[{"data":1,"prerenderedAt":2556},["ShallowReactive",2],{"layout-dao":3,"dao-wenda-business-07":816,"qanda-chapter-navigation":2140,"dao-related-topics":2188},[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":545,"body":818,"category":427,"chapterOrder":31,"date":9,"description":547,"editor":2122,"extension":2123,"meta":2124,"navigation":2125,"order":548,"path":2126,"publishedAt":9,"seo":2127,"seoDescription":547,"seoTitle":2128,"slug":546,"source":9,"sourceAuthor":1462,"sourceDate":9,"sourceNote":2129,"sourceStatus":2130,"sourceUrl":9,"sources":2131,"stem":2132,"summary":547,"tags":2133,"type":435,"updatedAt":2137,"volume":533,"volumeOrder":31,"__hash__":2138,"_collection":2139},"dao\u002Fdao\u002Fqanda\u002Fwenda-business-07.md",{"type":819,"value":820,"toc":2113},"minimark",[821,826,830,837,840,845,848,853,859,862,868,871,876,884,889,896,901,904,907,913,916,921,924,929,932,937,944,949,952,957,960,963,971,974,979,990,995,998,1011,1016,1021,1026,1033,1037,1040,1045,1048,1051,1056,1059,1064,1069,1072,1077,1080,1085,1088,1093,1096,1101,1104,1109,1112,1117,1120,1125,1128,1133,1136,1141,1144,1149,1152,1157,1162,1167,1174,1182,1188,1198,1207,1210,1219,1223,1228,1231,1234,1239,1242,1247,1250,1255,1258,1263,1266,1271,1274,1279,1282,1287,1290,1295,1298,1305,1308,1313,1316,1321,1324,1329,1332,1337,1340,1345,1348,1353,1356,1361,1364,1369,1372,1377,1380,1385,1388,1393,1396,1401,1404,1409,1412,1417,1420,1423,1426,1431,1434,1437,1442,1446,1449,1455,1458,1468,1471,1476,1479,1486,1489,1498,1501,1506,1509,1512,1517,1520,1525,1528,1533,1536,1541,1544,1549,1552,1561,1564,1569,1572,1577,1580,1585,1588,1591,1596,1606,1618,1621,1626,1632,1635,1640,1649,1654,1658,1661,1667,1672,1675,1680,1683,1688,1691,1696,1699,1704,1707,1710,1715,1718,1723,1726,1731,1734,1739,1742,1747,1750,1755,1762,1770,1773,1779,1782,1787,1790,1795,1798,1803,1806,1811,1814,1819,1825,1836,1842,1859,1871,1881,1890,1898,1901,1904,1911,1914,1917,1925,1928,1933,1936,1941,1944,1949,1952,1957,1963,1968,1971,1976,1979,1982,1987,1990,1995,2002,2005,2010,2013,2016,2021,2024,2031,2034,2037,2041,2044,2049,2052,2057,2062,2065,2070,2077,2080,2085,2093,2101,2107,2110],[822,823,825],"h2",{"id":824},"第一节-营销是什么不是什么","第一节 营销是什么，不是什么",[827,828,829],"p",{},"网友：都说您是营销高手，能否传授下营销方面的知识啊？",[827,831,832,836],{},[833,834,835],"strong",{},"段永平："," 营销很简单，就是把好东西卖出去。长期来讲，不好的东西谁也没办法卖得好。说我是营销高手的说法纯属误传，这世界号称营销高手的多了去了，但我不觉得我是其中之一。顺便说下，我见到的大多数“营销高手”都过于注重营销了。呵呵，我这个“营销高手”快有10年不知道我们公司的营销都在干嘛了，这样的“高手”不多见吧？（2010-03-18）",[827,838,839],{},"网友：在学校读市场营销时，书里都是举出行业竞争激烈，各公司产品高度同质化，提出差异化营销，为产品找卖点。",[827,841,842,844],{},[833,843,835],{}," 营销对公司来讲只能锦上添花，千万别夸大其作用。（2010-04-21）",[827,846,847],{},"网友：销售人员最后成了公司的经营者，而不是产品经理和工程师。想起一些说法：格力电器好是董明珠很会搞销售；步步高好是段总是营销高手，脑白金好是因为史玉柱广告打得好……确实，好产品不是卖出来的，销售做得好的人首先是会选择产品而不是能说会道。",[827,849,850,852],{},[833,851,835],{}," 别人我不知道，但说我是营销高手则绝对是源于误解。我从来没学过怎么营销，我们一直做的所谓营销只不过是想办法如实告诉我们的消费者我们的产品是什么、怎么样之类的信息。千万不要以为会打广告就是营销。会打广告的多了去了，几年一过大多数都不见了，为什么？",[827,854,855,858],{},[833,856,857],{},"所谓营销对于一个公司来说只是一个环节而已，相当于木桶的一块板，凡是认为公司好是因为营销好的说法其实就像认为一个能装水的木桶是因为有了一块叫“营销”的木板一样可笑。"," （2011-10-25）",[827,860,861],{},"网友：企业的运营跟健康蛮像的，段老师也老说健康度。道理是一样的，很多企业营销部门很牛，广告满天飞，但是生产管理很烂，发生癌变了，最后的结果就是健康的发达的部分一定会被癌变的部分拉下来。",[827,863,864,867],{},[833,865,866],{},"段永平：什么企业的营销部门可以很牛？苹果大概也不会吧？好企业的营销部门是不应该很牛的，当然，别的部门也不会。"," （2010-11-28）",[827,869,870],{},"网友：董姐这样说过：“至于营销，我们如果把营销作为仅仅是一个买卖关系，跟消费者只是一个交易的话，我们中国是走不上世界舞台的。格力电器营销这么多年来，坦率地说是没有绝招的，唯一就是两个字——诚信！实际上，我们就是围绕着诚信两个字做营销。营销上不是说你喊你是什么品牌，是因为消费者他是要有一个体验过程，而格力电器是靠着口碑的长期积累至今。”",[827,872,873,875],{},[833,874,835],{}," 非常同意董姐的说法。（2010-09-22）",[827,877,878,879,883],{},"网友：很多人并没有看明白oppo和vivo的成功，以为只是简单的广告＋",[880,881,161],"a",{"href":882},"\u002Fqudao","胜利！要我说，段总如果去当产品经理，照样把这个行业的高手们打趴下99.99%。",[827,885,886,888],{},[833,887,835],{}," 没有人可以把别人打趴下，趴下的都是自己趴下的。（2016-10-12）",[827,890,891,892,895],{},"网友：千万不要认识错，中国很多消费者还不够",[880,893,222],{"href":894},"\u002Flixing","的。",[827,897,898,900],{},[833,899,835],{}," 我还真认为你可能认识错了。",[827,902,903],{},"作为一个群体，消费者绝对是理想（性）的。但这种理性不是每时每刻体现在每一个消费者身上。他的体现会表现为不好的东西最后一定不会卖得好！不过，这并不会让好东西自然变得好卖。好酒也怕巷子深啊。（2010-03-24）",[827,905,906],{},"网友：在中国，买苹果的人，都是把苹果当成一个标配的时尚品罢了。这和当年一部手机上万元，中国却买者甚众，是相同的道理。",[827,908,909,912],{},[833,910,911],{},"段永平：任何产品开始时跟风买的都是大部分，但最初懂的那20~25%的人最关键"," 。（2012-04-26）",[827,914,915],{},"网友：一直想问个问题，对市场调查的看法？我一直不相信市调公司的数据，他们为钱做的数据在我看来一定会有偏差。更相信自己的直觉；国内应该都有这个毛病吧？我不知道是对是错。",[827,917,918,920],{},[833,919,835],{}," 市调公司应该是中立的，是否有偏差取决于水平。你如果把问卷完全交给市调公司设计的话，得出的结论容易出偏差。我的观点是，市调结果是用来验证你的直觉的。如果你的直觉已经很清晰，其实用不着市调。但当你觉得没把握时，市调有时能帮很大忙。（2010-03-23）",[827,922,923],{},"网友：媒体说在手机领域排行榜上，摩托罗拉高居榜首，HTC、索爱和诺基亚分居2至4位，苹果排名第5。在PC领域排行榜上，惠普排名第一，苹果位列亚军，戴尔为第三名。在消费电子领域排行榜，索尼排名第一，三星、松下、LG分别位列2至4名。而苹果并未在该选项中出现，是不是可以理解为苹果的空间还很大？",[827,925,926,928],{},[833,927,835],{}," 大概大部分美国人已经不认为iphone是手机或是调研机构的问卷有问题吧？这种调研和企业的市场调查一样，如果问卷设计得不好，则没办法得到想得到的东西。苹果的营业额应该也超过sony了，但人们也可能不把苹果当消费电子了。不过，苹果在pc里排到第二倒是有点意外，说明这些年mac确实起来了很多。（2011-04-14）",[827,930,931],{},"网友Y：营销嘛，很正常，耍点滑头都是应该的。",[827,933,934,936],{},[833,935,835],{}," 拿这个说事比较无趣吧？有本事和苹果卖一个价试试。耍滑头的结局都会是“杯具”。（2011-12-16）",[827,938,939,940,943],{},"网友：马云思考问题确实独到，也佩服他的成功经历。可一段时间以来阿里巴巴的销售员给我的感觉却不好，强行营销。在我明确表示暂时不需要通过电子商务销售，并",[880,941,197],{"href":942},"\u002Fnaixin","解释原因的情况下，不预约拜访，强行要求会谈，多次骚扰，不胜其烦。有损马云与阿里在我心目中的形象。",[827,945,946,948],{},[833,947,835],{}," 这个确实不好，有待改进。