You guys ever think that there’s just too much trust in certain things? Do you guys trust a large company’s advertising? Corporations won’t just flat out lie…..right?! Or what about glass bridges? Do you guys completely believe that the glass will never fail? Find out more about whether or not you should trust things completely in this video!
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Here are a few reasons to never put too much of your trust in anything!
9 – Hoover’s “Free” Flights
In 1992, the Hoover Company came up with what they thought would be a brilliant marketing campaign. Hoover’s British division was approached by a now-defunct travel agency called JSI Travel with an idea. The idea was to offer two free return flights to Europe with every purchase of any Hoover product worth more than 100 pounds, all arranged through this travel agency. Those who tried to redeem the flights had to jump through many hoops to actually get the tickets, and the agency would attempt to upsell additional services such as travel insurance and hotel packages. JSI Travel also thought it would provide a long term benefit for their small company as it would introduce tens of thousands of people to their travel agency’s services. Initially, the campaign seemed like a success, as the surplus inventory began to go down, AND not that many customers actually used the vouchers at first. But Hoover decided to expand the offer to include destinations in the US! Bad idea, because at this point the consumer response increased enormously, as Hoover was offering around 600 pounds worth of airline tickets for a purchase minimum of just 100 pounds! Who approved THIS marketing idea?! Some customers paid for the appliances and then just left them in stores because they didn’t even really need it. Overall the 30 million pounds in increased sales that the promotion attracted was completely dwarfed by the 50 million pound cost to pay for all the airline tickets! And that’s not counting legal settlements against Hoover for trying their best to not honor their end of the bargain on the tickets!
8 – “Rare” Diamonds
How many of you guys know that the diamond engagement ring came to be only because back in 1938 De Beers decided that they wanted to sell diamonds at a higher price? Simple as that. Prior to a stunningly successful marketing campaign in 1938, Americans occasionally exchanged engagement rings, but it wasn’t a traditional occurrence.De Beers masterfully created demand for diamonds by hiring a marketing agency that eventually created a campaign called ‘A Diamond Is Forever’, which became the official motto for De Beers. Not only is the demand for diamonds just a marketing invention, but diamonds aren’t actually that rare. However, the diamond is the most popular gemstone. The myth that diamonds are rare continues to be believed by so many. The thing is, De Beers controlled most of the diamond supply until around the year 2000. They had created an artificial scarcity by limiting the amount of diamonds that were listed on the market. The result? By 1979, De Beers diamond sales in the U.S. had reached over 2 billion dollars, compared to only 23 million dollars in 1939. That’s almost 100 times more in only 40 years! The industry banks on the fact that you won’t go selling your diamond ring, because, as the motto states: “Diamonds are forever.”
7 – Fine wine?
We all enjoy a nice glass of wine, especially after a long day at work. But are you 100% sure that the bottle wine you just bought is actually what it is?! Wine industry experts say that approximately one in every 20 bottles of fine wine sold today is actually not “fine”, and is merely a relabeled cheap wine. Of course, unless you happen to be a vintage wine collector, that likely isn’t a concern for you. In the vintage wine collecting world, bottles are traded and sold for many thousands of dollars. Even so, wine scams certainly can trickle down to the ordinary consumer. In a recent famous case, one of California’s biggest producers was duped into buying bulk quantities of French “plonk”, otherwise known as cheap wine, which it unknowingly bottled and re-sold under a popular label on supermarket shelves.