More often than not, entrepreneurs are encouraged to develop long-term strategies for growth. Sometimes, however, it is possible to develop a short-term strategy for a short-term gain--without risking large up-front capital investment. Ten years ago, very few Internet users had ever heard of the Pet Rock. I enjoyed referring to it in courses as an example of a product innovation using one of the world's oldest resources which was "re-saleable" via a simple, inexpensive, but highly pathos-loaded marketing campaign. Today, one can find references to the rock on pop-sites, inventor sites, and on wikipedia.
The Pet Rock (which I bought for my father for Christmas in 1975 when I was the ripe age of 18)serves as a reminder that nearly anything is marketable--giving the right time, place, and message. The entrepreneur must have a sixth sense (empathy) for customer needs (perceived or real) and be able to identify the seize the moment when time, place, and message can converge or be converged.
Gary Dahl, innovator and seller of the Pet Rock, was interviewed by National Public Radio (NPR) in the United States in 2000. Listen.
Today, 35 years on, the Pet Rock is making a comeback--relying on the nostalgia market. Martin Abrams, formerly an executive of Mega Corporation (no longer in existence), bought the rights to "Pet Rock" and has relaunched them via his company I-Star Entertainment.
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