌的理解是",[846,965,212],{"href":966},"\u002Fxinyu","度，美誉度的一种保证，买名牌至少在质量上会比较放心，还有产品比其他同类产品要出色，比如设计，服务等，可能这就叫一分钱一分货，名牌产品的含金量确实要比一般的同类商品要高，所以贵一些就是自然的了，但贵多少能接受，买家仍然认可购买，这可能就是名牌的溢价。",[827,969,970,972],{},[833,971,860],{}," 名牌之所以是名牌一般都是有道理的。（2010-04-16）",[827,974,975],{},"网友：能不能举例子.说明物有所值？",[827,977,978,980,981],{},[833,979,860],{}," 大多数人买有品牌的东西时肯定不是冲着“溢价”去的。",[833,982,983,984,987],{},"所谓品牌其实就是某种（些）",[846,985,146],{"href":986},"\u002Fchayihua","的浓缩。",[827,989,990],{},"早年我开的车就是属于特别便宜的车，觉得都是代步，没必要多花钱。后来偶尔有一次试了一下“好车”，第二天就去买了一部，因为发现确实差别好大。",[827,992,993],{},"呵呵，看看你自己拥有的品牌产品时，你会发现其实没那么难。（2010-06-16）",[827,995,996,998],{},[833,997,860],{}," 我个人观点认为品牌是没有溢价的，一般人看到的溢价其实是假象。贵的品牌往往有贵的道理，不然他就不会（或叫不能）持续。“溢价”感觉像是同样的东西在卖不同的价钱，呵呵，他们确实是不同的东西，但可能是同一类别。",[827,1000,1001],{},"网友：段总认为品牌没有溢价。但我还是认为品牌能够带来溢价，要么为什么那么多企业要建品牌。",[827,1003,1004,1006],{},[833,1005,860],{}," 也许是说法不同。没有品牌连生存都会有问题，因为你的消费者无法识别你的产品。",[827,1008,1009],{},"网友D：但看着还是生气，每次都会拿两个的好企业开刀，这什么价值观，还有没有是非了？",[827,1011,1012,1014],{},[833,1013,860],{}," 只有有名的企业才会有瞩目率，也只有在乎自己品牌的企业才会在乎，而且……明白？",[827,1016,1017],{},"网友：请问怎么看待“品牌溢价”、“品牌价值”呢？市面上流行一种观点，认为像阿迪耐克这样的企业产品价格卖得高是品牌强，而李宁安踏类的品牌弱不能获得品牌溢价使得价格便宜。前段时间媒体爆出LV（路易威登）、阿玛尼奢侈品生产成本只有几十美金，却能通过品牌溢价卖到几百美金的价格。很多企业也热心积极推进品牌管理，提升品牌形象，想要获得品牌溢价。",[827,1019,1020],{},"请问段先生是怎么理解“品牌”的作用？",[827,1022,1023,1025],{},[833,1024,860],{}," 不是很理解人们常说的品牌溢价到底是什么意思。",[827,1027,1028],{},"所谓的品牌其实就是人们对品牌产品留下的印象（好的坏的）。",[827,1030,1031],{},"我个人观点长期来讲品牌是没有“溢价”的，不然你就不买了。",[827,1033,1034],{},"长期来讲，品牌卖的就是其该卖的价钱。",[827,1036,1037],{},"品牌绝对不只是一个名字！在这点上老马也是不对的。",[827,1039,1040],{},"建立一个好的品牌绝对不是一朝一夕之功，但毁掉一个好品牌可以很快。（2011-08-03）",[827,1042,1043,1044,1046],{},"网友：我发现一些人非常喜欢名牌，如手机衣服，买不起正品就买山寨的，也许是人的一种虚荣心吧。我现在不太重视",[846,1045,141],{"href":848},"，我重视产品的质量。",[827,1048,1049,1051,1052,1054],{},[833,1050,860],{}," 多数情况下，不知道在不重视",[846,1053,141],{"href":848},"的前提下，如何重视质量。(2010-06-17)",[827,1056,1057,1058,1060,1061,1063,1064,1066,1067,1069,1070,1072],{},"不是很理解人们常说的",[846,1059,141],{"href":848},"溢价到底是什么意思。所谓的",[846,1062,141],{"href":848},"其实就是人们对",[846,1065,141],{"href":848},"产品留下的印象(好的坏的)。我个人认为长期来讲",[846,1068,141],{"href":848},"是没有溢价的，不然你就不买了。长期而言，",[846,1071,141],{"href":848},"卖的就是其该卖的价钱。",[827,1074,1075,1077,1078,1080,1081,1083],{},[846,1076,141],{"href":848},"绝对不只是一个名字！建立一个好的",[846,1079,141],{"href":848},"绝对不是一朝一夕之功，但毁掉一个好",[846,1082,141],{"href":848},"可以很快。(2011-08-03)",[827,1085,1086],{},"网友：一家公司产品的附加值或者说是名牌的溢价，这些多出来的价格，是感觉上的东西还是可以量化？",[827,1088,1089,1091],{},[833,1090,860],{}," 可以量化。你花钱时就是一种量化，不同的牌子你会给不同的价钱。(2010-04-16)",[827,1093,1094,1095,1097],{},"网友：如果没有溢价，为什么那么多企业要建",[846,1096,141],{"href":848},"?",[827,1099,1100,1102,1103,1105],{},[833,1101,860],{}," 也许是说法不同。没有",[846,1104,141],{"href":848},"连生存都会有问题，因为你的消费者无法识别你的产品。(2010-05-14)",[827,1107,1108,1110,1111,1113,1114,1116],{},[846,1109,141],{"href":848},"溢价我觉得是一种误解。",[846,1112,141],{"href":848},"只是物有所值而已。当一个",[846,1115,141],{"href":848},"想当然认为其有溢价时，会很容易犯错误。(2010-06-15)",[827,1118,1119],{},"想起一个故事，很久以前有个记者朋友来我这问我一个问题：“为什么我采访了好几家企业，他们都说自己是电话机行业里的第二？到底谁第一呢？”我说，我们知道但不说，因为消费者不关心这个问题。（2010-06-08）",[827,1121,1122],{},[833,1123,1124,1125,1127,1128,1130],{},"我个人观点认为",[846,1126,141],{"href":848},"是没有溢价的，一般人看到的溢价其实是假象。贵的",[846,1129,141],{"href":848},"往往有贵的道理，不然它就不会(或叫不能)持续。溢价感觉像是同样的东西在卖不同的价钱。",[822,1132,1134],{"id":1133},"第三节-不存在品牌忠诚度","第三节 不存在品牌忠诚度",[827,1136,1137],{},[833,1138,1139],{},"引用：福布斯：用户容忍苹果产品瑕疵源于品牌忠诚度",[827,1141,1142,1144],{},[833,1143,860],{}," 用户容忍瑕疵或许有很多原因，但和品牌忠诚度不太有关系吧？如果iphone没那么好用，人们会容忍他的瑕疵？和乔布斯有啥关系？我就一直不习惯用Mac，乔布斯在不在我都不习惯。（2011-11-28）",[827,1146,1147,1148,1151],{},"网友：有个问题想请教一下大道：波特的五力模型能否用来验证“是否是好的",[846,1149,70],{"href":1150},"\u002Fshangyemoshi","”？",[827,1153,1154],{},"我的理解：好的生意模式，是为了能让（供应商+公司+客户）总值最大化，如果单纯只强调其中的任意一方或两方的利益，最终是不能维持下去的，也不是好的生意模式。大道如何看呢？",[827,1156,1157,1159],{},[833,1158,860],{}," 喜诗糖果是好的生意模式。比如情人节你到商店给太太买点喜诗糖果，商店说没这个牌子，但有喜词糖果，然后你说“那我去隔壁看看”。你去商店想买台iphone5，商店说缺货，但有gphone6，然后你说我等iphone5。说了半天，好像和利益都没啥关系。（2012-05-02）",[827,1161,1162],{},"网友：这就是品牌忠诚度，对吗？",[827,1164,1165,1168],{},[833,1166,1167],{},"段永平：我不是很相信顾客会有“品牌忠诚度”，顾客忠诚的是品牌后面的东西，不然假的会卖得和真的一个价还会卖得一样好"," 。（2012-05-02）",[827,1170,1171],{},"网友D：有人用苹果是因为其功能，有人是因为其时尚身份。对品牌背后的需求不同，可能在变化时忠诚度也就不同了。我不止听到一个人说，苹果都成街机了，用起来不如最初那般有面子了，这个群体的忠诚度又会如何？",[827,1173,1174,1176],{},[833,1175,860],{}," 呵呵，这个群体的忠诚度可能更高，因为不用会没面子的。（2012-05-02）",[827,1178,1179,1180,1182,1183,1185],{},"我不是很相信顾客会有“",[846,1181,141],{"href":848},"忠诚度”，顾客忠诚的是",[846,1184,141],{"href":848},"后面的东西，不然假的会卖得和真的一个价还会卖得一样好。",[822,1187,1189],{"id":1188},"第四节-品牌的名字","第四节 品牌的名字",[827,1191,1192],{},"网友：大道您好，我孩子2个月后出生，它名字我想了大半年了没想好，请大道和各位大道粉丝帮忙。",[827,1194,1195,1198],{},[833,1196,1197],{},"段永平"," ：给人取名字我没啥经验，但给产品取名字还是有些想法的。其实名字没那么重要，名字的含义都是后天赋予的，所以取名字主要考虑的是有没有负面的东西。",[827,1200,1201],{},"比如，不要取那些别人大概率会念错的名字，尽量不要有歧义（尤其是负面的歧义）……给产品取名字时还需要考虑平衡性，比如“小霸王”这个名字虽然很好，易传播，少歧义，但“霸”子笔画太多，与“小”和“王”怎么配都不容易好看哈。（2019-09-14）",[827,1203,1204,1206],{},[833,1205,860],{}," 苹果和唯冠的ipad商标之争还是没结果，也确实很难猜测最后的结局。也许这是个不该发生的故事，如果当年苹果买唯冠的ipad商标时能多付点钱的话。