Archive for ‘Money’

February 19, 2018

George Foreman Grill

Foreman Grill

The George Foreman Lean Mean Fat-Reducing Grilling Machine, commonly known as the George Foreman Grill, is an indoor, electrically heated grill manufactured by Spectrum Brands. It is promoted by former boxing champion George Foreman. Since its introduction in 1994, over 100 million George Foreman grills have been sold worldwide.

The Lean Mean Fat-Reducing Grilling Machine, as it became known, was introduced in 1994 and promoted with distinctive infomercials which featured Foreman. A combination of his affable personality and the unique features of the product made it a huge success. Such was the popularity of these infomercials that Foreman’s famous tagline, ‘It’s so good I put my name on it!,’ is now part of popular culture. In Asia, the grill is endorsed and promoted by both George Foreman and Jackie Chan.

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February 10, 2018

Mafia State

oligarch

The term mafia state is a political buzzword to describe a system of government that is tied to organized crime, such as when government officials, police, and/or military take part in illicit enterprises. The term mafia is a reference to any organized crime groups strongly connected with the authorities.

According to US diplomats, a former officer of the Russian FSB secret service who specialized in organized crime, Alexander Litvinenko, coined the phrase ‘Mafia state.’ Both the Italian mafia and Japanese Yakuza have have, at times, established a close and friendly relationships with their respective governments.  Scholar of Law and Economics Edgardo Buscaglia describes the political system of Mexico as a ‘Mafiacracy.’ Buscaglia characterizes the condition between the state, the economy and organized crime in Mexico as a mutual interweaving.

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November 28, 2017

Retail Apocalypse

The retail apocalypse refers to the closing of a large number of American retail stores beginning in 2016. Over 4,000 physical stores are affected as American consumers shift their purchasing habits due to various factors, including the rise of e-commerce.

Major department stores such as J.C. Penney and Macy’s have announced hundreds of store closures, and well-known apparel brands such as J. Crew and Ralph Lauren are struggling with profitability. Of the 1,200 shopping malls across the US, 50% are expected to close by 2023.

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August 18, 2017

Virtue Signalling

Slacktivism

Virtue signalling is the conspicuous expression of moral values done primarily with the intent of enhancing standing within a social group. The concept arose in signalling theory (the study of intraspecies communication), to describe any behavior that could be used to signal virtue—especially piety among the religious.

Since 2015, the term has become more commonly used as a pejorative characterization by commentators to criticize what they regard as the platitudinous, empty, or superficial support of certain political views, and also used within groups to criticize their own members for valuing outward appearance over substantive action. This more recent usage of the term has been criticized for misusing the concept of signalling and encouraging lazy thinking.

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July 13, 2017

Herman Miller

Action Office

Herman Miller, Inc., based in Zeeland, Michigan, is a major American manufacturer of office furniture, equipment and home furnishings. It is notable as one of the first companies to produce modern furniture and, under the guidance of Design Director George Nelson, is likely the most prolific and influential producer of furniture of the modernist style. Among classic Herman Miller products are the Equa chair, Aeron chair, Noguchi table, Marshmallow sofa, and the Eames Lounge Chair.

Herman Miller is credited with the invention of the office cubicle (originally known as the ‘Action Office II’) in 1968 under then-director of research Robert Propst. Herman Miller holds a unique position among furniture manufacturers for having cultivated the talents of a large number of modernist designers, producing a significant number of pieces that are now considered icons of industrial design.

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June 26, 2017

Charles and Ray Eames

Eames Aluminum Group

Charles (1907–1978) and Ray Eames (1912–1988) were husband and wife American designers who made significant historical contributions to the development of modern architecture and furniture. Among their most well-known designs is the ‘Eames Lounge Chair.’ They also worked in the fields of industrial and graphic design, fine art, and film.

Charles was an American designer, architect and filmmaker. He and his second wife Ray Kaiser are responsible for groundbreaking contributions in the field of architecture, furniture design, industrial design, manufacturing and the photographic arts.

