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Digg it UP - Wife's Marketing Prowess Helped Edison See the Light
Sometimes I use games theory to help the owners of small businesses gain an insight into business behaviour.Often they start by denying any games are invovled and we always have an enlightening discussion. There are three rough groups of games that I usually see played in business:Zero sum - I win, you looseThe Zero Sum game is the common situation where one player's success reduces the returns for the others. Typically this happens anywhere where people
As always it was the female head of the households who saw the benefits most evidently. “No more soot from the oil lamps means cleaner floors and therefore less of a need to wash and wax daily. Why with the extra time, I would be able to go to school and get a degree and work independently and therefore have the money I need to leave my husband,” one said.
Mrs. Edison was excited. This affordable electrical home-lighting
Global mergers and acquisitions advisers, especially, the investment bankers are doing extremely well consummating trillions of dollars in deals as a result of cheap debts, ambitious company executives and desire for expansion (Financial Times [FT], 12/21/2006). Deals announced in 2006 have outpaced those consummated in 2000 by over 16% totaling $3,900 billion. According to statistics from Dealogic and reported by the FT, the top ten investment bankers including Goldman Sachs, Citig
Tom said. “I call it an affordable electrical home-lighting device.”
“Great,” she responded, “with a name like that it will sit on the shelf at the patent office. We will just add it to the other money-losing patents you have conceived.”
“How will people know what it does? She asked sarcastically, “From its name? You need a short catchy description that customers (yes, even in the 1880s they were already called customers) will immediately identify with.”
This time Tom listened. The English inventor, Sir Joseph Swan, his arch rival, was ready to introduce a similar device and he did not want to lose out this time.
Mrs. Edison started grilling her husband. “Why will people want to buy your affordable electrical home-lighting device?” “Well, it has the incandescence of 81 candles or 2.3 gas-burning lamps.” he proudly answered.
“Tom, I keep on telling you that those are features. Customers don’t buy features; they buy benefits,” she said. “How will this device benefit people?”
“They will be able to stay up later and read more books,” he offered.
She glared at him. “Are you telling me that people will invest tens of dollars to bring wires into their houses to connect to your affordable electrical home-lighting device just to be able to read the latest Mark Twain novel?, she said. “I don’t think so. My research shows that only 18 percent of adults can read on an eighth-grade level.”
She decided to bring in some of her neighbors and ask them their opinions of the device (history records this as the first documented focus group). Their comments were invaluable:
“I will be able to put make-up on before school,” said the high school debutante.
A little 4-year old girl shyly whispered that she would be able sleep at night and not be afraid of the dark with an affordable electrical home-lighting device glowing in the hallway.
As always it was the female head of the households who saw the benefits most evidently. “No more soot from the oil lamps means cleaner floors and therefore less of a need to wash and wax daily. Why with the extra time, I would be able to go to school and get a degree and work independently and therefore have the money I need to leave my husband,” one said.
Mrs. Edison was excited. This affordable electrical home-lighting
I was thinking this morning about rockets, the “space race” and Customer Service Management. (I dated myself with the “space race”, didn’t I. But it really happened.) I know that the two subjects seem completely unrelated. Not even in the same Encyclopedia volume.And I submit for your consideration that driving a rocket in the space race and good Customer Service Management are exactly the same. Let me explain why.Your business is your rocket ship. In this ship is ev
“How will people know what it does? She asked sarcastically, “From its name? You need a short catchy description that customers (yes, even in the 1880s they were already called customers) will immediately identify with.”
This time Tom listened. The English inventor, Sir Joseph Swan, his arch rival, was ready to introduce a similar device and he did not want to lose out this time.
Mrs. Edison started grilling her husband. “Why will people want to buy your affordable electrical home-lighting device?” “Well, it has the incandescence of 81 candles or 2.3 gas-burning lamps.” he proudly answered.
“Tom, I keep on telling you that those are features. Customers don’t buy features; they buy benefits,” she said. “How will this device benefit people?”
“They will be able to stay up later and read more books,” he offered.
She glared at him. “Are you telling me that people will invest tens of dollars to bring wires into their houses to connect to your affordable electrical home-lighting device just to be able to read the latest Mark Twain novel?, she said. “I don’t think so. My research shows that only 18 percent of adults can read on an eighth-grade level.”
She decided to bring in some of her neighbors and ask them their opinions of the device (history records this as the first documented focus group). Their comments were invaluable:
“I will be able to put make-up on before school,” said the high school debutante.