（2011-10-02）",[827,950,951],{},"网友：大道营销绝对是顶级的。",[827,953,954,956],{},[833,955,835],{}," 没有靠营销起来并能持久的公司，能够让公司长久的唯一办法就是能够不断有好产品。(2019-09-17)",[827,958,959],{},"东西好的时候，怎么卖其实没那么重要。东西不好的公司，怎么卖其实最后也没那么重要。(2020-11-13)",[827,961,962],{},"网友：读市场营销时，书里写的是行业竞争激烈，要为产品找卖点。",[827,964,965,967,968],{},[833,966,835],{}," ",[833,969,970],{},"营销对公司来讲只能锦上添花，千万别夸大其作用。(2010-04-23)",[827,972,973],{},"网友：你的第一桶金是不是敢在销售方面打广告，主要会营销，所以赚得盆满钵满？",[827,975,976,978],{},[833,977,835],{}," 嗯，当年很多人也是这么认为的，最后他们基本都完了。(2022-01-23)",[827,980,981,982,985,986,989],{},"网友：想起来第一次见到这类观点是在吴晓波的《激荡三十年》，现在对",[833,983,984],{},"OPPO","和",[833,987,988],{},"vivo","很多人也是这么看的，不过在这两者身上显然不对。书里面写的企业都死得差不多了。",[827,991,992,994],{},[833,993,835],{}," 是的，那些人当年真的那么认为的，于是真的那么做了，然后很快就都不见了。其实我该说的都说过了，30多年来一直是这么说的，但这很难改变任何人。(2022-01-24)",[827,996,997],{},"网友：你觉得真有“饥饿营销”这样的事情吗？",[827,999,1000,1002,1003,1006,1007,1010],{},[833,1001,835],{}," “饥饿营销”是那些所谓的不懂销售的市场大师们编出来的，现实当中没这个东西。",[833,1004,1005],{},"苹果","给人感觉确实是因为供不上货。我见到最早这么卖东西的是",[833,1008,1009],{},"任天堂","。(2011-05-07)",[827,1012,1013],{},[833,1014,1015],{},"傻瓜才会饥饿营销呢。饥饿营销的潜台词其实就是蒙你没商量，好公司没人会干这个事情的，干这事的公司很难成为好公司。(2024-10-17)",[827,1017,1018],{},[833,1019,1020],{},"饥饿营销也许在某些奢侈品上有点道理，比如爱马仕的东西几乎都是限量版的？毕竟物以稀为贵吧。我没买过限量版的东西，也不追求那种感觉，所以很难体会。(2024-10-19)",[827,1022,1023,1025],{},[833,1024,835],{}," （外界）有个误解，以为我们很看重营销。其实对于我们来说，营销一点儿都不重要，最重要的还是产品。没有哪家公司的失败，是因为营销失败。公司失败，本质都是因为产品的失败。当然我不是说不要营销，事实上我们营销做得很好。营销，就是用最简单的语言，把你想传播的信息传播出去（给你的用户）。",[827,1027,1028,1029,1032],{},"我这里是要强调，营销不是本质，本质是产品。",[833,1030,1031],{},"营销最重要的，就是不能瞎说"," 。企业文化最重要。广告最多只能影响20%的人，剩下80%是靠这20%影响的。营销不好，顶多就是卖得慢一点，但是只要产品好，不论营销好坏，20年后结果都一样。（2018-09-30）",[822,1034,1036],{"id":1035},"第二节-广告只表达产品不赋予产品","第二节 广告只表达产品，不赋予产品",[827,1038,1039],{},"网友：我觉得OPPO用广告来制造产品做得很成功。这个时代，产品已不仅是那些功能了，广告策划师也在制造产品。这方面OPPO走得很前沿。",[827,1041,1042,1044],{},[833,1043,835],{}," 记得我读EMBA时有个诺基亚的同学就说过，步步高就是靠广告起来的，我回答说，对，和诺基亚一样，都是靠广告。她说，诺基亚可不是光靠广告，然后我说，那你凭什么说我们是靠广告啊？MBA可不能白学哦。",[827,1046,1047],{},"这里讲个最基本的广告概念：广告不会赋予产品任何东西。广告只是表达产品而已，好的广告表达的效率高。一个好的广告的制作是非常不容易的，而且大多成本很高，不了解的人很难想象。（2010-10-16）",[827,1049,1050],{},"网友：说得太正确了。可惜国内太多聪明人总想通过营销把白菜卖出猪肉的价格来，本末倒置。",[827,1052,1053,1055],{},[833,1054,835],{}," 现在白菜是比猪肉贵了吧？这是个fact。广告只是把产品的功能发掘或展示出来，而不是赋予产品功能。没有这个理解，一个企业的广告早晚会出问题的。（2010-10-18）",[827,1057,1058],{},"网友：巴茨拿几千万去打广告，难道不是方向错误？用互联网的人，还有不知道YAHOO（雅虎）的？",[827,1060,1061,1063],{},[833,1062,835],{}," 看来你是真不懂啊。这个世界谁不知道可口可乐？为什么他们还要打广告？（2010-06-11）",[827,1065,1066,1068],{},[833,1067,835],{}," 怎么打广告我认为主要取决于你的目标消费群在哪里。其实瞄得最准的广告大概就是搜索类的广告了，阿里巴巴这方面好像现在也挺厉害的。（2010-04-23）",[827,1070,1071],{},"网友：马化腾的那种做法就是等待别人上瘾了再来收费，其实比尔·盖茨也这么做。我本人非常反感这些行为，这和愚弄消费者有什么区别？",[827,1073,1074,1076],{},[833,1075,835],{}," 那你觉得该怎么做？好东西让人先免费试试没什么错啊，这是最有效的广告。只有很少一部分产品可以这样做，大部分产品很难做到这一点。（2010-07-15）",[827,1078,1079],{},"网友：看到上海有一个很有意思的广告：“全球市值最大的银行”，银行名很小，这几个字N公里外都能看见。如果段总是这个银行的老总肯定不会这样做广告吧？",[827,1081,1082,1084],{},[833,1083,835],{}," 这种广告越多，这个老总当的时间越短。（2010-05-05）",[827,1086,1087],{},"网友：请问阿段，对于老白干更换定位“从喝出男人味”到“不上头”，这个算是道的层面和术的层面？从情感定位变成功能性定位，从我的认知反而觉得会是种退步，且这种更换消费者心智印象的行为有可能不成功，记得之前李宁更换“90后李宁”也遇到类似的问题。",[827,1089,1090,1092],{},[833,1091,835],{}," 历史上有个广告比较“滴滴香浓意犹未尽”和“味道好极了”，你知道哪一个？另一个现在在哪里？广告想传达什么很重要，似是而非不好。（2018-08-21）",[827,1094,1095],{},"网友：记得段总以前用“不亢不卑”这个词形容过苹果零售店员工的服务态度，印象很深。今天又看到苹果的“不搞推销”，受益。",[827,1097,1098,1100],{},[833,1099,835],{}," 苹果的广告都没见过推销的，一般见到的都是融入生活的场景。这种广告效果慢但持久。（2014.07）",[827,1102,1103],{},"网友：我的MacBook Air有一次不小心掉到浴缸的水里。马上拿起来用电吹风吹吹真的还能开机接着用，跟几个朋友说过这事有些人还不太相信总说我在推销苹果，我说难道苹果是靠推销的？",[827,1105,1106,1108],{},[833,1107,835],{}," 我和“厨师”（cook）聊天时“厨师”特别提到苹果是不搞推销的。（2014-08-20）",[827,1110,1111],{},"网友：段总，（苹果产品）是不是可以理解为另一种“饥饿”营销。",[827,1113,1114,1116],{},[833,1115,835],{}," 说苹果饥饿营销的人根本就不知道什么是营销。那是个“专家”编出来的名称。（2011-04-27）",[827,1118,1119],{},"网友：你觉得真有“饥饿营销”这样的事情吗？我总不能相信一个公司原来可以卖很多货会故意控制销售速度制造饥饿。",[827,1121,1122,1124],{},[833,1123,835],{}," “饥饿营销”是那些所谓的不懂销售的市场大师们编出来的，现实当中没这个东西。苹果的东西给人这个感觉确实是因为供不上货。我见到最早这么卖东西的是任天堂。（2011-05-07）",[827,1126,1127],{},"网友：今晚在超市看见OPPO R9的广告有一点耳目一新的感觉，去问服务员多少钱，2799元，缺货，预定后三天到货！这绝对不是饥饿营销，有想买的欲望！",[827,1129,1130,1132],{},[833,1131,835],{}," “饥饿营销”这是个不懂营销的人才懂的一个词。（2016-04-15）",[827,1134,1135],{},"网友：现在越来越多的公司都开始上微博了。你们公司微博营销了吗？你对这个趋势怎么看？",[827,1137,1138,1140],{},[833,1139,835],{}," 必须的！（2012-03-28）",[827,1142,1143],{},"网友：请问大道对广告市场怎么看？",[827,1145,1146,1148],{},[833,1147,835],{}," 广告市场很大，和经济总量几乎是线性相关的。（2019-04-29）",[827,1150,1151],{},"我们的宣传广告也要正确简洁地告诉消费者，不能说一些言过其实的话去蒙骗消费者，假话说多了，人家也就不信了，你也就没得玩了。",[827,1153,1154],{},[833,1155,1156],{},"广告只是把产品的功能发掘或展示出来，而不是赋予产品功能。没有这个理解，一个企业的广告早晚会出问题的。(2010-10-18)",[827,1158,1159],{},[833,1160,1161],{},"广告是效率导向的，就是把产品本身用尽可能高的效率传达给你的目标消费群。最不好的广告就是夸大其词的广告，靠这种广告的公司最后都不会有好下场，因为消费者长期来讲是个极聪明的群体。",[827,1163,1164],{},[833,1165,1166],{},"广告能影响的消费者只有20%左右，其余全靠产品本身。(2010-04-23)",[827,1168,1169,1170,1173],{},"网友：我倒有一个小小的反例，我听说",[833,1171,1172],{},"三星","电子的很多广告都是自己公司的广告部门做的。",[827,1175,1176,1178,1179,1181],{},[833,1177,835],{}," 你可能讲得是对的，好像对",[833,1180,1172],{},"的广告从来就没有记忆，确实是个很好的反例。(2011-06-20)",[827,1183,1184,1185,1187],{},"网友：电视剧《欢乐颂》里的人用的笔记本和手机清一色都是",[833,1186,1005],{},"，这样的嵌入式广告真好。",[827,1189,1190,967,1192,1194,1195,1197],{},[833,1191,835],{},[833,1193,1005],{},"不太做推销式广告，做的基本上都是功能性或场景式广告。",[833,1196,1005],{},"广告见效慢点，但影响深，长期的潜移默化力量很大。(2016-05-09)",[827,1199,1200,1203,1204],{},[833,1201,1202],{},"广告制作一定是找行家的，自己做不可能做得好。