不管结局如何，感觉苹果在这件事情上都是赚了小便宜最后吃了大亏，属于聪明反被聪明误的那种。",[827,1208,1209],{},"不过买商标确实也是件不容易的事，我们的小天才宝贝电脑用的“小天才”商标就是买回来的。上个世纪90年代初的时候，“小天才”在游戏机领域是个非常响当当的牌子，产品的质量和口碑都非常好，在我的感觉里是曾经唯一可以有机会和“小霸王”一比的牌子。后来不知道什么原因“小天才”就慢慢在市场上消失了。",[827,1211,1212],{},"实际上“小天才”这3个字比“小霸王”这3个字的平衡性要好很多，主要是“霸”的笔画太多，导致“小霸王”3个字怎么设计都不太好看。在步步高创业初期，我们曾经找到“小天才”商标所有人，提出想买这个商标（那是他们在市场已经上没产品了），并出到了300万的价钱，结果被一口回绝了。",[827,1214,1215],{},"10年后的某一天（大概是2007或2008年？），我突然想到也许我们该再试试，因为想个好商标名确实是件非常难的事，尤其是3个字商标基本上都被注绝了。如果能够以不太贵的价钱买到一个好的商标名字绝对是合算的。",[827,1217,1218],{},"于是我们费尽九牛二虎之力终于找到了“小天才”的商标所有人。不过这一次我们吸取了上次的经验，委托了一个中间公司出面购买。结果对方直接出价就是30万，而且一再强调他这个牌子是很值钱的，10年前步步高就曾经出过300万想买。过程自然是很顺利，一切按照法律手续，大概大半年后这个牌子就归到我们公司了。",[827,1220,1221],{},"其实我们当时还是打算用300万买的，哪怕今天当时“小天才”的所有人找到我们，我们依然还可以补足他，因为实在是不想赚他的便宜。",[827,1223,1224],{},"不过据说后来又找不到他了，希望他运气好能看到这个帖子哈。",[827,1226,1227],{},"网友：我想问下您明明30万已买了的商标，怎么还愿意补偿给商标所有人。一般在生意过程中怎么把握厚道和每一分都要算计这个度？是不是只有厚道的生意人才能做得大？",[827,1229,1230,1232],{},[833,1231,860],{}," 因为我们本来就觉得300万是个很好的价钱，没想到对方给的价钱那么低。厚道和做得大没有必然联系，但厚道的生意人可能能睡得好点吧。（2012-03-01）",[1234,1235],"hr",{},[827,1237,1238],{},"**步步高取名 **",[827,1240,1241,1243],{},[833,1242,860],{}," 那么步步高也是我们征名征来的。",[827,1245,1246],{},"主持人：那您为什么当时从那么多征名里面挑选这个步步高？又是取它什么样的意义呢？",[827,1248,1249,1251],{},[833,1250,860],{}," 我们当时建立这个品牌的时候，很多人给我们提个建议，比方说你起一个洋名字，那么看起来像一个外资或者外来的东西，我说这个跟我这个……因为我做企业一开始，我就提出要以诚为本，就我不能蒙人家，那么你起个洋名字本意就是已经想蒙人了，就让人家以为你是个洋的东西，所以我跟大家讲我说我一定要取一个本土的名字，那么品牌它有一个最基本特征。",[827,1253,1254],{},"第一、你这个字不能够复杂。",[827,1256,1257],{},"就是因为我做小霸王的时候那个霸字给我带来很多困惑，所以我就有一个这样的定义，就是说名字不能够笔画太复杂，让你有很多地方你做不了，那么这是其一；",[827,1259,1260],{},"其二、不能有异议。",[827,1262,1263],{},"异议就是说有时候步步高，大家很清楚哪个步哪个高你一定很清楚，对吧？",[827,1265,1266],{},"第三、容易传播容易记。",[827,1268,1269],{},"那么一来我们一征名征上万个名字，有很多人帮我挑，最后当时是我的秘书就这个名字让我看一看，哎，就是它了，我觉得这挺好，嗯，它是挑出来的，并不是我真的自己想到的，而且我们当时在这个设计这个征名的时候本身还出了个问题，就征名一般是取唯一的吗？",[827,1271,1272],{},"我们就没有想过这个问题，就觉得没想过征名会有来那么多，那么就发现我来了很多，就是其中有八个是叫步步高的，我们那个时候是，我们要是用你的我们就付5000块钱，所以最后只好是这八个人每个人付5000，我说还好不是80个，要是80个我可能就要选择我不用这个了。",[827,1274,1275],{},"**小霸王取名 **",[827,1277,1278,1280],{},[833,1279,860],{}," 那是一个很偶然的因素，跟几个朋友在吃饭的时候都在想给公司取什么名字，有人看到小霸王汽车说不如叫“小霸王”，我觉得这个名字好，对我们这类产品的取名感觉很有个性比较容易记住。但霸太复杂是缺陷，在推广中带来很多困惑，小和王笔画简单，霸字笔画太多不均衡，传播性和异议性都很好，传播效率高。",[827,1282,1283],{},"网友：还是OPPO读起来方便·语音测试不是白做的啊·",[827,1285,1286,1288],{},[833,1287,860],{}," OPPO这名字起得不容易啊，前后好多年功夫呢。",[827,1290,1291,1293],{},[833,1292,860],{}," 品牌最忌讳的就是用有含义的名字，因为本来含义就是应该通过产品去赋予的，比如SONY。但是特别强大的产品可以改变原有的含义，让不好的品牌名字变得很响亮，人们会忘记原来的意思。比如：苹果、微软",[827,1295,1296],{},"网友：oppo r817的整体ui有深度的美化，菜单没有传统android那种黑压压的感觉，定位在年轻时尚上的real系列，有一点清新可爱的感觉，视觉感受很舒服，有意思",[827,1298,1299,1301],{},[833,1300,860],{}," 起型号名字的水平是诺基亚级别的，感觉有点故意让人记不住的意思。不过这是我的责任，因为我在的时候就这样。",[827,1303,1304],{},"网友：成功在细节处。",[827,1306,1307,1309],{},[833,1308,860],{}," 要不是苹果，也不觉得自己这么做有啥不对的。",[827,1311,1312],{},"网友：怎么什么事都怪到你头上了",[827,1314,1315,1317],{},[833,1316,860],{}," 因为这个起名字的办法确实是我起头的，从很久以前的小霸王游戏机叫D21\u002FD25开始就这样。而且这个起名字的办法是和日本人学的，当时松下电视机有D21\u002FD25的型号。",[827,1319,1320,1322],{},[833,1321,860],{}," 为什么叫vivo X1S？不能就叫vivo X2吗？多个字母会降低很多传播效率，2点其实没关系的。不能因为苹果干傻事我们就可以干哈。再说，苹果叫啥都能轻松被人记得的，我们好像还有点差距。（2013-04-17）",[827,1324,1325],{},"网友：vivo x2域名被占用了，无法注册，所以被迫更名x1s",[827,1327,1328,1330],{},[833,1329,860],{}," wow，这个可有点不好。后面的要早点注册了。（2013-04-18）",[827,1332,1333],{},"网友：呵呵！段总，求责于己！要不改成R8如何？既简单好记又符合国际潮流！",[827,1335,1336,1338],{},[833,1337,860],{}," OPPO R8看起来好像比OPPO R817好。不过R不好读哈。（2012-09-18）",[827,1340,1341],{},"网友：提到BBK（步步高）和OPPO，想请教段兄一个问题。其实我感觉用BBK（步步高）这个名字打国际市场，应该也是个很好的名字啊？多延伸出一个品牌，是怎样的一种经营战略考虑的？会不会两个品牌容易分薄了资源？",[827,1343,1344,1346],{},[833,1345,860],{}," 我记得曾经测试过BBK，好像在有些市场不太合适，有些地方发音都不同。OPPO则在绝大部分地区都基本一样。（2010-04-02）",[827,1348,1349],{},"网友：我也认为想好商标名确实是件非常难的事。我是建材行业的，我这个筑道名称也是注册商标，自己比较喜欢。",[827,1351,1352,1354],{},[833,1353,860],{}," 这个名字的同一发音有歧义，不是很适合做消费品的牌子。（2012-03-02）",[827,1356,1357,1358,1361],{},"网友：没想到段总对商标名称也有这么深的理解，我是做地坪漆的，我针对每个不同性能产品给了一个牌子，工业用固地宝、地坪宝、菲凡士、地甲、民用的牌子是地美丽、地平宝。其中菲凡士是受步步高名称启发的，段总可否点评一下（",[833,1359,1360],{},"给商标起好名的原则）"," ，谢谢！",[827,1363,1364,1367],{},[833,1365,1366],{},"段永平：你随便找个不知道这个名字的人说一下，看看需要多久他可以复述（说对并写出来）。然后用“小天才”或“步步高”对比一下。多出来的时间的比例就是你未来为推广这个牌子要多花的代价（"," 如果达到一样的知名度和美誉度的话。）（2012-03-02）",[827,1369,1370],{},"网友：朋友想开家卖牛肉汤的店，起名字有没有什么需要遵守的原则啊？",[827,1372,1373,1375],{},[833,1374,860],{}," 别起那些让人想起就没食欲的，另外就是不要有歧义的，最好是一说就能写出来的。（2014-07-06）",[827,1377,1378],{},"网友：发现一个对产品型号命名的有趣现象：做得比较好的，名字都非常好记而且不会弄乱；比如汽车里的奥迪A4、A6、A8；宝马X1、X3、X5；奔驰S350、S600……像Model S P85D记起来就要复杂一些，取各种奇怪难记笔画又多的名字的车（这个就不举例了）貌似最后销量都不大。手机行业好像也存在这个现象。",[827,1380,1381],{},"肯定不是由名字决定产品的销量，但我觉得一个重视用户的企业，会重视取名这个环节。假设茅台按您说把年份标示清楚的思路想想，未来的茅台叫：飞天5、飞天10、飞天15、飞天30，很好记忆啊！",[827,1383,1384,1386],{},[833,1385,860],{}," 取名字确实很重要，大概相当于锦上添花，最重要的还是产品。（2015-04-05）",[827,1388,1389],{},"网友：好的名字，是营销成功的关键啊！",[827,1391,1392,1394],{},[833,1393,860],{}," 关键是产品！营销远没有你想的那么重要。比如茅台的营销不算非常好，不然会更厉害的。（2015-04-05）",[827,1396,1397],{},"网友：关键是产品要好，要符合消费者需求！好的名字，也是好产品很重要的一部分哈，那些做2好的产品，大多都有一个好名字。国酒茅台，酿造高品味的生活。第一次看见，牢牢记住了。",[827,1399,1400,1402],{},[833,1401,860],{}," microsoft，panasonic都不是啥好名字，Sony是好名字。（2015-04-07）",[827,1404,1405],{},"网友：OPPO和VIVO都是好名字，而且不仅仅名字好，产品也好。