Mattel Inc. is the world’s largest toy manufacturer and employes 31 thousand people, earns sales of nearly $6 billion of which nearly half comes from international markets. The company is most famous for annually producing 100 million of the worlds most popular doll, Barbie.
An old blind man was sitting on a busy corner in the rush-hour begging for money. On a cardboard sign, next to an empty tin cup, he had written: ‘Blind - Please help’. No-one was giving him any money. A young advertising executive walked past and saw the blind man with his sign and empty cup.
People buy from people, but not just any random person. After all, we can get the widget we need from any number of stores, but we go back to a particular one because of the power of story. The story of the brand, the story of experience, the story we share with the retail clerk.
With July in full swing and budgets for 2012/13 handed down, I would say to avoid the temptation of getting back and ‘stuck into it’. Don’t just do something, stand there. At least for a minute to consider, take stock, regroup and then deploy with effectiveness.
Have you ever walked into a grocery store with 5 items on your list, only to walk out with 15 in your basket? It happens to the best of us, whether driving out of a car yard with a new vehicle and wondering ‘how did that happen’, or walking away from a negotiation with the opposite outcome to your planned intent.
‘Women spend more money on impulse purchases than men’, or so we once thought. A number of recent studies from right around the world have flipped this sexist and stereotypical notion on its head.
A successful business is one that is supported by its customers because it meets a need, however needs are determined by geography, culture, ethnicity and language. A success here doesn’t necessarily mean success everywhere or indeed anywhere else.