如果自己能做好广告的话，世界上最好的广告公司就会是","可口可乐",[833,1205,1206],{},"广告公司。",[827,1208,1209],{},"网友：用户不是傻子。用户需要的是真实的体验而不是所谓的数据。广告传达的应该是产品能够给用户带来的真实的体验。如果一家企业首先就没有做对的事情，还一心想和同行比高低，和用户耍小聪明，广告是把双刃剑（这个比喻真贴切），广告语若是言过其实的话，吆喝声越大死得越快。",[827,1211,1212,1214,1215,1218],{},[833,1213,835],{}," 广告只是把产品的功能发掘或展示出来，而不是赋予产品功能。广告是效率导向的，就是把产品本身用尽可能高的效率传达给你的目标消费群。",[833,1216,1217],{},"最不好的广告就是夸大其词的广告，靠这种广告的公司最后都不会有好下场，因为消费者长期来讲是个极聪明的群体。"," 广告能影响的消费者大概只有20%左右，其余全靠产品本身。（2010-04-21）",[822,1220,1222],{"id":1221},"第三节-广告词与明星代言","第三节 广告词与明星代言",[827,1224,1225],{},[833,1226,1227],{},"引用：（视频）财富人生——段永平 2004",[827,1229,1230],{},"（旁白：小霸王曾经是一个家喻户晓的品牌，当年段永平重金聘请了国际武打巨星成龙，拍了一个广告，同是天下父母心、望子成龙小霸王，打动了成千上万父母的心，小霸王从此响彻天下！创建步步高后，段永平在推出无声电话、VCD、学习机的同时，又推出了几则经典广告，系功夫明星李连杰在电视上演绎真功夫之后，段永平还邀请了周星驰、张惠妹等明星为步步高电器代言。2000年，步步高更是大手笔请来了国际巨星施瓦辛格，那段时间，步步高的广告里总是一片耀眼星光。）",[827,1232,1233],{},"主持人：很多人都说这个阿段的这个营销意识很强，你看它这个小霸王和步步高它这个品牌的营造上他就特别有头脑，我觉得现在老百姓想到这个步步高无绳电话还是对您那几个广告记忆非常深，您为什么要走这个明星路线？",[827,1235,1236,1238],{},[833,1237,835],{}," 我觉得选明星和不选明星，我们并没有这样一个原则是一定要选明星做广告，广告它最单纯的东西就是如何提高你的传播效率，你会利用一切最省钱的办法去传播。",[827,1240,1241],{},"主持人：您觉得省钱吗？",[827,1243,1244,1246],{},[833,1245,835],{}," 我觉得他是最省钱的一种想法。",[827,1248,1249],{},"主持人：用明星省钱吗？",[827,1251,1252,1254],{},[833,1253,835],{}," 有时候是，做对了，举个很简单的例子，我们当年小霸王用成龙这个概念，你比方说有些人看三次就记住了，要没有成龙的话，你可能要看八次九次十次，甚至可能更多次你还是记不住。",[827,1256,1257],{},"主持人：而成龙的高知名度就迅速的……",[827,1259,1260,1262],{},[833,1261,835],{}," 没错，是有很大的关系。我当时算过一个账，就是说我们付给成龙的钱大概相当于我们整个广告投放量的不到10%，大概只有百分之几，为什么说它便宜？只要这条广告由于成龙的存在提高了百分之几的记忆度或者影响度或者好感度，你就已经是赚到了，你简单的评价一下，它一定是远远不止百分之几。",[827,1264,1265],{},"主持人：那么施瓦辛格呢？",[827,1267,1268,1270],{},[833,1269,835],{}," 施瓦辛格我觉得概念也是一样的，也是这个概念。",[827,1272,1273],{},"主持人：能不能透露一下您请施瓦辛格花了多少美金？",[827,1275,1276,1278],{},[833,1277,835],{}," 我们这个也算是过去了，因为在做的过程当中，大家承诺是不向外透露的，我们当时大概总共花了250万美金。",[827,1280,1281],{},"主持人：那我知道其实这里面有点故事，就是付了250万美金之后，这个故事没有完，后来还有点小曲折是吧？",[827,1283,1284,1286],{},[833,1285,835],{}," 后来是这个广告播了大概两个多月就被停播了，为什么停播呢？是因为当时有观众给电视台反应，而且反应都非常强烈，说为什么用外国人做广告，而且在黄金时间播，电视台可能觉得有为难的地方，就不让我们播了。",[827,1288,1289],{},"主持人：他需要你更换这个广告内容？",[827,1291,1292,1294],{},[833,1293,835],{}," 他不是更换，他是不让你用外国人做广告，其实后来还有很多品牌碰到类似的问题。实际上你要非黄金时间也就算了，看的人就少，反映的也就少，呼声就没有那么高，为什么会这样呢？这个我也不是很懂，其实本来是没有关系的一件事，但不让播，我们一点办法也没有。",[827,1296,1297],{},"我们说发生小插曲，这个给我们带来的损失非常大，因为我们整个计划都是两年，你要是不让播，我等于主流的广告渠道没有了，这一下就变得很被动。",[827,1299,1300,1301,1304],{},"（访谈全文见",[880,1302,304],{"href":1303},"\u002Fduanyongping-2004caifurensheng-duanyongping-2004-caifang","。）",[827,1306,1307],{},"网友：段总做人这么拼，现在又生活在加州，不知道现在和施瓦辛格州长——您的产品的代言人，是否还有联系？",[827,1309,1310,1312],{},[833,1311,835],{}," 联系他干嘛？",[827,1314,1315],{},"网友：广告没播，你们也是受害者，他老人家就没请您吃顿牛排补偿一下？他们应该知道你们也是受害者的吧？委屈了！不过马云先生说，男人总是在委屈中长大，向段总学习了！",[827,1317,1318,1320],{},[833,1319,835],{}," 呵呵，你知道的还挺多。马云这话说的，有点大男子主义。谁没点委屈。（2010-05-28）",[827,1322,1323],{},"网友：我记得您和李大师合作过的，回头想想您的小霸王和步步高也是很善用广告。",[827,1325,1326,1328],{},[833,1327,835],{}," 呵呵，如果一个人真的很厉害，我们没有道理不长期合作的。（2010-06-11）",[827,1330,1331],{},"网友：说到成龙，格力请成龙做的电视广告我看是真不咋地，配音是格力掌握核心科技不是花拳绣腿，画面却是成龙大哥在玩拳，呵呵成龙是演员，那不是花拳绣腿是什么？明显的不对板。",[827,1333,1334,1336],{},[833,1335,835],{}," 呵呵，广东话里“好功夫”就是“真功夫”，普通话里有点区别。",[827,1338,1339],{},"网友K：如果段总请成龙给OPPO做广告，看会不会倒？成龙是“广告杀手”，没有逻辑。",[827,1341,1342,1344],{},[833,1343,835],{}," 成龙不适合OPPO的广告。OPPO的广告非常年轻化。",[827,1346,1347],{},"网友：马云说长相和事业成反比，喃也很认同。",[827,1349,1350,1352],{},[833,1351,835],{}," 那要看干什么事业。",[827,1354,1355],{},"网友：看干什么事业，哈哈哈哈哈，笑死我了，段老师你也太幽默了！",[827,1357,1358,1360],{},[833,1359,835],{}," 你们想偏了吧？当明星的长相很重要啊，哪怕是体育明星也很重要，广告价值差很多。（2010-07-22）",[827,1362,1363],{},"网友：请教一个问题，企业选择代言人的标准是什么？像可口可乐、步步高等没有广告部门的企业，是提具体的代言人标准然后让广告公司去弄还是自己去跟目标代言人接触呢？",[827,1365,1366,1368],{},[833,1367,835],{}," 你能告诉我人们选择餐厅的标准吗？（2012-02-23）",[827,1370,1371],{},"网友：OPPO手机广告（请迪卡普里奥拍的那个），很牛啊，一看有很高档、很精致的感觉，这在中国公司里面比较少，挺不错的！你自己怎么看那个宣传广告？",[827,1373,1374,1376],{},[833,1375,835],{}," 我也觉得不错，但产品怎么样还看不出来。（2011-08-17）",[827,1378,1379],{},"网友：呵呵。今天想起了步步高的广告词，记不全了大概记得是：说到不如做到，要做就做最好，步步高。",[827,1381,1382,1384],{},[833,1383,835],{}," 说到不如做到。这和广告词的关系好像很微弱。",[827,1386,1387],{},"网友L：说到不如做到，要做就做最好，步步高；这个广告很多消费者感觉很踏实，请问段总您当时是这么想到的？",[827,1389,1390,1392],{},[833,1391,835],{}," 别人写的词，我选的。",[827,1394,1395],{},"网友S：说起这个问题，我倒是有一个小小的反例，三星电子，我听说他们的很多广告都是自己公司的广告部门做的。",[827,1397,1398,1400],{},[833,1399,835],{}," 你可能讲的是对的，好像对三星的广告从来就没有记忆，确实是个很好的反例。",[827,1402,1403],{},"网友：小霸王一打开电源就是一句“小霸王，其乐无穷”的话，真有趣。",[827,1405,1406,1408],{},[833,1407,835],{}," 呵呵，唐老鸭（李扬配音）的“小霸王其乐无穷啊”。（2010-06-06）",[827,1410,1411],{},"网友：近两年我最喜欢的广告语是：“充电五分钟，通话两小时。”简单明了，直指要点，郎朗上口。",[827,1413,1414,1416],{},[833,1415,835],{}," 哈，有人说：“充电五分钟，通话三个半小时”，然后他破产了，为什么呢？（2018-08-24）",[827,1418,1419],{},"网友：当时怎么一眼选中的，靠眼缘？是阿段拍板的吗？后来李亚鹏拍笑傲江湖超级火。",[827,1421,1422],{},"大道：演员不是我选的，广告词我参与了很多。（2026-08-17）",[827,1424,1425],{},"网友：在上海看到有一个很有意思的广告，“全球市值最大的银行”这几个字N公里外都能看见，但银行名很小，如果段总是这个银行的老总肯定不会这样做广告吧？",[827,1427,1428,1430],{},[833,1429,835],{}," 这种广告越多，这个老总当的时间越短。(2010-05-05)",[827,1432,1433],{},"历史上有个广告比较，“滴滴香浓意犹未尽”和“味道好极了”，你知道哪一个？另一个现在在哪里？广告想传达什么很重要，似是而非不好。(2018-08-21)",[827,1435,1436],{},"网友：选代言人的标准是什么？",[827,1438,1439,1441],{},[833,1440,835],{}," 你能告诉我人们选择餐厅的标准吗？(2012-02-23)",[822,1443,1445],{"id":1444},"第四节-广告投入与产出","第四节 广告投入与产出",[827,1447,1448],{},"网友：请教阿段当年做步步高时在广告投入上是怎样预算的？现在有一家阿胶公司一年的收入是30亿，净利润是10亿，一年的广告费是1.5亿。我的第一感觉广告投入有点少。",[827,1450,1451,1454],{},[833,1452,1453],{},"段永平：广告预算很简单啊，用赚到的钱的一部分打广告就行了。