For the past several years, young people have fallen out of the habit of wearing a wristwatch. After all, who needs a wristwatch when you have a cell phone? Most young, tech-savvy people prefer to simply use their smart phones as their time pieces, without strapping an additional item on to their wrist. But according…

According to a recent article in the Wall Street Journal (“The Return of the Class System”), several cruise lines have been making an effort to hold on to some of their biggest-spending customers and getting them to spend more – by revamping some aspects of a traditional cruise and offering a  more exclusive experience. Cruise lines…

The U.S. manufacturing industry has long been a poster child for recession, “offshoring,” job losses, and a changing way of life for the middle class. Manufacturing is one of the industries that has been hardest hit by the recent economic downturn as jobs move to countries like China that have lower labor costs. And yet,…

What message is your marketing really sending? Is your company’s advertising consistent with your brand, or are you misleading your customers? Companies often send out marketing messages that are less than truthful – at best, they are missing an opportunity to clarify what their brand really stands for. At worst, they are actively deceiving their…

A recent article in the Wall Street Journal (“Wal-Mart Tries to Recapture Mr. Sam’s Winning Formula” – subscription required) highlights the struggles of Wal-Mart, America’s largest retailer, which recently announced its second annual decline in U.S. same-store sales. While Wal-Mart was widely expected to be one of the “winners” of the Great Recession, as customers became more…

A recent article in the Wall Street Journal (“Hollywood: The Price is Wrong” ) highlights the growing difficulties that movie studios are facing in making a profit from home movie rentals.  DVD sales have long been one of Hollywood’s most profitable ways of selling movies – it costs less than a dollar to print a DVD,…

We’ve written before that companies need to be careful when offering deep discounts through group buying sites like Groupon – but the story of Groupon itself presents some interesting lessons for companies. Groupon has become one of the most popular and well-funded group buying sites, offering daily deals from local businesses in 150 cities, 3,000 employees,…

One of the biggest trends right now is the “group buying” site – Groupon, Livingsocial.com, Couptessa and other discount sites where companies offer jaw-dropping discounts to a certain number of pre-determined group coupon buyers. Sites like Groupon are often a good deal for consumers, but the results can be a mixed bag for the businesses that give the discounts….

Southwest Airlines has been one of the few big success stories of the American airline business. While other airlines constantly lose money, go bankrupt, and disappear, Southwest Airlines is consistently profitable, with a great reputation for low fares, on-time flights, friendly service and a fun-loving culture. The regional airline that started out offering flights between…

A Thriving Travel Business – In a “Down” Economy? There’s no question about it, 2010 has been a challenging year for many businesses, particularly for those in the travel and tourism industry.  In an economic slump, the “extras” are the first things to go – fancy dinners out on the town, lavish gifts and extravagant…