Marketing Story - The Wisdom of a Jewish Businessman

In 1946, there was a Jewish businessman and his son arrived United States. They were running business related to tools that made of bronze.

One day, the businessman asked his son, " Hi, my son, now what is the price of one pound of Bronze?" The son, replied,"35cents, father."

The businessman said," Yes, most of the people know that the bronze is 35cents, but as a Jewish, our only wealth that we have is our wisdom. So, it is not 35cents, but 3.5dollar."

The son was surprised and looked at his father. The father explained further that:" If you turn one pound of Bronze into one door knob, can it be 3.5dollar?"

After some years, the businessman has passed away. His son has done many different kinds of business including swiss watch, Olympic medals, and even change a pound of Bronze into 3500 US dollar.

In 1974, America government wanted to replenish the Statue of Liberty. But after the project, there was a lot of rubbish left over. The government had been looking for private company to do the tidying up process of the left over rubbish. This son heard about it and quickly went to New York. He saw a lot of bronze and wood were left over at the site. Hence, he quickly signed the contract with the government.

Many people did not understand and laugh at him for his foolishness to get himself into trouble. This was because there was a strict law in New York that if the rubbish was not well taken care, he might be sued by the environmental authority.

However, this son has gathered some workers and started to categorize the rubbish into different groups. The lead and bronze alloy were turned into small souvenirs of statue of liberty. The wood was made as the base of those souvenirs.

After few months, the rubbish was turned into 3.5million US dollar cash, it means every pound of bronze has turned into thousands times of value!

PS: Just a piece of bronze, after being manufactured, the value has increased from 35cent to 3.5dollar. Nowadays, a lot of products can be found in the market. But how to produce a unique product? This requires our wisdom and strategy to tell the customer our unique selling preposition (USP). By then only we can produce a good results.