JUNE 6, 2004
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Market Research Jitters
The big market research (MR) problem: people, when asked, often tell you what they think you want to hear rather than what they really think.


Maggi Five
Say 'Maggi', you get '2 minutes' in response. But the brand is talking '5' all of a sudden.

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Business Today,  May 23, 2004
 
 
Putting The Fun Back In Business
 
Richard Branson, Founder, Virgin Records

The problem with describing sir Richard Branson is that there are so many adjectives that you wouldn't know where to begin. 'Flamboyant', 'extravagant', 'eccentric', 'daredevil' are just a few that have been used to describe him; and so have 'stark-raving mad' and 'lunatic'. He is a bit of all of these, and though there are far more successful entrepreneurs out there, no can doubt the fact that Branson, at the age of 54, is the one that has had the most fun.

At 17, while studying at the exclusive English public school at Stowe, Branson started his first business-a student advisory service. By 22, he was well on his way to making his millions via Virgin Records. By the early 1980's, Virgin had artists like the Rolling Stones on their books and was one of the world's largest music labels.

Interpret Needs

But the business that was going to pitch Branson into the deep end and the spotlight, was Virgin Atlantic Airways. With a solo Boeing 747, Branson was to begin a new era of airline service. From in-flight massages to motorcycle limousines, Virgin Atlantic wanted to change the rules of air travel.

There were others, though, who had tried and failed at the same game, notably, Sir Freddie Laker who was browbeaten by the major network carriers. In the 20 years since it started, Virgin Atlantic has survived hostile attacks from British Airways-read Dirty Tricks for more on that-to become the UK's second largest scheduled carrier with a network spanning the globe, and a major in its own right.

Virgin Records was sold to EMI in the early 90s and the money ploughed back into the airline, but Branson still maintains a considerable presence in the entertainment world. There are Virgin mega-stores and a new record label V2 as well as book publishing ventures and interests in some nightclubs. In 1999, in an attempt to make Virgin a truly global player in the aviation market, he sold 49 per cent stake in the airline to Singapore Airlines. In the same year, he became Sir Richard Branson when the Queen knighted him.

Of course, Branson has had his fair share of things going wrong. And we do not just mean the innumerable amount of times he has tried to go around the world in a balloon only to land in the ocean. He tried and failed to break the cola duopoly with Virgin Cola, but that said, Branson has enjoyed an amazing strike rate.

One can't, of course, argue with success-specially if it involves a Caribbean island.

 

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