Listen "2,000 JPY bill marketing lessons"
Episode Synopsis
This presents an in-depth analysis of the 2,000 JPY bill's failure to achieve widespread adoption in Japan, using it as a case study for important marketing lessons. Despite being introduced for the millennium and the G8 Summit, it explains that the bill did not succeed due to a lack of necessary infrastructure support (ATMs and vending machines), a mismatch with established Japanese spending habits (preferring "1" and "5" denominations), and a vicious cycle of low circulation leading to discontinued printing. The core takeaway emphasizes that even a "good product" holds no value if customers, intermediate vendors, and infrastructure providers are not incentivized to use and support it, highlighting the need to address customer psychology, the operating ecosystem, and prevailing market trends for successful product launch and sustained use. Ithe text teaches that establishing an environment where a product is easily used is as critical as the product's design and intent.
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