A little 4-year old girl shyly whispered that she would be able sleep at night and not be afraid of the dark with an affordable electrical home-lighting device glowing in the hallway.
As always it was the female head of the households who saw the benefits most evidently. “No more soot from the oil lamps means cleaner floors and therefore less of a need to wash and wax daily. Why with the extra time, I would be able to go to school and get a degree and work independently and therefore have the money I need to leave my husband,” one said.
Mrs. Edison was excited. This affordable electrical home-lighting
Almost everyone who has a computer with a mouse needs a mouse mat, but many of these people already have them. If you are planning on using promotional mouse mats in your next round of advertising, then you are going to have to come up with a top notch design that beats out the competition that is already sitting on the desks of your clients, or else your promotional funds will be going down the drain.Clients always appreciate gifts, even if they are not sure that they are g
“Tom, I keep on telling you that those are features. Customers don’t buy features; they buy benefits,” she said. “How will this device benefit people?”
“They will be able to stay up later and read more books,” he offered.
She glared at him. “Are you telling me that people will invest tens of dollars to bring wires into their houses to connect to your affordable electrical home-lighting device just to be able to read the latest Mark Twain novel?, she said. “I don’t think so. My research shows that only 18 percent of adults can read on an eighth-grade level.”
She decided to bring in some of her neighbors and ask them their opinions of the device (history records this as the first documented focus group). Their comments were invaluable:
“I will be able to put make-up on before school,” said the high school debutante.
A little 4-year old girl shyly whispered that she would be able sleep at night and not be afraid of the dark with an affordable electrical home-lighting device glowing in the hallway.
As always it was the female head of the households who saw the benefits most evidently. “No more soot from the oil lamps means cleaner floors and therefore less of a need to wash and wax daily. Why with the extra time, I would be able to go to school and get a degree and work independently and therefore have the money I need to leave my husband,” one said.
Mrs. Edison was excited. This affordable electrical home-lighting
Managers and Leaders – Are They Synonyms?A manager is the person in charge of commanding and running a business or a project. Leadership deals with the interpersonal relations. Managing means planning, developing and organizing. In the contemporary society leadership qualities along with managing abilities are a must.One thing is so far clear: a leader is not a ruler or a despot. His role is to guide, to inspire, to communicate, to build trust and to direct toward the
She decided to bring in some of her neighbors and ask them their opinions of the device (history records this as the first documented focus group). Their comments were invaluable:
“I will be able to put make-up on before school,” said the high school debutante.
A little 4-year old girl shyly whispered that she would be able sleep at night and not be afraid of the dark with an affordable electrical home-lighting device glowing in the hallway.
As always it was the female head of the households who saw the benefits most evidently. “No more soot from the oil lamps means cleaner floors and therefore less of a need to wash and wax daily. Why with the extra time, I would be able to go to school and get a degree and work independently and therefore have the money I need to leave my husband,” one said.
Mrs. Edison was excited. This affordable electrical home-lighting
I always find it sad when I bump into someone and find out that they just lost their job. That is always unsettling. I can't help but empathize with their situation. However, what I don't get are the folks that tell me there is nothing out there. Nothing out there for whom? Are they truly out there looking for business opportunity leads, or have they just given up? You see, when it comes to searching for jobs and gigs, the entire market has changed.Have you evolved with the t
As always it was the female head of the households who saw the benefits most evidently. “No more soot from the oil lamps means cleaner floors and therefore less of a need to wash and wax daily. Why with the extra time, I would be able to go to school and get a degree and work independently and therefore have the money I need to leave my husband,” one said.
Mrs. Edison was excited. This affordable electrical home-lighting device could finally make her husband an entrepreneurial success. However the focus group balked at the name. No way could they see themselves walking into one of those new Woolworth five-and-dime stores and asking for a dozen affordable electrical home-lighting devices.
Mrs. Edison would not let them leave. “So what would you call it?,” she asked in desperation.
The responses were flying, “How about a non-candle lighting device” or a “Man-made bumble bee, or a ...”
The little 4-year-old girl said it looked like her dad’s bald head. He had started shaving his entire head for some unknown reason, and it gave off lots of light. Why not call it a bald light or a light bald?
People stared nodding. They said the name was different and it would create a lot of buzz. They could see people walking into a store and asking for a box of light balds People stared nodding. They said the name was different and it would create a lot of buzz. They could see people walking into a store and asking for a box of light balds.
So the obvious question is: “How did light balds become what are today universally known as light bulbs?”
Beats me.
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