希望能成为国内像苹果一样的优秀公司……",[827,1407,1408,1410],{},[833,1409,860],{}," vivo的商标是都是小写的，小写的有些道理哈。vivo的商标设计有些小问题，在西班牙语里vivo是直播的意思，另外vivo在美国有同名的公司，似乎这个设计时有点仓促，当然找个合适的名字非常不容易。（2015-05-07）",[827,1412,1413],{},"网友：不会是网易有道就是从“取之有道”这里来！百度来自“众里寻他千百度”。",[827,1415,1416,1418],{},[833,1417,860],{}," 呵呵，也许是吧，不过没问过。（2010-05-23）",[827,1420,1421],{},"网友：oppo和苹果容易搞混。不知道段总设计oppo想没想到苹果。",[827,1423,1424,1426],{},[833,1425,860],{}," 你是说商标？我们设计OPPO时苹果还在生死线上挣扎呢，要是现在出还真说不清了。（2010-10-24）",[827,1428,1429,1430,1433],{},"网友：不敢苟同唉，我的企业精力一定是围绕产品、用户和",[846,1431,161],{"href":1432},"\u002Fqudao","的。你看王老吉被迫叫加多宝，名字受到很大影响。但坚实的产品和渠道是核心，人家没伤元气，对不？",[827,1435,1436,1438],{},[833,1437,860],{}," 5年以后再说这话。其实企业非常不容易，每个细节都可能有影响。在可能的前提下要注重每个细节。另外，你看看加多宝为了改这个名字花了多少钱吧。（2012-09-18）",[827,1440,1441],{},"网友：人才与天才的差别：天才看起来有点“二”。",[827,1443,1444,1446],{},[833,1445,860],{}," 我喜欢“小天才”这个名字。（2011-02-08）",[827,1448,1449],{},"网友：我给儿子买了小天才，998元，很值，我一直不会教育孩子，现在全解决了，段总是你创办的吗？感觉市场很大。",[827,1451,1452,1454,1455,1458],{},[833,1453,860],{}," 这个产品对适龄的小朋友确实蛮好的，而且市场上基本没有这么好的东西，不过ipad会有影响。",[833,1456,1457],{},"小天才现在是我们公司的品牌了，说起来话长啊。"," （2011-07-08）",[827,1460,1461],{},"网友：小天才，这个名字取的太好了。大道是你取的吗？",[827,1463,1464],{},"大道：“小天才”我们买下来的牌子。小天才曾经是我们小霸王年代最欣赏的品牌，而且“小天才”商标和“小霸王”一样，无歧义容易记且传播性好。“小天才”三个字非常均衡，户外广告设计难度小很多。“小霸王”的霸字太复杂了，户外广告和很多其他广告都很难设计，成本也会高一些。（2026-08-10）",[827,1466,1467,1468,1471],{},"“",[833,1469,1470],{},"可口可乐","凉茶名为夏枯草。”(新闻)",[827,1473,1474,1475,1477],{},"“夏枯草”？不知道为什么听着像毒药？其实我想说的是，我记得我们给产品取名字时一般要做语义测试的，可能产生歧义的名字要尽量避免。夏枯草因为是具体草药的名字，可能不在我说的范畴内。而且，如果",[833,1476,1470],{},"计划投足够力量去告诉消费者这是什么，那这个名字也不会有啥大问题。(2022-06-13)",[827,1479,1480],{},[833,1481,1482],{},"名字没取好，事倍功半。(2020-12-16)",[827,1484,1485,1486,1489],{},"网友：为什么别人学不了",[833,1487,1488],{},"茅台","?我认为是别人没有办法用那两个字。",[827,1491,1492,1494,1495,1497,1498,1500,1501,1503],{},[833,1493,860],{}," 可惜这种实验做不了，不然按",[833,1496,1488],{},"现在市值两万亿，如果有人愿意出价一万亿只买",[833,1499,1488],{},"的名字的话，",[833,1502,1488],{},"再换个名字要不了多久就会跟原来一样的。",[827,1505,1506],{},[833,1507,1508,1509,1511],{},"也许做过",[846,1510,141],{"href":848},"的人才更容易理解“牌子”和“名字”是有很大差别的？(2023-12-12)",[822,1513,1515],{"id":1514},"第五节-建立自己的品牌","第五节 建立自己的品牌",[827,1517,1518,1519,1521],{},"网友：从段总20年前就不做OEM，建立自己的",[846,1520,141],{"href":848},"，现在我越来越深信，功夫熊猫里的一句经典台词“There is no accident世上无偶然”。这还是跟段总偷学过来的。",[827,1523,1524,1526],{},[833,1525,860],{}," 我们其实从来就没做过OEM，但20年前确定了不做，所以谈都不谈了，省了很多时间。（2016-10-25）",[827,1528,1529],{},"网友：在中国民营企业发展的初期，可能几乎没什么人想得到不做国际大公司的代工，就像这里说到的没有人拒绝他们的订单。几年前当我意识到步步高是从开始就选择了不代工这条路的时候觉得非常惊讶，因为这个觉知实在是太早了，觉得怎么可能知道。",[827,1531,1532],{},"这时候实际上很多的工厂还是成熟的老牌港台企业不仅仅是民企，步步高在起步的时候就已经在有些方面超过他们了，这是让人觉得很佩服的地方，这只有文化非常好的企业才可能想得到、做得到，也是我早就看好段总的主要原因之一。",[827,1534,1535,1537],{},[833,1536,860],{}," 如果你想的是10年20年后的事情，这个决定其实非常简单且容易。凡事能往前（后）想几年，往往难度会大幅度下来。（2016-10-18）",[827,1539,1540],{},"乐百氏，王老吉当年都是租来的牌子，最后也都遇到了很大的麻烦。很少人知道当年我们也租过牌子。我们最早开始做游戏机时，曾经用过中国台湾的一个牌子，叫“创造者”。由于我们质量好，这个牌子一开始就还不错，但当时中国的台商（以及代理的中国港商）比较短视，居然开始将同一牌子的产品的包装盒偷偷卖给其他人（仅仅是个包装盒啊，当时一块多人民币一个，大概是1990年？）。",[827,1542,1543],{},"我当时想，长此以往怎么可以？于是就有了“小霸王”。（2016-11-18）",[827,1545,1546],{},"网友：想请教下各位：如何做品牌？我们公司之前是一个OEM（代工）性质的代工厂，现在希望能做自己的品牌，但不知需要注意哪些？",[827,1548,1549,1551],{},[833,1550,860],{}," 呵呵，这是典型的我们不知道我们不知道什么啊。你要想知道需要什么首先你要知道你有什么。建议你想想那些有名的牌子都有啥，对比一下自己都有啥，也许你就知道自己需要啥啥啥了。（2011-02-15）",[827,1553,1554],{},"网友：我所在的地方是一个皮具箱包产业区，有着非常完善的产业链，但我观察这个行业大部分都是靠模仿外国的品牌，我想请教一下以您在实业电子消费品领域创立小霸王，步步高，oppo，vivo这么多品牌的经验角度讲下您觉得目前在中国是否具备创立一个著名的本土皮具箱包品牌的条件？创立这样的一个品牌需要具备哪些条件？",[827,1556,1557,1559],{},[833,1558,1197],{}," ：要建立品牌一定要想得很长远很长远。简单但绝非容易。（2019-09-21）",[827,1561,1562],{},"网友：这2年承包了别人的品牌，做的电子商务，在天猫里卖，但是当时我们签约只签约了3年，明年就是第三年了，品牌可能会面临收回的危机，而我们自己做的是贸易也没有实体生产，自己的品牌已经去注册了，我自从做这个生意以来一直觉得很被动，感觉自己没有主控权，很想跳出这个阶段。",[827,1564,1565,1567],{},[833,1566,860],{}," 一个品牌签约只签三年的人，就不要说很想跳出这个阶段了吧？不过，亡羊补牢总是来得及的。（2014-02-27）",[827,1569,1570],{},"网友：段大哥说的甚是，当时提出签10年，但他不愿意说3年后在签，这个是我犯下的好大个错误，在我17岁的时候就经常看段大哥的视频，还有段大哥去波士堂的节目，一直在向您学习，签约时我22岁，今年24了。这也是我第一次动用家里的资金去做这个生意。",[827,1572,1573,1575],{},[833,1574,860],{}," 你这个年纪，不需要解释什么，而且亡羊补牢的效果会非常好。（2014-03-02）",[827,1577,1578],{},"网友：对于步步高这个品牌有没有相关规划？因为目前步步高公司下有两个品牌，一个OPPO，一个步步高，而步步高下又有4个子产品线，同时这4个产品线的运作是独立，那目前公司是如何规划让步步高的品牌价值最大化？同时如果步步高到了走向全球市场的时候，那步步高下面的4个产品线又如何协调规划？",[827,1580,1581,1583],{},[833,1582,860],{}," 不知道你讲的是哪4个产品线。我们产品线老多了。",[827,1585,1586],{},"我们公司经营电子消费品的有3个公司：",[827,1588,1589],{},"电子教育公司的主力产品是学习机、点读机、复读机、词典等等；",[827,1591,1592],{},"通讯公司以电话机起家，现在手机也做得非常不错；",[827,1594,1595],{},"有声光盘从VCD起家，现在刚刚进入“生活电器”；",[827,1597,1598],{},"OPPO实际上是个全球品牌，现在大家比较知道的大概就是手机和MP3\u002F4了，在美国有点影响的是OPPO的蓝光DVD。OPPO的东西可能是迄今为止在欧美电子类里美誉度最好的品牌之一了（知名度还远远不够），咱中国产品这好像还是第一回吧？不服的请上网查查，都是英文的。",[827,1600,1601],{},"我们没有品牌价值最大化的任何计划，我甚至不懂什么叫品牌价值最大化。我们最关注的是我们用户的体验和如何改进的方法，我们追求的是如何能提供消费者有用且喜欢的东西。如果我们能一直坚持这样做的话，20-30年内说不定的我们也能出个像iphone或者wii一样的产品啊。（2010-03-22）",[827,1603,1604],{},"网友：听说OPPO诞生经历了5年酝酿期。",[827,1606,1607,1609,1610,1613,1614,1616,1617,1619],{},[833,1608,860],{}," OPPO定位为全球性品牌，设计工作由荷兰公司完成，希望能够更加欧化，借以与",[833,1611,1612],{},"步步高","区分。OPPO在美国仅卖高端DVD，销售通过网络完成，在中国则主要卖MP3，",[846,1615,161],{"href":1432},"与",[833,1618,1612],{},"有很多重叠。