August 2, 2013 — Approximately $15 Billion (collectively) is invested each year purely on “market research” by various private or public corporations so they can, in part, take the pulse of their market –– analyze consumer trends and what they’ll likely purchase in the near & distant future. That expenditure covers existing and new products/services being developed as well as each company’s sales & advertising formulas/practices etc.
So here’s the Scoop: These corporations do this research yearly because most of them understand with unwavering clarity that change is inevitable and that competition, consumers and market conditions bring about those changes –– and anyone in business who ignores that reality and does not adjust is creating their own business demise!
One great example of a failure to analyze market conditions, trends, etc. and accept the predictable was none other than Henry Ford, founder of the Ford Motor Company. Although he truly changed millions of people’s lives with his original cars & business model, sadly Ford clung far too long to an era that passed right before his eyes.
In fact Mr. Ford almost lost everything he had created (wealth, business, etc.) because of his stubbornness and outright refusal to keep up with market demands. For nearly 20 years he stood steadfast, building and selling his black colored Model T while his competitors were developing all sorts of bells & whistles with the new cars, models & colors they produced while selling ‘truck-loads’ to the public across the nation.
Indeed it also took good old Mr. Ford nearly 30 years to realize that offering a financing component for his buyers was a good idea, and while his competition did so he stood idly by and watched many of his thousands of sales centers (dealerships) go bankrupt, close down or just drop the Ford line and go with Henry’s competitors.
Obviously the Ford Motor Company finally came about and had a road-to-Damascus moment but before that happened the company lost millions of dollars (when millions was big bucks) each year while thousands of his employees and those associated with Ford became unemployed and the company’s market share eroded exponentially.
I bring this all up because once again I want to remind all industry personnel — especially those in sales and marketing — that there are market trends, changes and conditions going on right before your eyes that are affecting our industry.
And the ‘working stiffs’ who plan on being around and prospering for many years to come need to work with a progressive developer whose business model and plan is adjusting to current and future market conditions, consumer demands, trends and needs.
Sadly, that is a rather limited choice as a number of timeshare developers around the world are forever stuck in their old ways, and even though they are losing millions in revenue each year from their antiquated business practices –– like Henry did –– those at the helm are still doing just fine (financially) and the status quo ‘is’ what it ‘is’!
I’m often asked (via e-mail) — especially by those new to the industry –– what developer/company is the best to work for or which ones are the worst. As a matter of personal choice I never respond (or name) that one developer is better or worse than another, although I do provide some guidelines.
What I will say today is that when it all crashes those ‘old-way’ developers will go quietly and quickly off to enjoy their golden years somewhere for the rest of their lives, leaving many of those who contributed to their wealth holding an empty bag and a very gloomy future in ‘the biz’ because there will be ‘no room at the Inn’ for them, so to speak.
Good luck out there!
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Contributing sometimes extravagant, bombastic, emotional, pompous or even pretentious writings about the timeshare industry, Scoop covers an array of industry related subjects each week including inside information, tips, scandals, interviews, forecasts as well as new (good or bad) products and services--- and, of course, all the 'Good', the 'Bad' and the 'Ugly'.
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