Hanba’s interests are many, but commerce has not been one of them. Perhaps this is why it has taken Hanba long to realize some simple, fundamental things that for marketers and entrepreneurs are considered quite self-evident.
One of these concepts is ‘planned obsolescence’. This involves producing a product that will be rendered useless after a certain time period. Take your music cassette collection, for instance. The technology came and went, never meant to last forever. Also consider the fast cycle movies have made from VCRs through DVDs to blu-ray, or your cheap cotton T-shirts. All designed to break down, necessitating a new purchase in the future. The concept was introduced by Bernard London 1932 as a method to counter the Great Depression. Since, it has not only refined and re-iterated, but also been made a fundamental rule of the market.
Take a moment to look around you. How many items of quality do you see around you? When were they made and where? How much did they cost?
Next time you make a purchase, try to see if you can guess when your product will become obsolete. Hanba thinks you will be able to make an accurate guess. Why – because this concept is so ingrained in the market, the products and the prices that we all understand it. Whether we know it or not, we are experts of planned obsolescence.