我们计划用5年-10年树立这个新品牌，“我们做什么事情都是慢慢来”。",[827,1621,1622],{},[833,1623,1624],{},"引用：财经会客厅视频（2010-03-22）",[827,1626,1627,1628,1630,1631,1633],{},"主持人：",[833,1629,1612],{},"也推出了OPPO这个独立的品牌。这么多大的动作是不是意味着",[833,1632,1612],{},"是准备再进行一次大的战略转型呢？",[827,1635,1636,1638,1639,1641],{},[833,1637,860],{}," 它是两个不同的部门做的东西了。那么其实OPPO这个牌子我们推出来的时间远远超过大家的想象。我们设计这个品牌，那是2000年就开始了，2000年开始设计，那设计的主要的动因是我们考虑得比较长远了，就说当我们要走向全球的时候，我们不可能用",[833,1640,1612],{},"这个牌子去走，那么一定要有个国际品牌，所以我们设计其实就不是中国人设计的。",[827,1643,1644],{},"所以我们自己要设一个中英文品牌的话，肯定会很怪异，自己觉得挺好，老美还读不出来，或者说这个说不顺口，或者说不舒服，所以我们请的都是像这个OPPO是请的是欧洲人设计的。那么而且是全球一个一个国家都做过语音测试，包括网站，包括所有的这个花了很长的时间，也花了很多钱。那么等到搞好了，大概也都花了有一两年两三年的时间了，然后在开始做产品合适的产品。（2010-03-22）",[827,1646,1647],{},"网友：电视上面看到的步步高的广告好多呀，音乐手机，点读机，豆浆机，三种不一样领域的产品，消费群不一样，有点感觉相互不照应。oppo也有手机，MP3\u002FMP4广告；但感觉这些产品的消费群体很相似，广告投入是有照应的。从对外形象和品牌感知，OPPO 的确比较厉害。",[827,1649,1650,1652],{},[833,1651,860],{}," 这个问题我们会慢慢解决的。貌似已经找到办法了，还需要点时间实施和验证。我们准备逐步退出小家电行业的最重要原因就是因为这个产品会影响我们整个品牌的印象。电教产品也会有些办法。估计3年左右人们就不会再有那种相互不照应的感觉了。（2011-03-01）",[827,1654,1655,1656,1658],{},"网友：建酒店是集团公司的事情，跟上市公司无关。至于多个子",[846,1657,141],{"href":848},"，也有很多是集团公司的。",[827,1660,1661,1663,1664,1666],{},[833,1662,860],{}," 哦，是集团的，那会有点不同。不过集团搞多个子",[846,1665,141],{"href":848},"也不是很明智。(2013-02-24)",[827,1668,1669,1670,1672],{},"网友：同一家公司在同类产品中实施多",[846,1671,141],{"href":848},"策略有哪些好处？这种策略容易成功吗？",[827,1674,1675,1677],{},[833,1676,860],{}," 大部分产品这么做是非常愚蠢的。早年看过宝洁这么做，所以老是觉得他们的产品多少有点蒙人的味道，将来有一天会有麻烦的。(2017-08-18)",[827,1679,1680],{},"网友：是违背焦点法则的原因吗？段总能不能再多说几句，我们厂就有这个问题。",[827,1682,1683,1685,1686,1688,1689,1693],{},[833,1684,860],{}," 同样的东西分成多个",[846,1687,141],{"href":848},"卖显然属于生意导向而不是",[846,1690,1692],{"href":1691},"\u002Fxiaofeizhedaoxiang","用户导向","。（2017-08-20）",[827,1695,1696,1697,1699,1700,1702],{},"网友：我认为",[833,1698,1488],{},"拓展多个子",[846,1701,141],{"href":848},"和建五星酒店不妥。",[827,1704,1705,915,1707],{},[833,1706,860],{},[833,1708,1709,1710,1712],{},"建酒店显得有点愚蠢，希望不会继续。多个",[846,1711,141],{"href":848},"看起来也不太明智，但不了解具体情况。",[827,1714,1715,1716,1097],{},"网友：如何把商标打造成",[846,1717,141],{"href":848},[827,1719,1720,1722],{},[833,1721,860],{}," 需要好的产品以及很长的时间。(2019-10-19)",[822,1724,1726],{"id":1725},"第六节-什么生意做不出品牌","第六节 什么生意做不出品牌",[827,1728,1729,1730,1732,1733,1736],{},"网友：几年前张裕还在被不少投资者看好，接下来面对的是大幅的下滑，是没看到来自西方的冲击，即使有些投资者自己也是喝红酒的人（其中有爱周游世界的西方人），段总投资",[833,1731,1488],{},"就没有碰到这样的滑铁卢。张裕的现象让我有些困惑，也不知道错投的投资者这其中有多少像是",[833,1734,1735],{},"芒格","说的误判心理，有多少是不够了解市场和产品的整体情况，个人觉得红酒会受到冲击不是非常难看出来。",[827,1738,1739,1741,1742,1744],{},[833,1740,860],{}," 红酒是个特别个性化的产品，世界上大概有10万个红酒",[846,1743,141],{"href":848},"（如果不是更多的话）。红酒受原材料的影响是无法保持产品的高度一致性的，所以无法大量生产。能大量生产的酒也许就不该叫红酒。（2017-08-20）",[827,1746,1747,1748,1750,1751,1753],{},"网友：95后深漂，从事跨境物流销售。看了大道关于物流行业的一些看法，",[846,1749,146],{"href":986},"很小，是个比较辛苦的生意。大道怎么看待物流公司做",[846,1752,141],{"href":848},"？",[827,1755,1756,1757,1759],{},"大道：没有",[846,1758,141],{"href":848},"的物流很可能连苦生意也做不了啊。（2026-08-08）",{"title":1761,"searchDepth":21,"depth":21,"links":1762},"",[1763,1764,1765,1766,1767,1768],{"id":824,"depth":21,"text":825},{"id":943,"depth":21,"text":944},{"id":1133,"depth":21,"text":1134},{"id":1188,"depth":21,"text":1189},{"id":1514,"depth":21,"text":1515},{"id":1725,"depth":21,"text":1726},"寻长坡以滚雪球","md",{},true,"\u002Fdao\u002Fqanda\u002Fwenda-business-06",{"title":484,"description":486},"段永平问答：品牌的本质｜段永平投资问答录","本章按主题重排已收集的公开问答，保留正文中的提问者、引文署名与发言日期；尚未逐条核对原始发布链接。本站编辑日期不代表原始发言日期。","unverified",[],"dao\u002Fqanda\u002Fwenda-business-06",[1781,141,1782],"商业经营","产品","2026-10-10","5pD5HJqwE7E9kdt9OfTq5bC8uPAQGvFz0EvK-AYuoE0","dao",[1787,1788,1789,1790,1791,1792,1793,1794,1795,1796,1797,1798,1799,1800,1801,1802,1803,1804,1805,1806,1807,1808,1809,1810,1811,1812,1813,1814,1815,1816,1817,1818,1819,1820,1821,1822,1823,1824,1825,1826,1827,1828,1829,1830,1831,1832,1833],{"title":431,"slug":432,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":16,"order":434},{"title":438,"slug":439,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":21,"order":441},{"title":443,"slug":444,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":26,"order":446},{"title":448,"slug":449,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":31,"order":451},{"title":453,"slug":454,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":36,"order":456},{"title":458,"slug":459,"type":435,"volume":436,"volumeOrder":16,"chapterOrder":41,"order":461},{"title":463,"slug":464,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":16,"order":466},{"title":469,"slug":470,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":21,"order":472},{"title":474,"slug":475,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":26,"order":477},{"title":479,"slug":480,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":31,"order":482},{"title":484,"slug":485,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":36,"order":487},{"title":135,"slug":489,"type":435,"volume":467,"volumeOrder":21,"chapterOrder":41,"order":491},{"title":493,"slug":494,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":16,"order":496},{"title":499,