Business Advice From Kids

Several children were given the following hypothetical businessscenario: Company 1 manufactures a popular dinosaur puppet. Company2 manufactures a larger dinosaur puppet that makes a roaring soundand costs less. How should Company 1 compete with Company 2?

Below are the responses of the young board of advisors. Takenote, you might uncover a good business strategy.

• "Maybe you should add stuff like three more legs-no,five more legs-and six heads and antennae. Then you could sell themas something really different, like 'alien dino puppets.' Ithink many people would come back to buy them." -Alyssa,8

• "Maybe put TWO T-Rexes in a pack, and when you rub theirtummies, they would roar AND they would fight. Maybe they wouldwatch FOUR T-Rexes fighting. I think you could sell a lot thatway." -Aaron, 6

• "If you copy somebody, you have to ask permission. Didthey get permission to copy your store? No, they did not. So callthe police immediately." -Audrey, 8

• "If they make a bigger T-Rex, you should make a smallerone and talk about the benefits, like, it would fit in yourpocket." -Nathaniel, 10

• "Make all of our puppets have sound effects. Then lowerour price to match their price. Don't go lower, though, becausethen they'll go lower and we'll go lower and thenthey'll go lower and we'll go lower and then . . . thedinos will be free." -Dylan, 9