Ken Uchikura Newsletter Vol. 47
10/24/2019
Business 101
When you started learning about business, what did you learn? The first thing that I learned was to “find needs and fill them”. So the task becomes to find what people want. A lot of the time people, including myself, mistake what consumers want with what you want to sell. I often need to take a step back and think - do people really want this?
It then gets more complicated when you add resellers into the mix. Our company sells 80% of our services through our resellers. So, you have to think about both what the consumers wants and what our resellers want. A lot of the time what resellers want is different from what the consumers wants.
I often face this problem when we create a product for consumers and present it to resellers. They take the product and start selling it as if it was for a different purpose than originally intended. Resellers want to sell what is easy to describe and explain to their customers. That often differs from what your product was designed to do.
I think it is our job to explain what our product’s purpose is. If the market wants a different product, then we really need to rethink what we have built. In the end, the products we make must be intended for the consumers. Find needs and fill them.
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PSPinc In-house demonstration!We can customize buttons.
This is the first time that our sales and support people looked at the new feature of the Opinion Stand. Soon, people can change the icons you see on the screen. It can be simples starts to thumbs up or down. Or if your organization have a mascot we can turn your mascot into a button.
I bought 8TB Costco Hard Disk Drive today TO COST FOR $166 + TAX.
When we started our data center, I do not think we had 8TB of disk space at the data center.
It is amazing.
Veblen Effect
When people are asked to choose between similar items A and B, people prefer whichever has the higher price. So the very idea that your price must be lower than your competitor to compete with them is wrong. It is not your job to make your price lower, your job is to make sure your product has better value. The value may not have anything to do with the product itself.
One way is to come up with a better product name. Here are some examples of name changes. You may or may not know the original names of these companies, but you likely know their current names on the right. They have changed nothing about their products, but the name change made them what they are now.
It may be time to change my company’s name.
ZimRide -> Lyft
Backrub -> Google
Software Development Labs -> Oracle
AuctionWeb -> eBay
Price Waterhouse Coopers -> Bearing Point
Oak (Software) and Green before that! -> Java
Sound Around -> Walkman
Cellular One -> Cingular
Mosaic Systems -> Netscape
Fashion 21 -> Forever 21
Radar Oven -> Microwave Oven
Michael Kors -> Capri Holdings
Priceline -> Booking Holdings
WeWork -> We Corporation
Coach -> Tapestry
WeightWatchers -> WW
Salton Cooker -> George Foreman’s Lean Mean Fat Reducing Grilling Machine
Wards -> Circuit City
Blue Ribbon Sports -> Nike
Firebird -> Firefox
Confinity -> Paypal
Jerry’s Guide to the World Wide Web -> Yahoo
Il Giornale Coffee Company -> Starbucks
Abnormal market behavior where consumers purchase the higher-priced goods whereas similar low-priced (but not identical) substitutes are available. It is caused either by the belief that higher price means higher quality, or by the desire for conspicuous consumption (to be seen as buying an expensive, prestige item). Named after its discoverer, the US social-critic Thorstein Bunde Veblen (1857-1929).
We have the videos to show you how Opinion Sand can work for you. https://www.opinionstand.com
Please ask us for demo.
Video 1
Video 2
Video 3
OpinionStand is a product and service of PSPinc
Please contact PSPinc for more detail.
Toll Free in the US 1-800-232-3989 or 425-957-0808
info@pspinc.com
Beautiful Sunset Neat Incjeon Korea
My house nd office for next few days.
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