"slug":500,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":21,"order":502},{"title":504,"slug":505,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":26,"order":507},{"title":509,"slug":510,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":31,"order":512},{"title":514,"slug":515,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":36,"order":517},{"title":519,"slug":520,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":41,"order":522},{"title":524,"slug":525,"type":435,"volume":497,"volumeOrder":26,"chapterOrder":51,"order":527},{"title":529,"slug":530,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":16,"order":532},{"title":535,"slug":536,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":21,"order":538},{"title":540,"slug":541,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":26,"order":543},{"title":545,"slug":546,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":31,"order":548},{"title":550,"slug":551,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":36,"order":553},{"title":555,"slug":556,"type":435,"volume":533,"volumeOrder":31,"chapterOrder":41,"order":558},{"title":560,"slug":561,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":16,"order":563},{"title":566,"slug":567,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":21,"order":569},{"title":571,"slug":572,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":26,"order":574},{"title":576,"slug":577,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":31,"order":579},{"title":581,"slug":582,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":36,"order":584},{"title":586,"slug":587,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":41,"order":589},{"title":591,"slug":592,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":51,"order":594},{"title":596,"slug":597,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":56,"order":599},{"title":601,"slug":602,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":62,"order":604},{"title":606,"slug":607,"type":435,"volume":564,"volumeOrder":36,"chapterOrder":68,"order":609},{"title":611,"slug":612,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":16,"order":614},{"title":617,"slug":618,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":21,"order":620},{"title":622,"slug":623,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":26,"order":625},{"title":627,"slug":628,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":31,"order":630},{"title":632,"slug":633,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":36,"order":635},{"title":637,"slug":638,"type":435,"volume":615,"volumeOrder":41,"chapterOrder":41,"order":640},{"title":642,"slug":643,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":16,"order":645},{"title":648,"slug":649,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":21,"order":651},{"title":653,"slug":654,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":26,"order":656},{"title":658,"slug":659,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":31,"order":661},{"title":663,"slug":664,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":36,"order":666},{"title":668,"slug":669,"type":435,"volume":646,"volumeOrder":51,"chapterOrder":41,"order":671},[1835,1836,1837,1838,1839,1840,1841,1842,1843,1844,1845,1846,1847,1848,1849,1850,1851,1852,1853,1854,1855,1856,1857,1858,1859,1860,1861,1862,1863,1864,1865,1866,1867,1868,1869,1870,1871,1872,1873,1874,1875,1876,1877,1878,1879,1880,1881,1882,1883,1884,1885,1886,1887,1888,1889,1890,1891,1892,1893,1894,1895,1896,1897,1898,1899,1900,1901,1902,1903,1904,1905,1906,1907,1908,1909,1910,1911,1912,1913,1914,1915,1916,1917,1918,1925,1929,1933,1936,1941,1946,1949,1953,1956,1958,1961,1963,1966,1970,1975,1980,1985,1988,1992,1996,1998,2002,2005,2009,2014,2020,2023,2027,2029,2032,2036,2038,2041,2045,2050,2053,2057,2062,2066,2073,2077,2085,2087,2089,2094,2099,2106,2112,2113,2118,2120,2124,2128,2133,2135,2137,2143,2146,2148,2153,2156,2161,2165,2168,2172,2174,2176,2179,2183,2185,2188,2192,2194,2197,2200],{"title":5,"slug":6,"category":8,"tags":9,"type":10,"volume":9,"order":9},{"title":12,"slug":13,"category":15,"tags":9,"type":9,"volume":9,"order":16},{"title":18,"slug":19,"category":15,"tags":9,"type":9,"volume":9,"order":21},{"title":23,"slug":24,"category":15,"tags":9,"type":9,"volume":9,"order":26},{"title":28,"slug":29,"category":15,"tags":9,"type":9,"volume":9,"order":31},{"title":33,"slug":34,"category":15,"tags":9,"type":9,"volume":9,"order":36},{"title":38,"slug":39,"category":15,"tags":9,"type":9,"volume":9,"order":41},{"title":43,"slug":44,"category":15,"tags":9,"type":9,"volume":9,"order":46},{"title":48,"slug":49,"category":15,"tags":9,"type":9,"volume":9,"order":51},{"title":53,"slug":54,"category":15,"tags":9,"type":9,"volume":9,"order":56},{"title":58,"slug":59,"category":61,"tags":9,"type":9,"volume":9,"order":62},{"title":64,"slug":65,"category":67,"tags":9,"type":9,"volume":9,"order":68},{"title":