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June 20, 2017

His Master’s Voice

nipper

His Master’s Voice (HMV) is a famous trademark in the music and recording industry and was for many years the unofficial name of a large British record label. The name was coined in the 1890s as the title of a painting by English artist Francis Barraud of a dog named ‘Nipper,’ listening to a wind-up gramophone. In the original painting, the dog was listening to a cylinder phonograph. In the 1970s, a bronze statue of the dog and gramophone was awarded by the record company (EMI) to artists and or music producers and or composers as a Music Award and often only after selling more than 100,000 LP’s.

The original painting was acquired from the original artist in 1899 by the newly formed Gramophone Company and adopted by the Victor Talking Machine Company in the United States. According to contemporary Gramophone Company publicity material, the dog, a terrier, had originally belonged to Francis Barraud’s brother, Mark. When Mark Barraud died, Francis inherited Nipper, with a cylinder phonograph and recordings of Mark’s voice. Francis noted the peculiar interest that the dog took in the recorded voice of his late master emanating from the horn, and conceived the idea of committing the scene to canvas.

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May 31, 2017

Pop-up Retail

kith

Pop-up retail, also known as pop-up stores or shops or flash retailing, is a trend of opening short-term sales spaces that started in Los Angeles and are now found all over the United States, Canada, China, Japan, Mexico, France, Germany, the United Kingdom, and Australia.

Temporary retail establishments date at least to the Vienna December market in 1298 and the European Christmas markets that followed. Seasonal farmer’s markets, holiday fireworks stands, Halloween costume shops, and consumer expos are other examples of temporary retailing.

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May 24, 2017

Product Naming

rose by any other name

Product naming is the discipline of deciding what a product will be called, and is very similar in concept and approach to the process of deciding on a name for a company or organization. Product naming is considered a critical part of the branding process, which includes all of the marketing activities that affect the brand image, such as positioning (the place that a brand occupies in the mind of the customer) and the design of logos, packaging, and the product itself.

The process involved in product naming can take months or years to complete. Some key steps include specifying the objectives of the branding, developing the product name itself, evaluating names through target market testing and focus groups, choosing a final product name, and finally identifying it as a trademark for protection.

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February 28, 2017

Loyalty Business Model

loyalty card

Net Promoter

The loyalty business model is a business model used in strategic management in which company resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed.

Customers are said to have a ‘zone of tolerance’ corresponding to a range of service quality between ‘barely adequate’ and ‘exceptional.’ A single disappointing experience may not significantly reduce the strength of the business relationship if the customer’s overall perception of quality remains high, if switching costs are high, if there are few satisfactory alternatives, if they are committed to the relationship, and if there are bonds keeping them in the relationship.

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February 16, 2017

David Ogilvy

david ogilvy by lars leetaru

David Ogilvy (1911 – 1999) was an advertising tycoon, founder of Ogilvy & Mather, and known as the father of advertising. Trained at the Gallup research organisation, he attributed the success of his campaigns to meticulous research into consumer habits.

His best-selling book ‘Confessions of an Advertising Man’ is one of the most popular and famous books on advertising, and there is a strong suspicion that Ogilvy is the inspiration for the suave creative director ‘Don Draper’ in the TV series ‘Mad Men.’

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January 19, 2017

Jorg Gray

JG6500

Jorg Gray is a California-based brand of men’s and women’s watches. They are best known as the favored watch of U.S. President Barack Obama and the U.S. Secret Service. Jorg Gray was established as a watch line in 1998 by Logomark, Inc. based in Tustin, California. Originally Jorg Gray timepieces were manufactured as a high end promotional item for corporations and federal agencies. Jorg Gray became a retail only brand in 2009. The company has since expanded their line and launched a women’s collection in late 2013. There are currently over 250 authorized dealers the U.S. and the brand can be found in retail stores in Asia, Europe, the Caribbean, and South America.

President Obama received his original JG6500, the ‘official’ model of the Secret Service in 2007 as a birthday gift from his security team and has been documented wearing it. Shortly thereafter Jorg Gray created a commemorative edition of the timepiece. Each watch comes with an individualized serial number and an inscription, laser engraved on the case back. Other government agencies around the world, including the London Metropolitan Police, now also wear watches made by Jorg Gray.

 

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