激进一点的办法或许是用一点点很有把握在未来能赚到的钱。以上说法只针对纯生意而言。对那些广告不是打给用户的打法不在此列。"," （2013-08-02）",[827,1456,1457],{},"网友：我还是蛮好奇大道是怎么计算打广告带来多少收益。",[827,1459,1460,1463,1464,1467],{},[833,1461,1462],{},"段永平"," ：我没算过（不知道算不算大秘密？），但一般最多只花到净",[880,1465,88],{"href":1466},"\u002Fxianjinliu","的一部分（不然不安全）。现在估计也应该是这个意思，只是比例下降了而已。（2019-09-29）",[827,1469,1470],{},"网友：做广告是否要追求及时的投入产出比，如果做了广告发现效果一般，那有没有一个时间限制，多久内如果效果还不行，那就决定不做了。对于广告的投入和产出，大概有一个比较量化的标准吗？",[827,1472,1473,1475],{},[833,1474,835],{}," 投入产出当然是要的，但要看用多长的时间算。越小的生意对回报的及时性要求越高，不然会撑不住的。好效率的广告是需要很多积累的，没有犯过错误的人或公司是很难一直有好广告的。",[827,1477,1478],{},"没做过广告或广告规模小的现在最好从搜索广告开始，容易看到效果，知道成本。我们当年开始时很多时候完全是靠感觉和悟性，有很多悟性差的对手都掉坑里了。",[827,1480,1481,1482,1485],{},"总而言之，",[833,1483,1484],{},"广告只是marketing中间的一个环节，在整个企业经营当中的作用千万别扩大化，不然很容易掉坑里。酒香也怕巷子深，广告只是让巷子没那么深的办法而已。如果酒不好还使劲吆喝，那秦池酒就是其必然下场。"," 我没见过所谓的很准确的量化标准，但好的公司应该都有个大致的准则。（2011-08-16）",[827,1487,1488],{},"网友：我发现了一些网络广告的小技巧，请段大哥指正。网络广告就是要自己看自己的转化率来逆推，不要看别人怎么出价，我1单能赚多少钱，然后推出来我一个展现或者一个点击要支付多少成本，就按照这个成本以下出价。我现在让他们按照我这个思路做广告投放，现在发现投入产出比竟然赚钱了，之前他们做网络广告总是亏的，虽然看到流量一大堆。",[827,1490,1491,1493,1494,1497],{},[833,1492,835],{}," 和任何投入一样，广告当然也要计算投入产出。大公司的广告规模大，投入产出的计算时间有时候会长很多，尤其是品牌广告。小公司的广告则应该以销售广告为主，尤其是搜索广告可能最好，因为搜索广告更精准且较容易算出投入产出比。",[833,1495,1496],{},"有些公司广告费比营业额高是肯定有毛病的，但问题出在哪里只有花钱的人才能最后找到，如果他们寿命足够长的话"," 。（2011-11-08）",[827,1499,1500],{},"网友：网络公司纷纷在传统媒体上打广告，腾讯、拉手网、赶集网等都在央视打广告；高朋、腾讯微博在电梯上广告。觉得是泡沫了。",[827,1502,1503,1505],{},[833,1504,835],{}," 都打广告也可能说明市场大，大家都看好未来。其实大家都打广告的效果和大家都不打的效果是很接近的，所以这是个囚徒的困境，我们也常在这个困境中。",[827,1507,1508],{},"苹果的日子好过多了，有点啥东西出来全世界一堆人哭着喊着地到处说，真羡慕啊。（2011-04-08）",[827,1510,1511],{},"网友T：3个月前我们在一个时装杂志上做了一些招加盟商的广告，加上模特拍摄什么的花了20多万，现在3个月过去了，就十几个咨询电话，关键是一个有意向来深圳参观的都没有，这个效果实在是太差了。",[827,1513,1514,1516],{},[833,1515,835],{}," 你们的这种广告直觉上可能在百度上做效果更好。但你自己首先要有个不错的网站才行。",[827,1518,1519],{},"网友：1997年CCTV竞标会上，步步高以8012.3456万元的价码竞投标的，1998年，步步高投入1.59亿元成为CCTV实际上的标王。",[827,1521,1522,1524],{},[833,1523,835],{}," 呵呵，那个不叫标王。标王是有定义的。那时候的广告真便宜啊，现在如果投同样多的钱，估计很难听到响。我们投这种规模广告也是挺辛苦的，但这种投资很合算啊，现在要难很多了。我们公司投标从来都是很理性的，那是要花钱的。当然，有些人实际上后来就没付钱，对其他人来讲确实不公平，因为他们抬高了价钱。（2010-05-28）",[827,1526,1527],{},"网友：2000-3000万美元？那真是够小的了，那时候就感觉段总老是去CCTV做标王的，好像广东帮胡志标、段总、何伯权老是去做标王的。",[827,1529,1530,1532],{},[833,1531,835],{}," 我们从来没做过标王，不知道人们为什么乱讲。（2010-05-28）",[827,1534,1535],{},"网友：关于步步高的问题，他前段时间广告的好几款电器都是请了好几个韩国的女星，这样的代言费和广告费加起来应该不是小数目吧？投入和产出怎么样？",[827,1537,1538,1540],{},[833,1539,835],{}," 投入和产出的问题我不清楚。不过我知道我们公司投广告一直都很理性，绝不会乱来的。（2010-03-21）",[827,1542,1543],{},"网友：中国有决断力又舍得在广告营销上下大手笔的人，史玉柱、牛根生俺都看过很多资料。牛根生11年前带12个人出来创立蒙牛股份，只有1300万资金没有工厂，到东北找奶厂代工，居然就那么舍得在品牌推广上下成本。一般人没有这样的胆量，就算有恐怕也驾驭不了发展这么快速的企业。",[827,1545,1546,1548],{},[833,1547,835],{}," 快速会翻车的。史玉柱、牛根生都不是舍得在营销上下“大手笔”的人，他们不过是花他们觉得该花且花得起的钱而已。“敢”下“大手笔”的那些公司好像都不见了。（2010-04-23）",[827,1550,1551],{},"网友：想请教您一个有关花钱的问题。步步高在十年厂庆纪念晚会上，请到了央视著名主持人和当时一些演艺界的明星大腕，估计要花不少的钱；步步高还专门请过美国著名管理咨询公司给企业做过咨询；为了全球化的品牌商标OPPO，你们又花巨资请国外机构在全球各地区做语音语义测试。我想请教的是，为了解决问题，花钱时都有什么讲究？或者说，花钱时，不要犯哪些错误？",[827,1553,1554,1556,1557,1560],{},[833,1555,835],{}," 我们公司从来都是花自己的钱，连有息贷款都没有，怎么可能会乱花钱？你花自己钱的时候就会知道需要有啥讲究了，至少你会从经验教训中学会的。不过，用花钱的说法其实是有点怪的，",[833,1558,1559],{},"公司的运营里我们一般叫投入。投入是和产出相关的，会经营的人自然是会算账的人"," 。（2019-03-20）",[827,1562,1563],{},"网友：茅台经常在央视做新闻联播前的报时广告，不知道效果怎么样，或许改为苹果这种广告效果会更好，把产品融入到家庭节日聚餐或其他喜庆动人的生活场景。",[827,1565,1566,1568],{},[833,1567,835],{}," 个人感觉报时广告对茅台似乎不太合适，但想不出合适的是什么。不过，对茅台而言，做点广告比一点不做好。只要茅台持续做，他们会找到更合适的广告的。（2014.07）",[827,1570,1571],{},"网友：前几天去了趟广交会，是第一次，好奇之下就搜索参展商看看有没有学长的企业，发现没有。想请问一下学长，您以前公司小的时候参加过广交会吗？小公司的新产品用什么方式推广是您认为最有效的？",[827,1573,1574,1576],{},[833,1575,835],{}," 我们不去任何这类展会的，包括拉斯维加斯的CES。这种推广的办法对推广品牌事倍功半。小企业一旦开始用这个办法找生意后，很可能就会很难发展品牌了。（2013-10-27）",[827,1578,1579],{},"网友l：参加展会，我的理解会出现迷失，因为会发现别人有很多东西很新很好，那么就想也学过来，这样会从客户需求上迷失；如果真的达成生意的话，那么会迷失不再去关注用户需求，只需关注大客户订单需求，我是这么理解。",[827,1581,1582,1584],{},[833,1583,835],{}," 我说的是我们公司的产品不摆展，人还是应该去看看的！（2013-10-28）",[827,1586,1587],{},"快讯：报道称微软将向国际消费电子展说“不”",[827,1589,1590],{},"据美联社报道，微软公司周三表示，2012年美国拉斯维加斯国际消费电子展（CES）将是该公司最后一次参展CES。报道称，微软将会在自己的发布会投入更多精力。",[827,1592,1593,1595],{},[833,1594,835],{}," 微软终于明白去ces是件费力不讨好的事情了。苹果早就明白了，我们公司也算一开始就知道地。现在还有很多国内公司每年在ces劳民伤财，希望他们能再想想。",[827,1597,1598,1599,1601,1602,1605],{},"网友：像",[833,1600,1203],{},"这样的",[880,1603,141],{"href":1604},"\u002Fpinpai","人人都知道，还需要打广告吗？",[827,1607,1608,1610,1611,1203,1614,1617],{},[833,1609,835],{}," 这是广告学里面的东西。",[833,1612,1613],{},"据说",[833,1615,1616],{},"早年也被质疑过为什么还要打广告，于是做了一个实验，在一个很小的欧洲国家停了一年广告，结果当年相对其他国家或地区的销量下降了很多","。(2020-12-05)",[827,1619,1620],{},"网友：步步高最近的生活电器产品的广告都是在央视播放的，本身的广告费用已经很庞大了，但是代言人还都是韩国的一线明星，这个代言费不是又很庞大吗？广告费和代言费都不是小数目，能不能保本呢？是不是会大幅抬高步步高电器的价格呢？",[827,1622,1623,1625],{},[833,1624,835],{}," 广告费只可能占价格的很小一部分。消费者的眼睛是雪亮的，价格太贵他们会不知道（2010-03-27）",[827,1627,1628,1629,1631],{},"投入和产出的问题我不清楚。不过我知道我们公司投广告一直都很",[880,1630,222],{"href":894},"，绝不会乱来的。(2010-03-21)",[827,1633,1634],{},"网友：想起大道说的，当年为什么不自己做广告公司。",[827,1636,1637,1639],{},[833,1638,835],{}," 哈，那是很多年前的事情了。乐百氏当时成立了自己的广告公司，因为广告投放往往需要5%-10%的广告代理费。我们广告投放不小，这个钱省下来也不是个小数目。但一想到当年的广告大户们都没有自己的广告公司，我就觉得也许我们还是先不要试错的好。(2023-12-12)",[827,1641,1642,1643,985,1646,1648],{},"网友：",[833,1644,1645],{},"步步高",[833,1647,984],{},"的广告团队是自己养大的吗？还是找了很牛的外包？",[827,1650,1651,1653],{},[833,1652,835],{}," 广告制作一定是找行家的，自己做不可能做得好。如果自己能做好广告的话，世界上最好的广告公司就会是可口可乐广告公司。",[822,1655,1657],{"id":1656},"第五节-价格体系与渠道","第五节 价格体系与渠道",[827,1659,1660],{},"网友：有一个问题想听听您的看法：“家电零售业在价格上，是标高一点再讲价呢？