70,"slug":71,"category":61,"tags":9,"type":9,"volume":9,"order":68},{"title":74,"slug":75,"category":61,"tags":9,"type":9,"volume":9,"order":77},{"title":79,"slug":80,"category":67,"tags":9,"type":9,"volume":9,"order":77},{"title":83,"slug":84,"category":67,"tags":9,"type":9,"volume":9,"order":86},{"title":88,"slug":89,"category":67,"tags":9,"type":9,"volume":9,"order":86},{"title":92,"slug":93,"category":67,"tags":9,"type":9,"volume":9,"order":95},{"title":97,"slug":98,"category":61,"tags":9,"type":9,"volume":9,"order":95},{"title":101,"slug":102,"category":61,"tags":9,"type":9,"volume":9,"order":104},{"title":106,"slug":107,"category":67,"tags":9,"type":9,"volume":9,"order":104},{"title":110,"slug":111,"category":61,"tags":9,"type":9,"volume":9,"order":113},{"title":115,"slug":116,"category":61,"tags":9,"type":9,"volume":9,"order":118},{"title":120,"slug":121,"category":61,"tags":9,"type":9,"volume":9,"order":123},{"title":125,"slug":126,"category":61,"tags":9,"type":9,"volume":9,"order":128},{"title":130,"slug":131,"category":61,"tags":9,"type":9,"volume":9,"order":133},{"title":135,"slug":136,"category":138,"tags":9,"type":9,"volume":9,"order":139},{"title":141,"slug":142,"category":138,"tags":9,"type":9,"volume":9,"order":144},{"title":146,"slug":147,"category":138,"tags":9,"type":9,"volume":9,"order":149},{"title":151,"slug":152,"category":138,"tags":9,"type":9,"volume":9,"order":154},{"title":156,"slug":157,"category":138,"tags":9,"type":9,"volume":9,"order":159},{"title":161,"slug":162,"category":138,"tags":9,"type":9,"volume":9,"order":164},{"title":166,"slug":167,"category":138,"tags":9,"type":9,"volume":9,"order":169},{"title":171,"slug":172,"category":138,"tags":9,"type":9,"volume":9,"order":174},{"title":176,"slug":177,"category":138,"tags":9,"type":9,"volume":9,"order":179},{"title":181,"slug":182,"category":138,"tags":9,"type":9,"volume":9,"order":184},{"title":186,"slug":187,"category":138,"tags":9,"type":9,"volume":9,"order":189},{"title":191,"slug":192,"category":194,"tags":9,"type":9,"volume":9,"order":195},{"title":197,"slug":198,"category":194,"tags":9,"type":9,"volume":9,"order":200},{"title":202,"slug":203,"category":194,"tags":9,"type":9,"volume":9,"order":205},{"title":207,"slug":208,"category":194,"tags":9,"type":9,"volume":9,"order":210},{"title":212,"slug":213,"category":194,"tags":9,"type":9,"volume":9,"order":215},{"title":217,"slug":218,"category":194,"tags":9,"type":9,"volume":9,"order":220},{"title":222,"slug":223,"category":194,"tags":9,"type":9,"volume":9,"order":225},{"title":227,"slug":228,"category":194,"tags":9,"type":9,"volume":9,"order":230},{"title":232,"slug":233,"category":235,"tags":9,"type":9,"volume":9,"order":236},{"title":238,"slug":239,"category":241,"tags":9,"type":9,"volume":9,"order":242},{"title":244,"slug":245,"category":241,"tags":9,"type":9,"volume":9,"order":247},{"title":249,"slug":250,"category":241,"tags":9,"type":9,"volume":9,"order":252},{"title":254,"slug":255,"category":241,"tags":9,"type":9,"volume":9,"order":257},{"title":259,"slug":260,"category":241,"tags":9,"type":9,"volume":9,"order":262},{"title":264,"slug":265,"category":241,"tags":9,"type":9,"volume":9,"order":267},{"title":269,"slug":270,"category":241,"tags":9,"type":9,"volume":9,"order":272},{"title":274,"slug":275,"category":241,"tags":9,"type":9,"volume":9,"order":277},{"title":279,"slug":280,"category":241,"tags":9,"type":9,"volume":9,"order":282},{"title":284,"slug":285,"category":241,"tags":9,"type":9,"volume":9,"order":287},{"title":289,"slug":290,"category":241,"tags":9,"type":9,"volume":9,"order":292},{"title":294,"slug":295,"category":241,"tags":9,"type":9,"volume":9,"order":297},{"title":299,"slug":300,"category":241,"tags":9,"type":9,"volume":9,"order":302},{"title":304,"slug":305,"category":241,"tags":9,"type":9,"volume":9,"order":307},{"title":309,"slug":310,"category":241,"tags":9,"type":9,"volume":9,"order":312},{"title":314,"slug":315,"category":241,"tags":9,"type":9,"volume":9,"order":317},{"title":319,"slug":320,"category":241,"tags":9,"type":9,"volume":9,"order":322},{"title":324,"slug":325,"category":241,"tags":9,"type":9,"volume":9,"order":327},{"title":329,"slug":330,"category":241,"tags":9,"type":9,"volume":9,"order":332},{"title":334,"slug":335,"category":241,"tags":9,"type":9,"volume":9,"order":337},{"title":339,"slug":340,"category":241,"tags":9,"type":9,"volume":9,"order":342},{"title":344,"slug":345,"category":241,"tags":9,"type":9,"volume":9,"order":347},{"title":349,"slug":350,"category":241,"tags":9,"type":9,"volume":9,"order":352},{"title":354,"slug":355,"category":241,"tags":9,"type":9,"volume":9,"order":357},{"title":359,"slug":360,"category":241,"tags":9,"type":9,"volume":9,"order":362},{"title":364,"slug":365,"category":241,"tags":9,"type":9,"volume":9,"order":367},{"title":369,"slug":370,"category":241,"tags":9,"type":9,"volume":9,"order":372},{"title":374,"slug":375,"category":241,"tags":9,"type