So many companies are competing with each other these days that the underdog has to always come up with a strategy to rise up. That’s what the popular lip balm manufacturer EOS did to grab its placement above providers like Chapstick and Blistex. The company foresees a cash-filled future that consists of more than $2 billion in earnings by 2020. According to Fast Company, the big secret of how it knocked companies like Blistex and Chapstick down was a little trick called expectation.
Every consumer expects something when he or she purchases a product. The customer expects the product to affect him or her in a way that will create relief or some type of pleasure. A disgruntled customer is born when the product does not meet those expectations. A loyal customer is born when it does. Loyal customers give referrals, and business gets wild before the company even knows what happened. EOS lip balm experienced such a situation.
The expectation when one buys a tiny cylinder of Chapstick is an expectation of eliminating dry lips. Chapstick primarily created the product to do that and do it well. EOS created its product to please every one of the customer’s senses. EOS lip balm shoppers have huge expectations when they buy it, and then they keep buying it because it continues to meet those huge expectations.
An EOS customer expects to feel an ergonomic and rounded container that is fun to use. She expects the application to produce a potently delicious rush of juices make her mouth water as soon as the balm touches her lips. She expects herself and her friends to believe that her container of liquid is the coolest looking thing on the Racked market. Having those expectations met repeatedly is probably the reason that the registers never stop ringing with the EOS lip balm.
Product Link: https://www.walmart.com/ip/Eos-Sweet-Mint-Lip-Balm-0.25-oz/15136069
Warren Buffet has recently grabbed the headlines by betting $1 million for a charity cause based on his ability to make better investment returns than an elite team of hedge fund managers. By funding in the S&P 500 passive index stock, Mr. Buffet believes he can pull off such a remarkable feat compared to the seasoned hedge fund managers.
Upon closer analysis, Mr. Buffet couldn’t be further from the truth. The current crop of investors is highly prone to exorbitant charges and mediocre in worst case scenario. Tim Armour, who happens to be a huge fan of Buffet, highly praises his commitment to simple investments and low costs which should be held on a long-term basis. Mr. Buffet’s approach to investment in a bottom-up approach has proven to be an enormous success over the years, courtesy of its ability to build great portfolios within an ever-changing economy. Based on his invaluable experience and excellent track record, Buffet is of the opinion that Americans should embrace the culture of saving sooner rather than later.
Follow Tim Armour on LinkedIn
Apart from Buffet’s highly sought after advice, Armour also lends his perspective on the matter based on forces of demand and supply within the market. According to Armour, consumers should exercise caution on product labels before making any purchases. Such a basic guideline can determine whether a product can ensure your safety in the long run.
Tim Armour’s Appointment As Chairman Of Capital Group
As of July 2015, Capital Group’s Board of Directors elected Tim Armour as its newest Chairman based on unanimous support for his unwavering dedication to success. As Chairman, he is tasked with coordinating with senior officials comprising of Phil de Toledo and Rob Lovelace in the achievement of company goals and objectives.
Armour’s Education and Work Background
Before his appointment, Armour’s notable appointments include Independent Chairman of AQR Funds’ board of trustees, interim CEO of the company between 2008 and 2009. He is an alumnus of Gettysburg College with a Bachelor’s degree in Arts and an M.B.A from Columbia University.
For more information, just click here.
Dick DeVos was born on 21 October 1955 in Michigan, United States. He is the eldest son of Richard DeVos who is a successful businessman and co-founder of Amway which operates a global sales network that supplies products for health, personal care, and household. Dick DeVos started working at Amway in 1974. In the year 1984, he was promoted to Vice President. He successfully managed operations of the company in almost twenty countries. Five years later in 1989, he founded his company The Windquest Group which manufactures and markets storage and closet organizations. Two years later, his family bought the franchise of Orlando Magic and Dick became its manager. In 1993, he returned to Amway as the President. After one year, Dick founded Alticor which was an umbrella company consisting of a few companies including Amway. Dick is totally focused on The Windquest Group since 2002.
Dick DeVos and his wife (Betsy) are a philanthropist by nature. They have donated one-hundred-and-thirty-nine million dollars to different institutions and causes. In 1989, the couple founded Dick and Betsy DeVos Family Foundation to begin their philanthropy career formally. Dick has donated five times the amount Betsy has used in her election campaigns between 2010 to 2015. The family has the twenty-fourth spot on 2015 Forbes list of “America’s Top Givers.” They have donated almost twenty-five percent of their entire money during their lifetime.
Dick DeVos has given three percent of his annual donations to groups working for reforms in education. He said in an interview that the fulfillment of American dream is not possible with this education system because it is increasing the problem of civil rights. Children that grow up in different ZIP codes do not have access to the American dream which is their right. He criticized the platform of public education which is not designed to cater every kid. It is not the fault of people employed in public education institutions. The United States has so many great administrators and teachers that work very hard. However, the education system is not letting them do a better job.
Dick DeVos donated fifty thousand dollars to Rehoboth Christian School in New Mexico. The Potter’s House based in Wyoming got three-hundred-thousand dollars. The West Michigan Aviation Academy received three-hundred-and-fifteen-thousand dollars. Midland-based Northwood University was donated two-hundred-thousand dollars. New Urban Learning which is a Detroit Charter School Company received twenty-five thousand dollars. Hundred thousand dollars was given to Ferris Stated University located in Big Rapids. Compass College of Cinematic Arts is based in Grand Rapids, and it was given fifty thousand dollars. The University of Maryland and several other institutions received a huge amount of money too.