Recently, a commentator for Financial Times wrote that “luxury is scarcity.” The reporter referred to issues concerning the German wine industry and the German car industry. Apparently, German wines no longer have a cachet. One of the reasons is the expansion of its varietals. Quantity over quality. As for the German automotive manufacturers, Mercedes is excising its entry-level brands to focus on its more expensive, more luxurious models, in other words, fewer luxury vehicles. On...
In 1993, newly minted IBM CEO, Lou Gerstner, when asked about his vision for the company, replied that IBM was in a mess and he did not have the time now to indulge in vague forecasts. The press reacted poorly. Descriptions of Mr. Gerstner’s vision for IBM would be helpful for quarterly guidance. The press was not asking for a futuristic, vaguely mystifying, inspirational message. They were looking for visionary guidance to better understand where...
What goes around, comes around. From the beginning of advertising, expert testimony was the way to sell a brand. From the remarkable RJ Reynolds cigarette ads that touted that Doctors recommend Camels, to the ADA seal of approval on Crest toothpaste (Look Ma, no cavities!), to Ronald Reagan and GE, to TV star Mariette Hartley selling Polaroid cameras, to today with Marie Osmond and Oprah Winfrey confirming their weight loss results with Nutrisystem and Weight...
In a recent Wall Street Journal interview with Brian Cheskey, CEO and a founder of Airbnb, reporter Preetika Rana discussed the way in which Airbnb survived during the pandemic and is now flourishing. Although there were several financial measures that Airbnb employed to sustain itself during the crisis of Covid lockdowns and quarantines, one of the most important Airbnb strategies was to leverage the power of localization.
In 2013, Pharrell Williams had a huge hit song called Happy. That song played everywhere. Happiness was all around us.