还是标价就是卖价不讲价好点？”",[827,1662,1663,1666],{},[833,1664,1665],{},"段永平：任何东西都是标实价不讲价的好"," 。可以讲价实际上对卖家而言是个非常短视且成本很高的行为。成本很高指的是无法授权且容易造成管理漏洞，短视指的是如果可以还价，那就是在鼓励回头客来讨价还价。对于客户而言，任何讨价还价都会让他们有可能吃亏了的感觉，因为客户很可能觉得价钱还没还够。（2015-06-12）",[827,1668,1669,1671],{},[833,1670,835],{}," 这里透露一个小机密：我们公司卖东西是没有还价空间的，所有的客户都是一个价，不管生意大小，生客熟客……刚刚开始经营企业时我就发现，所谓谈生意谈来谈去主要是在谈价钱。人们把大量时间放在谈价钱上，而且在谈的过程中经常还需要诈来诈去的。",[827,1673,1674],{},"对于卖东西的业务员来说，价钱的授权是件非常困难的事情，所以他们总是要找更上一级领导去获取更多授权，所以领导就会变得非常忙且没有效率。所以我们在20多年前就没有讨价还价了。不讨价还价的好处实在是太多了，大家慢慢想哈。（2015-06-12）",[827,1676,1677,1679],{},[833,1678,835],{}," OPPO／vivo没有销售部（因为不需要谈生意）；不单独和客户谈价钱（所有客户一个价，省了双方非常多的时间和精力，10年20年加起来很恐怖啊）。（2018-09-24）",[827,1681,1682],{},"网友：我想了一下，不知道对不对，请段总指点：聪明厂家需考虑所有经销商的利益，不能偏袒。所以价钱不会便宜。",[827,1684,1685,1687],{},[833,1686,835],{}," 差不多吧。看看当年戴尔和康柏的关系也许就明白了。（2010-07-06）",[827,1689,1690],{},"网友：淘宝目前正在运作电器城，可是电器城的卖家却是经销商，而京东却是直接向厂家拿货的。这个怎么能够竞争得过京东呢？",[827,1692,1693,1695],{},[833,1694,835],{}," “厂家”货一定便宜吗？能想明白这个问题其实也不容易。",[827,1697,1698],{},"网友：没有销售部门，大小经销商提货价格是一样的，这样做的道理在哪呢？",[827,1700,1701,1703],{},[833,1702,835],{}," 这样就不用整天花时间讨价还价了。",[827,1705,1706],{},"刚刚开始经营时，我就发现每天绝大部分时间都花在和不同的客人讨价还价上面了。我当时一想，我们还是这么小的生意，那将来怎么办？我们大概花了3年时间才建立起了这套系统，简单不容易哈。",[827,1708,1709],{},"网友：你们公司的产品种类并不多，为何制定这套系统需要3年时间呢？",[827,1711,1712,1714],{},[833,1713,835],{}," 建立信任很难。",[827,1716,1717],{},"网友：3年后有底气说服经销商相信并接受这套系统？",[827,1719,1720,1722],{},[833,1721,835],{}," 相信的人会留下来。",[827,1724,1725],{},"网友：如果是小公司的话，面对财大气粗的经销商时，怎么让他们服从这套系统？",[827,1727,1728,1730],{},[833,1729,835],{}," 我们那时候就是小公司。",[827,1732,1733],{},"网友：我们公司是一家很小的电器企业，产品技术和产品品质在行业中处于领先地位，但由于进入市场时间短，在网络拓展方面一直做得不是很好（代理制），请问有什么好的办法，请赐教！",[827,1735,1736,1738],{},[833,1737,835],{}," 没什么好的办法，只能慢慢来。我们用的也是代理制。你要觉得代理制不好，那就试试别的办法，比如开分公司等等。过些年你也许会发现分公司可能更难。（2010-05-23）",[827,1740,1741],{},"网友：向学长请教一个有点儿幼稚的问题。我发现身边很多赚大钱的人都是做某某“中国区总代理”的，看起来钱特别好赚。“代理”这门生意是个什么特点的生意呢？是不是只有已经财大气粗的人才可以做？比如您的产品的代理商都是找什么样的条件的呢？",[827,1743,1744,1746],{},[833,1745,835],{}," 你觉得如果你找代理会要什么条件？你先设一个才能明白别人需要啥。有时候逆向思维会很有帮助，但大多数人不习惯。（2011-03-06）",[827,1748,1749],{},"网友：地区唯一代理商制度是不是阿段的发明、创造？如果是，你是怎样想到的；如果不是，你是从哪儿学来的？反正，在阿段以前，我没有发现别人用，基本上是走商场渠道，没见什么唯一总代理。还有，在建立唯一总代理制度的同时，阿段也尝试过建立直销部，未久，取消。",[827,1751,1752,1754],{},[833,1753,835],{}," 我不知道是谁发明的，我们只是为了解决自己当时的问题。这套办法在很多年里都是我们的优势，但在internet年代，我们这个办法会遇到巨大的挑战和威胁。也许在不久的将来，我们会为了继续生存慢慢或快快地进行或大或小的变革。我们不应该让重要的事有一天变成紧急的事。（2012-03-24）",[827,1756,1757,1758,1761],{},"网友：我认为步步高公司的“",[880,1759,74],{"href":1760},"\u002Fhuchenghe","”是渠道掌控，另一个优势就是对中国消费者的深刻洞见。请平哥指点。",[827,1763,1764,1766,1767,1769],{},[833,1765,835],{}," 传统",[880,1768,161],{"href":882},"的重要性会随着internet的发展而变得越来越小，但负担会越来越大。如果我们“渠道”上不能变革成功的话，我们就会有大麻烦。（2012-03-30）",[827,1771,1772],{},"网友：段总您是怎么看“终端制胜、渠道为王”这个理念的？",[827,1774,1775,1778],{},[833,1776,1777],{},"段永平：所谓终端制胜的说法就像最后让你吃饱了的那个馒头"," 。（2012-08-31）",[827,1780,1781],{},"网友：在中国，娃哈哈与双汇的网络比可乐做得好，可乐与宝洁一样，只是在城市市场强势，在农村市场又很可怜了。",[827,1783,1784,1786],{},[833,1785,1462],{}," ：如果农村市场大到一定程度可能就不一样了，还有就是你是用多少年来看的。双汇的网络现在还很好吗？宗庆后很强，他绝对可以在农村市场对抗可口可乐很多年，但“很多年”以后呢？（2011-04-08）",[827,1788,1789],{},"网友：段总，我去年买了一部步步高的手机，质量挺不错。前几天到“步步高音乐手机”专卖店买了一台豆浆机。今天在淘宝网上看到了跟我买的一样的豆浆机，要便宜20%，想问段总，“步步高音乐手机”专卖店是你们的直营店还是加盟店？在如今网购飞速发展的时代，为何还要大规模开实体店呢？",[827,1791,1792,1794],{},[833,1793,1462],{}," ：首先介绍一个商业的基本概念：绝大部分公司的所谓专卖店或直销店卖的都是公司的指导价，不大有可能会是便宜的价钱。去专卖店买东西最大的好处一定不是价钱，而是服务和货真（网上经常会有假货，价格非常便宜）。我估计步步高的专卖店应该都是在公司的原则指导下由各级代理商开的。网购确实在飞速发展，但整体比例依然还小，大部分公司还是需要实体店才能生存。（2011-03-27）",[827,1796,1797],{},"网友：烦问段哥对“网上店铺”有何见解，或问“网上店铺”和实体店铺有什么真正的区别，孰优孰劣？",[827,1799,1800,1802],{},[833,1801,835],{}," 苹果店是“网上店铺”还是“实体店铺”？（2011-05-24）",[827,1804,1805],{},"网友：段总有空能否讲讲淘宝模式和京东模式您的看法？",[827,1807,1808,1810],{},[833,1809,835],{}," 京东的模式好像不复杂，就是砸钱—融资—砸钱的过程。淘宝说不定有一天会成为中国最大的广告公司的。（2010-07-04）",[827,1812,1813],{},"网友：您对电商行业怎么看？",[827,1815,1816,1818],{},[833,1817,835],{}," 和别的行业一样，有好的企业，也有烂的企业。严格讲，“电商”只是手段或工具，不能叫做一个行业。未来无法适应电商这种工具的企业多数都会面临生存问题。（2014.09）",[827,1820,1821,1822,1824],{},"网友：产品和",[880,1823,161],{"href":882},"您都很懂，能谈谈两者的关系吗？",[827,1826,1827,1829,1830,1832,1833,1835],{},[833,1828,835],{}," 产品最重要，没有好的产品企业很难活得好。有了好的产品当然还是要建立",[880,1831,161],{"href":882},"去卖的。没有好的产品，很难建立好的",[880,1834,161],{"href":882},"，反之亦然。(2022-08-30)",[827,1837,1838,1839,1841],{},"网友：建立好",[880,1840,161],{"href":882},"有什么基本原则？",[827,1843,1844,1846,1847,1849,1850,1852,1853,1855,1856,1858],{},[833,1845,835],{}," 在有好产品的前提下，",[880,1848,161],{"href":882},"会变得没那么重要。最好的",[880,1851,161],{"href":882},"就是像",[833,1854,1005],{},"店这种模式，",[880,1857,161],{"href":882},"完全和公司文化吻合，不然就是尽量朝这个方向努力。(2023-01-15)",[827,1860,1861,1862,1864,1865,1867,1868,1870],{},"网友：我认为",[833,1863,1645],{},"公司的",[880,1866,74],{"href":1760},"是",[880,1869,161],{"href":882},"掌控，另一个优势就是对中国消费者的深刻洞见。",[827,1872,1873,1766,1875,1877,1878,1880],{},[833,1874,835],{},[880,1876,161],{"href":882},"的重要性会随着互联网的发展而变得越来越小，但负担会越来越大。如果我们",[880,1879,161],{"href":882},"上不能变革成功的话，我们就会有大麻烦。(2012-03-31)",[827,1882,1883,1884,1886,1887,1889],{},"网友：前几天到",[833,1885,1645],{},"专卖店买了一台豆浆机。今天在网上看到了同一款豆浆机，要便宜20%，",[833,1888,1645],{},"专卖店是你们的直营店还是加盟店？在如今网购飞速发展的时代，为何还要大规模开实体店呢？",[827,1891,1892,1894,1895,1897],{},[833,1893,835],{}," 首先介绍一个商业的基本概念：绝大部分公司的所谓专卖店或直销店卖的都是公司的指导价，不大有可能会是便宜的价钱。去专卖店买东西最大的好处一定不是价钱，而是服务和货真(网上经常会有假货，价格非常便宜)。我估计",[833,1896,1645],{},"的专卖店应该都是在公司的原则指导下由各级代理商开的。