Market research, focus groups , user forums and prediction markets are all focused on getting customer requirements right for the product in making or selling and eventually make the product succeed, The model works but temporarily created demand is one and the best one that beats all the odds of scientific research that none of the above fields that may not predict to the farthest possible extent.An recent example of sharp rise in coconut prices in a day in south Indian state Andhra Pradesh.The people went crazy on coconut breaking spree in front of their houses. The reason – “The first amavasya (a Telugu tidhi) after Sankranti brings bad omen for our sons. The second reason is that the akhanda jyothi being offered to Lord Venkateswara at Tirumala went off indicating that bad time was ahead of us. To exorcise the bad omen, we should break a coconut,”.These mass mania creates unusual demand for the product and similarly in the past Lord Ganesha drinking milk , One can imagine the supply problems of milk that single day where dairy businesses should have prospered or suffered because of this mania.These are all again faith related which people sometimes blindly follow and thus creates a real marketing problem.Its not that having faith is anything wrong and here is good blog about how easy it is for kids learn about Hindu deities. I wish I had time to collect more and see these kind of temp manias that changes Marketing Research equation.
Finally got a call on Saturday that this home run first day care lady felt that our baby is crying a lot and will not be able to see her as she is more comfortable with older babies.Short notice but was better than late.We learned our lesson and this time for second day care , the difference is that second day care lady gave us the confidence. Yesterday our daughter was so happy playing all by herself.The feedback from this day care lady seems appropriate like baby crying for ten minutes for two times.We are kind of comfortable now and have to see how next few weeks will go with this day care. Isn’t this too much of a stress on a baby ? What we lack being an immigrant is lack of family support system which is well another long blog topic that I’m planning for some other day. BTW the current demand level for live-in desi nannies in Chicago suburbs is 1400$ to 2000$ per month.They are scarce and turnover rate is high.
Third week into my 3rd and 4Th courses at DePaul MBA.Stats is getting tougher with homework scores sliding.Third week home work for stats was about descriptive measures with correlation coefficients, covariances.Minitab (a statistic tool used in Six Sigma) that I learned previously helping me find these with less ease without doing it through manual calculations.Next week is about probability which is the one topic I did miserably from the school/graduate days.
Other SHRM course is relative easier that papers out of work experiences to be written following the directions.HR seems to be the toughest profession with so many legal implications attached to the employee-employer relationships.HR is the person who can directly look into employees eyes and say ‘you are fired’.That’s tough thing that anyone can do.