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Interesting post today from Marc Andreeson for all of you new or expectant parents out there. Turns out there's some new research that shows you may want to be a little careful when you throw you kid in a jolly jumper and turn on Barney. A lot of these programs that are billed as educational and enhance the development of children, may actually harm them.
(Now I love my parents and all, but if this is the reason I never understood Calculus, I'll be pissed...:)
I've been thinking a lot lately about new product development. Whether that product is physical, digital, or even a service doesn't matter - just the basic principles that apply in the market for those products, and how they get priced. Most organizations face pricing pressure downward as their offerings become commoditized, and consumers get more efficient in their evaluation of those offerings. But a select few have found the holy grail - the ability to actually increase the demand for something as the price goes up.
Today I read a post from Roger Ehrenberg that got me to dust off my old Economics textbook to look up terms like: conspicuous consumption, Giffen Goods, Veblen Goods, etc.
The formula for this type of effect is often obvious in hindsight:
a) create an air of exclusivity, and
b) personalize
....just not so obvious looking forward. How could your product be created if you applied some of these principles?
Anyway, just food for thought on a Friday morning. That's enough of the dismal science for one day...:)
Beer fest, here I come.
