It’s futile trying to change minds in the marketplace. For example:
*Xerox lost hundreds of millions of dollars trying to convince the market that Xerox machines that didn’t make copies were worth the money. No one would buy their computers. But they still buy their copiers.
*Volkswagen’s share price dropped over 60 points when they tried to convince the market the VW wasn’t just a small, reliable, economical car like the Beetle. No one bought their big, fast cars. They brought back the Beetle and people ﬂocked to buy them.
*Coca-Cola blew both prestige and money in an effort to convince the market they had a better thing than ‘‘the real thing.’’ No one bought their New Coke. But their Classic version sells as well as ever.
When the market makes up its mind about a product, there’s no changing that mind.
As John Kenneth Galbraith once said, ‘‘Faced with the choice between changing one’s mind and proving that there is no need to do so, almost everyone gets busy on the proof.’’
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