Heavy Lifting - thoughts and web finds by an economist
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Monday, January 22, 2007
I am reading David Brooks's "BOBOS in Paradise" and it's a bit of an eye-opener. Part of his take on modern consumption habits is that brand identity means a bit more than quality or practicality because the BOBOS (bohemian bourgeoisie) have plenty of money to overcome any "mistake" purchases.
From today's AdvertisingAge is another indication that Brook might be onto something:
Motorola stock recently fell 12% after the company warned of disappointing holiday sales. "The trend-setting Razr has lost its buzz in the marketplace," reported the Associated Press, "and Motorola's efforts to come up with a new killer product have so far not paid off." Like many companies, Motorola has focused its efforts on building better products, not on building better brands.
When focusing on building better products will cause your stock to fall 12% we might be in trouble. On the other hand, my brother's RAZR is falling apart, so maybe poor quality (regardless of attempts to remedy the problem) is all that is going on here. While the article is perhaps a bit self-serving of the marketing angle (considering the source of the story), the language is a bit weird.
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