When we think of a sail we think of a sleek boat or yacht on one of Michigan’s Great Lakes. But in the business world the word has a different meaning.
“Sail” is actually a contraction of “sale” and “fail”.
However, aside from the weekly giveaways at Meijer and Kroger meant to bring in shoppers, “Sail” means one thing and one thing only, “I have been unable to show people the value of my product at regular price”.
Some feel stores need to have a “sail” because the economy is bad or there is new competition in town. Although evidence seems to overwhelming support this theory, let us look at Whole Foods Market.
The national chain continues to grow even though their prices are higher than most competitors. In fact their customers do not even pay much attention to the prices they charge. Their success is achieved by capitalizing on a buying public looking for high quality food offerings. Whole Foods Market has convinced their shoppers they have the quality products that allow a home cooked meal to have 5-star restaurant quality. Their strategy permits them to continue charging their regular mark-on even when the public is cutting back on spending.
This and many other new business terms are called Bizerms™ by Max Impact, a Rochester Hills, Mich., based internet site offering complimentary resources to business leaders, entrepreneurs, human resources professionals and trainers. Each Bizerm™ is a play on words designed to get people thinking about the real meaning of old terminology or to give a visual image of a more truthful business implication of situation. For more Bizerms™, click here.
©2014 Max Impact, used with permission.
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