If the brand name has become a household name, this phenomenon can have both positive sides and negative sides. On the one hand, consumers begin to correlate the name of the company with a certain group of products. Another aspect of such a transition from the brand name to the name of a specific product is that over time the brand will lose its copyright and any company producing one or another type of product will be able to use it.
Perhaps many people know that the word “Xerox” was originally the name of a company that produces photocopiers. Now we perceive it not as the name of the company, but as a designation for a group of products. But the Xerox company is not the only one who managed to turn the brand in the minds of people into a very specific product. Continue reading
Roy Raymond, being a loving husband, decided to pamper his wife with a gift – a new set of women’s underwear. Going alone to the store, Roy was simply confused among the huge number of options that sellers offered him. Not many of them knew how to work with male buyers, and Roy felt very uncomfortable in all this “female kingdom” of underwear. He never managed to pick up a gift, however, an idea arose in his head that became fateful for Raymond. It was the idea of opening her own lingerie store, in which both women and men would feel equally comfortable.
To implement the idea needed 80 thousand dollars. Roy borrowed half this amount from friends, half at the bank at interest. Continue reading
Robert Taylor and Liquid Soap
In the 1970s, there was such an American entrepreneur who invented liquid soap and sold it with the help of his small business. However, the invention was not patented, since the idea itself was not fundamentally new. And the pump mechanism, without which the use of liquid soap would be difficult, was also invented a very long time ago. Taylor understood that if large manufacturers of household chemicals began to mass-produce liquid soap in dispensers, then the small business would not see any prospects for its development.
And then the resourceful entrepreneur decided simply not to give other manufacturers the opportunity to get the coveted plastic dispensing pumps that are attached to bottles with liquid soap. Continue reading