Arguably the smartest business word ever uttered, and adopted into the business vocabulary, is “contingency.” The dictionary defines contingency as “A future event or circumstance that is possible but cannot be predicted with certainty.” Doesn’t that apply to just about every aspect of strategy in any sector? Nothing can be predicted with certainty and nothing […]
A lot of times we like to lay more blame at the feet of ad agencies than they deserve. You may recall from how snarky I get around Super Bowl season each year that I’m as guilty of this as anyone. Revisit some of those musings here if you like. I think it’s worth noting that the advertisement is […]
“Customers tend to avoid a restaurant that’s going aswamp in its own sludge.” McDonald’s Ray Kroc used to tell his franchisees and managers. He demanded that each restaurant, especially the restrooms, be spic and span, and he would totally flip out if he walked into one of his restaurants and found it anything less than spotless. If […]
Something McDonald’s is considering as part of it’s retooling in order to reboot profitable growth is serving breakfast all day. I think this is a good idea for a couple of reasons. The most important is that it’s in response to what customers want. McDonald’s does a tremendous breakfast business, and there have been ongoing requests from customers […]
McDonald’s has gone through its share of ups and downs in its history that now spans nearly 80 years. They always seem to weather whatever storm they face, and as a shareholder, I’ve got faith that they’ll eventually get back on track. And I don’t just feel confident about their stock price because my kid […]
One very useful tool we have to help understand how consumers make decisions is the 5 stage consumer decision-making model. The model proclaims there are 5 specific steps consumers go through in every decision they make. The steps, in order, are: Problem/Need Recognition Information Search Evaluation of Alternatives Purchase Decision Post-Purchase Evaluation The developers of the theory go on […]
Yeah, I know this is mostly a “business” BLOG. But you also recall that I passionately believe that business has the opportunity to BE an inspiration to the world it serves. Plus, ’cause we all know it ain’t easy, sometimes just a little surprise inspiration can be a very beneficial thing. So with that in […]
First, let me point out that I have LOVED Mad Men since discovering this television masterpiece back in 2007. Set in the 60s, it was a great tribute to that era and also a very aptly done salute to advertising’s contributions to popular culture while also pointing out how tough the whole creative process has […]
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