Marketing, Motherhood, and Mayhem

Shark Tank Teaching Tool

May 13th, 2011 by Deb McLean

One of the shows that we DVR and watch as a family is Shark Tank.  Yes, some of it is exaggerated for the sake of the television audience, but there are definitely lessons to be learned.  My husband, Tim, uses it as a tool to teach business and logic to Casey.  He’ll pause it, and make her answer questions about the product that is being presented including its marketability and the negotiations taking place both between the “Sharks” and with the presenter.  We’ve actually seen her understanding of business logic improve through these discussions.  

Our most recent episode included Vurtego Pogo Sticks.  They take pogo sticks to a whole new level.   The demonstration was like watching X-Games!  The owner wanted to use the ”Sharks” to help finance taking this product mass market although there are those willing to pay top dollar for this cool, hip product.  The “Sharks” unanimously advised him that he would make a great deal more by charging double or triple his price and NOT going mass market because he’d lose that cool, hip factor and therefore the desirability.  Not every product is meant to be  mass marketed.  This is case in point and a lesson for everyone.

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