网购确实在飞速发展，但整体比例依然还小，大部分公司还是需要实体店才能生存。",[827,1899,1900],{},"(2011-03-28)",[827,1902,1903],{},"网友：网上店铺和实体店铺有什么真正的区别？",[827,1905,1906,967,1908,1910],{},[833,1907,835],{},[833,1909,1005],{},"店是“网上店铺”还是“实体店铺”？(2011-05-24)",[827,1912,1913],{},"出厂价一致才容易保持公平，不然会有很多漏洞的。(2013-08-12)",[827,1915,1916],{},"网友：如果厂家根据市场情况制定了产品的出厂价，那就应该是考虑了代理商的利润，至于代理商的出货价格只要不是恶意竞争，厂家就不应该限制。让市场来反映产品竞争力这样应该比厂家设定产品零售价格的上下限通畅一些，而且也少了监管成本。",[827,1918,1919,1921,1922,1924],{},[833,1920,835],{}," 呵呵，你用长期来想就知道这样不是最好的办法。看看",[833,1923,1005],{},"就明白为什么。(2012-05-05)",[827,1926,1927],{},"网友：搭售在很多行业都存在。这是什么原因造成的呢？",[827,1929,1930,1932],{},[833,1931,835],{}," 原因只有一个，就是短视。(2024-10-15)",[827,1934,1935],{},"网友：企业啥时候能开价格战这个大招？",[827,1937,1938,1940],{},[833,1939,835],{}," 犯病的时候。(2014-09-30)",[827,1942,1943],{},"网友：企业要去库存，特别是出新产品的时候基本都会对现有产品进行调价。这个调价您怎么看？",[827,1945,1946,1948],{},[833,1947,835],{}," 这个正常。(2014-10-01)",[827,1950,1951],{},"网友：曾经有批发商拿你们公司的产品然后你们自己贴了地址条，后来批发商客户找上门来了。批发商的角度当然是不希望让客户知道自己的货源。你们是悄悄放的吗？怎么衡量得失的呢？",[827,1953,1954,1956],{},[833,1955,835],{}," 那时产品质量法还没出来，国家还没有硬性要求厂家必须在产品包装上打上地址。当时我们只是希望万一机器出问题时用户能找到我们，和质量法要求的意思不谋而合。(2019-06-20)",[827,1958,1959,1960,1962],{},"网友：您怎么看“终端制胜，",[880,1961,161],{"href":882},"为王”？",[827,1964,1965,1967],{},[833,1966,835],{}," 所谓终端制胜的说法就像最后让你吃饱了的那个馒头。(2012-09-08)",[827,1969,1970],{},"网友：段大哥，品种越多，占用的渠道库存越大----是不是说会给经销商增加负担",[827,1972,1973,1975],{},[833,1974,835],{}," 经销商的负担难道不是自己的负担？怪不得有人为了2015年成第一而向经销商压货呢。（2011-04-09）",[827,1977,1978],{},"网友：想请教您一个关于企业经营方面的问题：在企业经营中我们经常发现有些企业会尽量占用上游供应商的货款，以保持企业经营与拓展的需要，但是本人认为这种做法却是不理智的做法。因为本人发现若厂家要多压供应商一个月货款，供应商就会自动提升报价。",[827,1980,1981],{},"若因款期压多一个月，供应商的单价提高1.5%-2%，若我们将这上升的1.5%-2%看作是月息的话，那么年息就变成了18%（1.5%*12）-24%（2%*12），年息18%-24%是非常高额的利息。请问您认为企业花这么高额的成本获得资金是理智的吗？",[827,1983,1984,1986],{},[833,1985,1462],{}," ：你说得对，过长压供应商款是不对的，而且羊毛一定要出在羊身上。我当CEO（首席执行官）时是规定过压款不能超过60天，不然我们要付利息。我们从差不多30年前就是这么做的了，和是否滋润无关。（2019-07-26）",[827,1988,1989],{},"网友：您的意思是否是指：经销商采购量不够的情况下，厂家的给的出厂价是比向大经销商采购还要高的？的确如此，这个是现实的商业状况。",[827,1991,1992,1994],{},[833,1993,835],{}," 卖得多就给得便宜的办法是对销售非常短视和初级的理解，尽管很多大公司也这么做。（2010-07-04）",[827,1996,1997,1998,2001],{},"网友：请教学长，对于账期有什么看法？我们创业中遵照",[880,1999,12],{"href":2000},"\u002Fbenfen","的思维，成长得不错，产品的口碑很好。过去受产能限制，供不应求，原则是现款现结，账期免谈，因此送走了很多潜在大客户。今年产能扩充，有些股东强烈提议接受账期喂饱产能。",[827,2003,2004],{},"我心底有点犹豫，账期带来一定比例的坏账是可以预见的，控制住筛选标准不会形成太大风险，但是过去行业里都知道我们公司不给账期，现在一旦开口，怕有蝴蝶效应。您觉得这个问题是不是触及文化基础的事？您的企业在早期发展过程中，对于放账期是什么态度？",[827,2006,2007,2009],{},[833,2008,835],{}," 最好不要给账期。但是，对你信得过的客户，如果非要给的话，也许按上一年营业额的5%-10%（淡季5%旺季10%）作为放款上限，而且要收付利息。这里最重要的是公平，要保证所有的客户得到的条件是一样的，不然会有很多人会来找你“谈生意”的。利息的收法也不难，你给所有的客户15天账期，超过15天的付你利息，少于15天的你付利息给他们就可以了。",[827,2011,2012],{},"具体方法你可以自己想，但一定要对所有人公平！（2018-10-04）",[827,2014,2015],{},"网友：“收不到钱的生意我们不做，不管听起来有多好。”嗯，你们的条件主要是什么，能让对方一听说您们的条件就走？会不会是先付款后发货，我猜的。其实我很想知道您们对应收账款是怎样管理的，或者是您所知道的一些好企业是怎样管理应收账款的？",[827,2017,2018,2020],{},[833,2019,835],{}," 我们的条件大概就是让对方开不可撤销信用证吧。对方显然是有备而来的，对我们的条件没兴趣。",[827,2022,2023],{},"别人怎么管的我不知道。早期我们也有过烂账问题，不过比例很小。我其实不知道我们现在是怎么管的，大概还是我们很久以前定的方案吧。",[827,2025,2026,2027,2030],{},"我们一般给客户的放账额度是过去该客户在我们这一年的营业额的3-5%，当然",[880,2028,212],{"href":2029},"\u002Fxinyu","不好的就一点都没了。这意味着一开始的时候是完全没有的。",[827,2032,2033],{},"我们比较平常心，少做生意没关系，收不到钱就麻烦大了。追款的成本非常高，而且还会对出问题的地区生意造成影响。我已经好些年没听说过有钱收不回来了。",[827,2035,2036],{},"呵呵，我记得上次（不是这次）金融危机时，有个韩国供应商问我：听说中国三角债问题很严重啊，我回答说：嗯，我也听说了。隔了半天，他问我，那你是说你们没有这个问题？我说，对！（2010-03-24）",[822,2038,2040],{"id":2039},"第六节-出海与国际市场","第六节 出海与国际市场",[827,2042,2043],{},"网友：学长您的OPPO在美国做广告吗？好像以前没见过哦。",[827,2045,2046,2048],{},[833,2047,835],{}," 目前还没有很多广告，只是在网上卖。OPPO的blu-ray DVD player可能是中国人做的唯一的高端电子消费品吧？我们那款899美金的卖得好像还不错，听说未来还有一款999美金的。我们的产品可是cnet rating得分第一啊。（2010-06-09）",[827,2050,2051],{},"网友：从OPPO digital的那个官网看，这完全是一个美国的品牌，very非常硅谷。从OPPO手机那个官网看，又完全是一个民族品牌，连英文版的都没有。学长真高手啊！",[827,2053,2054,2056],{},[833,2055,835],{}," 其实和我本人没啥关系，我什么也没做过。说不上有什么厉害的，觉得挺正常。能反过来的才叫厉害，有时真能见到这种公司。（2010-06-10）",[827,2058,2059,2061],{},[833,2060,835],{}," OPPO广告出现在美国各种媒体上的时间可能会在很久以后，估计两年内肯定不会有大规模的行动的。（2010-06-11）",[827,2063,2064],{},"网友：段总不会吧？OPPO不是国际品牌吗？印度现在有近12亿人口，市场潜力和中国差不多。",[827,2066,2067,2069],{},[833,2068,835],{}," 国际品牌就应该去人多的地方吗？我不觉得印度对我们来讲眼前是个好市场。也许一段时间以后会是的。（2010-11-08）",[827,2071,2072,2073,2076],{},"（OPPO 作为全球品牌的命名、设计与语音测试过程，见",[880,2074,484],{"href":2075},"\u002Fwenda-business-06","第五节。）",[827,2078,2079],{},"程实走出去成就苹果传奇NBA（篮球俱乐部）有句名言：“永远不要低估一颗总冠军的心”，在大浪淘沙的商业世界，这句话则可以换作：“永远不要低估传奇公司自我超越的勇气”...",[827,2081,2082,2084],{},[833,2083,835],{}," 怎么会得出这么个结论？。不过，国际化的定义很含糊，如果国际化指的是学到世界上的好东西的意思就没问题，如果是指的拼命到别的国家去做生意的话，对中国绝大多数公司而言还是蛮危险的。（2012-05-03）",[827,2086,1642,2087,2089,2090,2092],{},[833,2088,984],{},"不是国际",[880,2091,141],{"href":1604},"吗？印度现在有近12亿人口，市场潜力和中国差不多。",[827,2094,2095,2097,2098,2100],{},[833,2096,835],{}," 国际",[880,2099,141],{"href":1604},"就应该去人多的地方吗？我不觉得眼前印度对我们来讲是个好市场。也许一段时间以后会是的。(2010-11-08)",[827,2102,2103,2104,2106],{},"“",[833,2105,1005],{},"新传奇的中国启示，国际化成关键。”(新闻)",[827,2108,2109],{},"怎么会得出这么个结论？不过，国际化的定义很含糊，如果国际化指的是学到世界上的好东西的意思就没问题，如果指的是拼命到别的国家去做生意的话，对中国绝大多数公司而言还是蛮危险的。(2012-05-03)",[827,2111,2112],{},"我觉得所谓的全球化，像一个伪命题，你并不需要去追求它，到了该去的时候，自然就去了。你根本就没有那个实力，也没有那个需求的时候，走不出去的。