Wednesday, February 6, 2008
Pottery Barn
I agree with what most of the article said. However, it made it seem like all it takes to create a successful business is one person with good ideas. The article says, "At Pottery Barn, there are no panels of focus groups and no teams of market researchers. To create a powerful lifestyle brand, Tejada says, you must first have a life. And the consequences of dodging one's responsibility to eat, drink, and merry can be severe. "I tell my team, 'You will not get promoted or rewarded for working 20 hours a day,'" she says, her voice firm as a headmistress addressing an unruly class." She says that there are no market researchers of panels of focus groups, and that she encourages her staff to go to restaurants and other places to observe. Although that may be somewhat different from more traditional market researchers, that is market research and is how they create products that people want to buy. The people who run Pottery Barn and other similar stores know how to get people to buy their product, and have even tried to appeal to other audiences such as children and teens. If they can make it seem like what they're selling is the best, people will buy it even if it is overpriced. As the article says, "But while customers may be reluctant to pull the trigger for a $1,400 red-leather club chair, no matter how delicious, they're still willing to spring for a $34 flowered pillow of pay $42 for a great set of wineglasses." Young and affluent people, such as the recently married lawyer and marketing director, are willing to spend whatever is necessary to get what they see as the perfect product.
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