":9,"volume":9,"order":377},{"title":379,"slug":380,"category":241,"tags":9,"type":9,"volume":9,"order":382},{"title":384,"slug":385,"category":241,"tags":9,"type":9,"volume":9,"order":387},{"title":389,"slug":390,"category":241,"tags":9,"type":9,"volume":9,"order":392},{"title":394,"slug":395,"category":241,"tags":9,"type":9,"volume":9,"order":397},{"title":399,"slug":400,"category":241,"tags":9,"type":9,"volume":9,"order":402},{"title":404,"slug":405,"category":241,"tags":9,"type":9,"volume":9,"order":407},{"title":409,"slug":410,"category":241,"tags":9,"type":9,"volume":9,"order":412},{"title":414,"slug":415,"category":241,"tags":9,"type":9,"volume":9,"order":417},{"title":419,"slug":420,"category":241,"tags":9,"type":9,"volume":9,"order":422},{"title":424,"slug":425,"category":427,"tags":1919,"type":429,"volume":9,"order":428},[427,1920,1921,1922,1923,1924,646],"主题目录","投资认知","企业判断","财报估值","公司案例",{"title":431,"slug":432,"category":427,"tags":1926,"type":435,"volume":436,"order":434},[1927,1928,58],"投资原则","买股票就是买公司",{"title":438,"slug":439,"category":427,"tags":1930,"type":435,"volume":436,"order":441},[1927,1931,1932],"投资理解","投资者",{"title":443,"slug":444,"category":427,"tags":1934,"type":435,"volume":436,"order":446},[1927,33,1935],"看懂生意",{"title":448,"slug":449,"category":427,"tags":1937,"type":435,"volume":436,"order":451},[1927,1938,1939,1940],"风险控制","不做空","不加杠杆",{"title":453,"slug":454,"category":427,"tags":1942,"type":435,"volume":436,"order":456},[1927,1943,1944,1945],"宏观经济","市场波动","牛熊市",{"title":458,"slug":459,"category":427,"tags":1947,"type":435,"volume":436,"order":461},[1927,18,222,1948],"学习方法",{"title":463,"slug":464,"category":427,"tags":1950,"type":435,"volume":467,"order":466},[1781,1951,1952],"伟大企业","长坡厚雪",{"title":469,"slug":470,"category":427,"tags":1954,"type":435,"volume":467,"order":472},[1781,70,1955],"投资确定性",{"title":474,"slug":475,"category":427,"tags":1957,"type":435,"volume":467,"order":477},[1781,74,146],{"title":479,"slug":480,"category":427,"tags":1959,"type":435,"volume":467,"order":482},[1781,1960,1692,53],"好产品",{"title":484,"slug":485,"category":427,"tags":1962,"type":435,"volume":467,"order":487},[1781,141,1782],{"title":135,"slug":489,"category":427,"tags":1964,"type":435,"volume":467,"order":491},[1781,135,1965],"基业长青",{"title":493,"slug":494,"category":427,"tags":1967,"type":435,"volume":497,"order":496},[1927,1968,88,1969],"财务报表","ROE",{"title":499,"slug":500,"category":427,"tags":1971,"type":435,"volume":497,"order":502},[1927,1972,1973,1974],"定性判断","现金流折现","估值",{"title":504,"slug":505,"category":427,"tags":1976,"type":435,"volume":497,"order":507},[1927,1977,115,1978,1979],"折现率","市盈率","估值案例",{"title":509,"slug":510,"category":427,"tags":1981,"type":435,"volume":497,"order":512},[1927,1982,1983,1984],"分红","回购","资本配置",{"title":514,"slug":515,"category":427,"tags":1986,"type":435,"volume":497,"order":517},[1927,120,1987,115],"集中投资",{"title":519,"slug":520,"category":427,"tags":1989,"type":435,"volume":497,"order":522},[1927,1990,1991,1974],"买卖时机","持有",{"title":524,"slug":525,"category":427,"tags":1993,"type":435,"volume":497,"order":527},[1927,125,1994,1995],"套利","量化交易",{"title":529,"slug":530,"category":427,"tags":1997,"type":435,"volume":533,"order":532},[1781,12,18,186],{"title":535,"slug":536,"category":427,"tags":1999,"type":435,"volume":533,"order":538},[1781,2000,2001,227],"Stop Doing List","聚焦",{"title":540,"slug":541,"category":427,"tags":2003,"type":435,"volume":533,"order":543},[1781,2004,48],"创新",{"title":545,"slug":546,"category":427,"tags":2006,"type":435,"volume":533,"order":548},[1781,2007,2008,161],"营销","广告",{"title":550,"slug":551,"category":427,"tags":2010,"type":435,"volume":533,"order":553},[1781,2011,2012,2013],"管理层","团队","激励",{"title":555,"slug":556,"category":427,"tags":2015,"type":435,"volume":533,"order":558},[1781,2016,2017,2018,2019],"收购","并购","多元化","多品牌",{"title":560,"slug":561,"category":427,"tags":2021,"type":435,"volume":564,"order":563},[1924,2022,1782,171],"苹果",{"title":566,"slug":567,"category":427,"tags":2024,"type":435,"volume":564,"order":569},[1924,2022,2025,2026],"乔布斯","库克",{"title":571,"slug":572,"category":427,"tags":2028,"type":435,"volume":564,"order":574},[1924,2022,1974,1984],{"title":576,"slug":577,"category":427,"tags":2030,"type":435,"volume":564,"order":579},[1924,2031,141,70],"贵州茅台",{"title":581,"slug":582,"category":427,"tags":2033,"type":435,"volume":564,"order":584},[1924,2031,2034,2035],"公司治理","i茅台",{"title":586,"slug":587,"category":427,"tags":2037,"type":435,"volume":564,"order":589},[1924,2031,1974,120],{"title":591,"slug":592,"category":427,"tags":2039,"type":435,"volume":564,"order":594},[1924,2040,1612],"小霸王",{"title":596,"slug":597,"category":427,"tags":2042,"type":435,"volume":564,"order":599},[1924,596,2043,2044],"丁磊","游戏",{"title":601,"slug":602,"category":427,"tags":2046,"type":435,"volume":564,"order":604},[1924,2047,2048,2049],"阿里巴巴","雅虎","马云",{"title":