(2025-01-05)",{"title":2114,"searchDepth":21,"depth":21,"links":2115},"",[2116,2117,2118,2119,2120,2121],{"id":824,"depth":21,"text":825},{"id":1035,"depth":21,"text":1036},{"id":1221,"depth":21,"text":1222},{"id":1444,"depth":21,"text":1445},{"id":1656,"depth":21,"text":1657},{"id":2039,"depth":21,"text":2040},"寻长坡以滚雪球","md",{},true,"\u002Fdao\u002Fqanda\u002Fwenda-business-07",{"title":545,"description":547},"段永平问答：营销、广告、渠道与出海｜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-07",[2134,2135,2136,161],"商业经营","营销","广告","2026-10-10","D6ONR-H883lEuUOC805nLVzjTcE2DJEf_aRmtBQbGNg","dao",[2141,2142,2143,2144,2145,2146,2147,2148,2149,2150,2151,2152,2153,2154,2155,2156,2157,2158,2159,2160,2161,2162,2163,2164,2165,2166,2167,2168,2169,2170,2171,2172,2173,2174,2175,2176,2177,2178,2179,2180,2181,2182,2183,2184,2185,2186,2187],{"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},[2189,2190,2191,2192,2193,2194,2195,2196,2197,2198,2199,2200,2201,2202,2203,2204,2205,2206,2207,2208,2209,2210,2211,2212,2213,2214,2215,2216,2217,2218,2219,2220,2221,2222,2223,2224,2225,2226,2227,2228,2229,2230,2231,2232,2233,2234,2235,2236,2237,2238,2239,2240,2241,2242,2243,2244,2245,2246,2247,2248,2249,2250,2251,2252,2253,2254,2255,2256,2257,2258,2259,2260,2261,2262,2263,2264,2265,2266,2267,2268,2269,2270,2271,2272,2279,2283,2287,2290,2295,2300,2303,2307,2310,2312,2316,2319,2322,2326,2331,2336,2341,2344,2348,2352,2354,2358,2361,2363,2368,2374,2376,2380,2382,2385,2389,2391,2394,2398,2403,2406,2410,2415,2419,2426,2430,2438,2440,2442,2447,2452,2459,2465,2466,2471,2473,2477,2481,2486,2488,2490,2496,2499,2501,2506,2508,2513,2517,2520,2525,2527,2529,2532,2536,2538,2541,2545,2547,2550,2553],{"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":2273,"type":429,"volume":9,"order":428},[427,2274,2275,2276,2277,2278,646],"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":2280,"type":435,"volume":436,"order":434},[2281,2282,58],"投资原则","买股票就是买公司",{"title":438,"slug":439,"category":427,"tags":2284,"type":435,"volume":436,"order":441},[2281,2285,2286],"投资理解","投资者",{"title":443,"slug":444,"category":427,"tags":2288,"type":435,"volume":436,"order":446},[2281,33,2289],"看懂生意",{"title":448,"slug":449,"category":427,"tags":2291,"type":435,"volume":436,"order":451},[2281,2292,2293,2294],"风险控制","不做空","不加杠杆",{"title":453,"slug":454,"category":427,"tags":2296,"type":435,"volume":436,"order":456},[2281,2297,2298,2299],"宏观经济","市场波动","牛熊市",{"title":458,"slug":459,"category":427,"tags":2301,"type":435,"volume":436,"order":461},[2281,18,222,2302],"学习方法",{"title":463,"slug":464,"category":427,"tags":2304,"type":435,"volume":467,"order":466},[2134,2305,2306],"伟大企业","长坡厚雪",{"title":469,"slug":470,"category":427,"tags":2308,"type":435,"volume":467,"order":472},[2134,70,2309],"投资确定性",{"title":474,"slug":475,"category":427,"tags":2311,"type":435,"volume":467,"order":477},[2134,74,146],{"title":479,"slug":480,"category":427,"tags":2313,"type":435,"volume":467,"order":482},[2134,2314,2315,53],"好产品","用户导向",{"title":484,"slug":485,"category":427,"tags":2317,"type":435,"volume":467,"order":487},[2134,141,2318],"产品",{"title":135,"slug":489,"category":427,"tags":2320,"type":435,"volume":467,"order":491},[2134,135,2321],"基业长青",{"title":493,"slug":494,"category":427,"tags":2323,"type":435,"volume":497,"order":496},[2281,2324,88,2325],"财务报表","ROE",{"title":499,"slug":500,"category":427,"tags":2327,"type":435,"volume":497,"order":502},[2281,2328,2329,2330],"定性判断","现金流折现","估值",{"title":504,"slug":505,"category":427,"tags":2332,"type":435,"volume":497,"order":507},[2281,2333,115,2334,2335],"折现率","市盈率","估值案例",{"title":509,"slug":510,"category":427,"tags":2337,"type":435,"volume":497,"order":512},[2281,2338,2339,2340],"分红","回购","资本配置",{"title":514,"slug":515,"category":427,"tags":2342,"type":435,"volume":497,"order":517},[2281,120,2343,115],"集中投资",{"title":519,"slug":520,"category":427,"tags":2345,"type":435,"volume":497,"order":522},[2281,2346,2347,2330],"买卖时机","持有",{"title":524,"slug":525,"category":427,"tags":2349,"type":435,"volume":497,"order":527},[2281,125,2350,2351],"套利","量化交易",{"title":529,"slug":530,"category":427,"tags":2353,"type":435,"volume":533,"order":532},[2134,12,18,186],{"title":535,"slug":536,"category":427,"tags":2355,"type":435,"volume":533,"order":538},[2134,2356,2357,227],"Stop Doing List","聚焦",{"title":540,"slug":541,"category":427,"tags":2359,"type":435,"volume":533,"order":543},[2134,2360,48],"创新",{"title":545,"slug":546,"category":427,"tags":2362,"type":435,"volume":533,"order":548},[2134,2135,2136,161],{"title":550,"slug":551,"category":427,"tags":2364,"type":435,"volume":533,"order":553},[2134,2365,2366,2367],"管理层","团队","激励",{"title":555,"slug":556,"category":427,"tags":2369,"type":435,"volume":533,"order":558},[2134,2370,2371,2372,2373],"收购","并购","多元化","多品牌",{"title":560,"slug":561,"category":427,"tags":2375,"type":435,"volume":564,"order":563},[2278,1005,2318,171],{"title":566,"slug":567,"category":427,"tags":2377,"type":435,"volume":564,"order":569},[2278,1005,2378,2379],"乔布斯","库克",{"title":571,"slug":572,"category":427,"tags":2381,"type":435,"volume":564,"order":574},[2278,1005,2330,2340],{"title":576,"slug":577,"category":427,"tags":2383,"type":435,"volume":564,"order":579},[2278,2384,141,70],"贵州茅台",{"title":581,"slug":582,"category":427,"tags":2386,"type":435,"volume":564,"order":584},[2278,2384,2387,2388],"公司治理","i茅台",{"title":586,"slug":587,"category":427,"tags":2390,"type":435,"volume":564,"order":589},[2278,2384,2330