Thursday, May 26, 2022

consumer debt, saturation level, big picture

 Daniel Goleman, Working with emotional intelligence, 1998
hardcover
658.409
Goleman

p.297
Appliance sales a GE had slowed alarmingly, and the manager was dismayed.  Studying a chart showing a steady dip in sales, he and his colleagues realized the appliance division was having serious trouble with marketing.  The conversation quickly turned to seeking a solution.  Should they concentrate on pricing?  On advertising?  On some other change in marketing?
   Then some one from the company's financial services arm, GE Capital, displayed a chart showing that consumer debt was reaching saturation levels ── it wasn't that the company was failing in its marketing, but that people were having more trouble paying for big-ticket items like appliances.
   “Suddenly, everyone had a whole new angle on the problem”, one meeting attendee noted.  This fresh information led the discussion away from marketing to financing ── searching for ways to help customers pay for such a large purchase.1
   It was a moment when crucial information ── a look at the bigger picture ── arrived in time to avert the corporate equivalent of a minor shipwreck.

Daniel Goleman, Working with emotional intelligence, 1998
hardcover
658.409  Goleman
other books by Daniel Goleman
Emotional Intelligence;
Vital Lies, Simple Truth;
The Meditative Mind;
co-author, The Creative Spirit.
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Americans are racking up debt at record rates. Consumer debt levels for March 2022 climbed by $52.4 billion, an annual increase of 14%, seasonally adjusted, according to Federal Reserve data released Friday.May 6, 2022
 
 
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