606,"slug":607,"category":427,"tags":2051,"type":435,"volume":564,"order":609},[1924,606,2052],"情绪价值",{"title":611,"slug":612,"category":427,"tags":2054,"type":435,"volume":615,"order":614},[1924,2055,2056],"消费电子","日本制造",{"title":617,"slug":618,"category":427,"tags":2058,"type":435,"volume":615,"order":620},[1924,2059,2060,2061],"游戏行业","游戏公司","中国游戏",{"title":622,"slug":623,"category":427,"tags":2063,"type":435,"volume":615,"order":625},[1924,2064,2065],"互联网平台","科技产业",{"title":627,"slug":628,"category":427,"tags":2067,"type":435,"volume":615,"order":630},[1924,2068,2069,2070,2071,2072],"零售","电商","服务业","教育培训","航空",{"title":632,"slug":633,"category":427,"tags":2074,"type":435,"volume":615,"order":635},[1924,2075,2076],"能源","工业企业",{"title":637,"slug":638,"category":427,"tags":2078,"type":435,"volume":615,"order":640},[1924,2079,2080,2081,2082,2083,2084],"格力","美的","比亚迪","万科","招商银行","瑞贝卡",{"title":642,"slug":643,"category":427,"tags":2086,"type":435,"volume":646,"order":645},[646,23,28],{"title":648,"slug":649,"category":427,"tags":2088,"type":435,"volume":646,"order":651},[646,217,222,227],{"title":653,"slug":654,"category":427,"tags":2090,"type":435,"volume":646,"order":656},[646,2091,2092,2093],"职业","创业","享受过程",{"title":658,"slug":659,"category":427,"tags":2095,"type":435,"volume":646,"order":661},[646,2096,2097,2098],"家庭","孩子","教育",{"title":663,"slug":664,"category":427,"tags":2100,"type":435,"volume":646,"order":666},[646,2101,2102,2103,2104,2105],"开放心态","阅读","AI","公益","社会责任",{"title":668,"slug":669,"category":427,"tags":2107,"type":435,"volume":646,"order":671},[646,2108,2109,2110,2111],"健康","睡眠","Zone 2","高尔夫",{"title":673,"slug":674,"category":676,"tags":9,"type":9,"volume":9,"order":677},{"title":676,"slug":679,"category":676,"tags":2114,"type":682,"volume":9,"order":681},[2115,2116,1197,2117],"公司","人物","投资案例",{"title":684,"slug":685,"category":676,"tags":2119,"type":688,"volume":9,"order":687},[2022,70,135,156,2026,2025],{"title":690,"slug":691,"category":676,"tags":2121,"type":694,"volume":9,"order":693},[2122,2123,12,135,23],"黄峥","拼多多",{"title":696,"slug":697,"category":676,"tags":2125,"type":688,"volume":9,"order":699},[606,2126,151,2052,2127,141,74],"王宁","IP",{"title":701,"slug":702,"category":676,"tags":2129,"type":694,"volume":9,"order":704},[2126,606,2130,2131,23,2132],"创始人","CEO","商业理解",{"title":706,"slug":707,"category":676,"tags":2134,"type":688,"volume":9,"order":709},[2031,141,88,33,120],{"title":711,"slug":712,"category":676,"tags":2136,"type":688,"volume":9,"order":714},[596,2043,2044,88,120],{"title":716,"slug":717,"category":676,"tags":2138,"type":688,"volume":9,"order":719},[2139,2140,2141,2142,70],"腾讯","马化腾","微信","微信支付",{"title":721,"slug":722,"category":676,"tags":2144,"type":688,"volume":9,"order":724},[2047,2049,135,70,2145],"保留",{"title":726,"slug":727,"category":676,"tags":2147,"type":688,"volume":9,"order":729},[2123,2122,12,161,70],{"title":731,"slug":732,"category":676,"tags":2149,"type":688,"volume":9,"order":734},[2150,2151,2152,2103,74,33],"英伟达","黄仁勋","CUDA",{"title":736,"slug":737,"category":676,"tags":2154,"type":688,"volume":9,"order":739},[2155,2044,161,176,33],"任天堂",{"title":741,"slug":742,"category":676,"tags":2157,"type":688,"volume":9,"order":744},[2158,2159,135,2018,33,2160],"GE","通用电气","反思",{"title":746,"slug":747,"category":676,"tags":2162,"type":688,"volume":9,"order":749},[2163,2164,2098,70,2145],"新东方","俞敏洪",{"title":751,"slug":752,"category":676,"tags":2166,"type":694,"volume":9,"order":754},[2167,58,1928,18,227],"巴菲特",{"title":756,"slug":757,"category":676,"tags":2169,"type":694,"volume":9,"order":759},[1735,222,2170,33,2171],"逆向思维","Costco",{"title":761,"slug":762,"category":676,"tags":2173,"type":694,"volume":9,"order":764},[2025,2022,181,186,135],{"title":766,"slug":767,"category":676,"tags":2175,"type":694,"volume":9,"order":769},[2026,2022,2131,222,135],{"title":771,"slug":772,"category":676,"tags":2177,"type":694,"volume":9,"order":774},[2049,2047,135,18,2178],"理想主义",{"title":776,"slug":777,"category":676,"tags":2180,"type":694,"volume":9,"order":779},[2043,596,2044,2181,2182],"现金","企业家",{"title":781,"slug":782,"category":676,"tags":2184,"type":694,"volume":9,"order":784},[2140,2139,2141,2142,70],{"title":786,"slug":787,"category":676,"tags":2186,"type":694,"volume":9,"order":789},[2164,2163,2098,2187,2182],"韧性",{"title":791,"slug":792,"category":676,"tags":2189,"type":694,"volume":9,"order":794},[2190,2031,181,2191,141],"季克良","质量文化",{"title":796,"slug":797,"category":676,"tags":2193,"type":694,"volume":9,"order":799},[2151,2150,2103,2152,2182],{"title":801,"slug":802,"category":676,"tags":2195,"type":805,"volume":9,"order":804},[2196,1197,70,135,2117],"公司清单",{"title":807,"slug":808,"category":676,"tags":2198,"type":805,"volume":9,"order":810},[2199,1197,2182,58,2130],"人物清单",{"title":812,"slug":813,"category":676,"tags":2201,"type":805,"volume":9,"order":815},[2202,1197,33,70,2117],"重估案例",1791623726184]