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MOOD RINGS
“The business of life is to go forward.”
—Ben Johnson
Innovation often comes when a person takes an idea from one area of science, business, or industry and applies it to another. Marvin Wernick constantly kept his eyes open for innovations in the jewelry business. He reasoned that although most of the jewelry designers were on the East Coast, people’s tastes were different in California. Marvin knew that, just as some people preferred more color in their wardrobe, many also wanted jewelry that was more colorful than the classic styles then available on the market. As the operator of a jewelry store, Marvin saw firsthand the boring colors offered by the eastern designers. He felt they were not paying attention to what people wanted and were anything but “hip.” That is when Marvin began making his own jewelry. His ideas of what people wanted proved to be correct and he soon became quite successful.
As Wernick searched for new materials to experiment with, he noticed a story in Science Digest about a new liquid crystal that was being used in cancer research. It changed color as the temperature changed. Wernick experimented with the crystal and fashioned it into jewelry that changed colors as the wearer’s body temperature changed. The resulting “mood ring” became a huge success. Other manufacturers copied the idea, but Marvin was able to make his rings fast enough to stay ahead of the competition. Like most other fads, the mood ring lasted only a short time. Nevertheless, it stands as an excellent example of how innovation can quickly capture a market.
CONSIDER THIS: Be prepared to take advantage of fad ideas while they are hot, and also be ready for the bottom to fall out.
Submitted by Richard
“The business of life is to go forward.”
—Ben Johnson
Innovation often comes when a person takes an idea from one area of science, business, or industry and applies it to another. Marvin Wernick constantly kept his eyes open for innovations in the jewelry business. He reasoned that although most of the jewelry designers were on the East Coast, people’s tastes were different in California. Marvin knew that, just as some people preferred more color in their wardrobe, many also wanted jewelry that was more colorful than the classic styles then available on the market. As the operator of a jewelry store, Marvin saw firsthand the boring colors offered by the eastern designers. He felt they were not paying attention to what people wanted and were anything but “hip.” That is when Marvin began making his own jewelry. His ideas of what people wanted proved to be correct and he soon became quite successful.
As Wernick searched for new materials to experiment with, he noticed a story in Science Digest about a new liquid crystal that was being used in cancer research. It changed color as the temperature changed. Wernick experimented with the crystal and fashioned it into jewelry that changed colors as the wearer’s body temperature changed. The resulting “mood ring” became a huge success. Other manufacturers copied the idea, but Marvin was able to make his rings fast enough to stay ahead of the competition. Like most other fads, the mood ring lasted only a short time. Nevertheless, it stands as an excellent example of how innovation can quickly capture a market.
CONSIDER THIS: Be prepared to take advantage of fad ideas while they are hot, and also be ready for the bottom to fall out.
Submitted by Richard