,120],{"title":591,"slug":592,"category":427,"tags":2392,"type":435,"volume":564,"order":594},[2278,2393,1645],"小霸王",{"title":596,"slug":597,"category":427,"tags":2395,"type":435,"volume":564,"order":599},[2278,596,2396,2397],"丁磊","游戏",{"title":601,"slug":602,"category":427,"tags":2399,"type":435,"volume":564,"order":604},[2278,2400,2401,2402],"阿里巴巴","雅虎","马云",{"title":606,"slug":607,"category":427,"tags":2404,"type":435,"volume":564,"order":609},[2278,606,2405],"情绪价值",{"title":611,"slug":612,"category":427,"tags":2407,"type":435,"volume":615,"order":614},[2278,2408,2409],"消费电子","日本制造",{"title":617,"slug":618,"category":427,"tags":2411,"type":435,"volume":615,"order":620},[2278,2412,2413,2414],"游戏行业","游戏公司","中国游戏",{"title":622,"slug":623,"category":427,"tags":2416,"type":435,"volume":615,"order":625},[2278,2417,2418],"互联网平台","科技产业",{"title":627,"slug":628,"category":427,"tags":2420,"type":435,"volume":615,"order":630},[2278,2421,2422,2423,2424,2425],"零售","电商","服务业","教育培训","航空",{"title":632,"slug":633,"category":427,"tags":2427,"type":435,"volume":615,"order":635},[2278,2428,2429],"能源","工业企业",{"title":637,"slug":638,"category":427,"tags":2431,"type":435,"volume":615,"order":640},[2278,2432,2433,2434,2435,2436,2437],"格力","美的","比亚迪","万科","招商银行","瑞贝卡",{"title":642,"slug":643,"category":427,"tags":2439,"type":435,"volume":646,"order":645},[646,23,28],{"title":648,"slug":649,"category":427,"tags":2441,"type":435,"volume":646,"order":651},[646,217,222,227],{"title":653,"slug":654,"category":427,"tags":2443,"type":435,"volume":646,"order":656},[646,2444,2445,2446],"职业","创业","享受过程",{"title":658,"slug":659,"category":427,"tags":2448,"type":435,"volume":646,"order":661},[646,2449,2450,2451],"家庭","孩子","教育",{"title":663,"slug":664,"category":427,"tags":2453,"type":435,"volume":646,"order":666},[646,2454,2455,2456,2457,2458],"开放心态","阅读","AI","公益","社会责任",{"title":668,"slug":669,"category":427,"tags":2460,"type":435,"volume":646,"order":671},[646,2461,2462,2463,2464],"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":2467,"type":682,"volume":9,"order":681},[2468,2469,1462,2470],"公司","人物","投资案例",{"title":684,"slug":685,"category":676,"tags":2472,"type":688,"volume":9,"order":687},[1005,70,135,156,2379,2378],{"title":690,"slug":691,"category":676,"tags":2474,"type":694,"volume":9,"order":693},[2475,2476,12,135,23],"黄峥","拼多多",{"title":696,"slug":697,"category":676,"tags":2478,"type":688,"volume":9,"order":699},[606,2479,151,2405,2480,141,74],"王宁","IP",{"title":701,"slug":702,"category":676,"tags":2482,"type":694,"volume":9,"order":704},[2479,606,2483,2484,23,2485],"创始人","CEO","商业理解",{"title":706,"slug":707,"category":676,"tags":2487,"type":688,"volume":9,"order":709},[2384,141,88,33,120],{"title":711,"slug":712,"category":676,"tags":2489,"type":688,"volume":9,"order":714},[596,2396,2397,88,120],{"title":716,"slug":717,"category":676,"tags":2491,"type":688,"volume":9,"order":719},[2492,2493,2494,2495,70],"腾讯","马化腾","微信","微信支付",{"title":721,"slug":722,"category":676,"tags":2497,"type":688,"volume":9,"order":724},[2400,2402,135,70,2498],"保留",{"title":726,"slug":727,"category":676,"tags":2500,"type":688,"volume":9,"order":729},[2476,2475,12,161,70],{"title":731,"slug":732,"category":676,"tags":2502,"type":688,"volume":9,"order":734},[2503,2504,2505,2456,74,33],"英伟达","黄仁勋","CUDA",{"title":736,"slug":737,"category":676,"tags":2507,"type":688,"volume":9,"order":739},[1009,2397,161,176,33],{"title":741,"slug":742,"category":676,"tags":2509,"type":688,"volume":9,"order":744},[2510,2511,135,2372,33,2512],"GE","通用电气","反思",{"title":746,"slug":747,"category":676,"tags":2514,"type":688,"volume":9,"order":749},[2515,2516,2451,70,2498],"新东方","俞敏洪",{"title":751,"slug":752,"category":676,"tags":2518,"type":694,"volume":9,"order":754},[2519,58,2282,18,227],"巴菲特",{"title":756,"slug":757,"category":676,"tags":2521,"type":694,"volume":9,"order":759},[2522,222,2523,33,2524],"芒格","逆向思维","Costco",{"title":761,"slug":762,"category":676,"tags":2526,"type":694,"volume":9,"order":764},[2378,1005,181,186,135],{"title":766,"slug":767,"category":676,"tags":2528,"type":694,"volume":9,"order":769},[2379,1005,2484,222,135],{"title":771,"slug":772,"category":676,"tags":2530,"type":694,"volume":9,"order":774},[2402,2400,135,18,2531],"理想主义",{"title":776,"slug":777,"category":676,"tags":2533,"type":694,"volume":9,"order":779},[2396,596,2397,2534,2535],"现金","企业家",{"title":781,"slug":782,"category":676,"tags":2537,"type":694,"volume":9,"order":784},[2493,2492,2494,2495,70],{"title":786,"slug":787,"category":676,"tags":2539,"type":694,"volume":9,"order":789},[2516,2515,2451,2540,2535],"韧性",{"title":791,"slug":792,"category":676,"tags":2542,"type":694,"volume":9,"order":794},[2543,2384,181,2544,141],"季克良","质量文化",{"title":796,"slug":797,"category":676,"tags":2546,"type":694,"volume":9,"order":799},[2504,2503,2456,2505,2535],{"title":801,"slug":802,"category":676,"tags":2548,"type":805,"volume":9,"order":804},[2549,1462,70,135,2470],"公司清单",{"title":807,"slug":808,"category":676,"tags":2551,"type":805,"volume":9,"order":810},[2552,1462,2535,58,2483],"人物清单",{"title":812,"slug":813,"category":676,"tags":2554,"type":805,"volume":9,"order":815},[2555,1462,33,70,2470],"重估案例",1791623726422]