5 Feb 2014 09:00:38 AM
“We also do cut-glass sherry decanters complete with six glasses on a silver-plated tray that your butler can serve you drinks on, all for £4.95. People say, ‘How can you sell this for such a low price?’ I say, ‘Because it’s total crap!’”
These were the famous words of business mogul Gerald Ratner at a 1991 institute of directors meeting. At the time he was the self-made owner of one of the world’s richest jewellery companies. By 1992 he had been deposed by his board of directors and the firm had all but collapsed.
Branding and image are everything in business; the quality of the product is second to the perception of that product. Ratner knew this only too well; he had built his entire business model on observations he had made as a boy in London’s street markets. It wasn’t the stall owners with the juiciest fruit and the freshest fish that dominated the sales; it was the ones with the loudest voices and the most tempting offers, the charming patter and the natural rapport. Yet in his folly he insulted not only his own products but the people who bought them. He laughed in the faces of those who made him rich and expected them to carry on filling his pockets. He thought he could play them for fools forever, but the man in the street is not so easily mocked and very soon Ratner was doomed.
Dana White’s words after UFC 169 and after a number of recent events brought this cautionary tale clearly to mind. Alistair Overeem’s clinical and ruthless domination of former champion Frank Mir led to a lopsided and well deserved decision win. He out struck Mir 139-5 in total strikes and 67-3 in significant strikes. When asked his opinion at the post-fight scrum White described the performance as ‘crappy.’ Not quite ‘total crap’ but well on the way.Read More DIGG THIS