Word: lavin
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...James V. Lavin, director of the fund raising campaign, said yesterday that the architects, I.M. Pei and Associates, probably would not finish their work until October. "Then we'll decide whether to raise $22 million or leave the fund as it is," he said...
...today's markets, Lavin figures that almost any well-established consumer product can be toppled by a forcefully promoted newcomer. But, he says, "we realize this vulnerability cannot go on forever, so we are determined to exploit it thoroughly before the situation is corrected." Right now, another "20 or so" new products are in the works at Alberto-Culver...
...Strategy. Lavin's successful strategy is to work with a small staff for the sake of maneuverability (only four top executives make the decisions) and to create products for specific markets, launch them rapidly with a minimum of expensive test-marketing, advertise them relentlessly. Creating VO5 hair spray, Alberto-Culver methodically listed 18 qualities that women said they wanted in a spray, then rated all the competitors, point by point, and set out to make VO5 score higher. Though Alberto-Culver was twelve years late in the market, VO5 now has the biggest share...
Almost from the moment that his chemists start to work on a new product, Lavin's advertising men are preparing saturation campaigns. Even before Alberto-Culver finished developing its Subdue dandruff shampoo, the admen had filmed the TV commercials. If test audiences respond enthusiastically to the commercials, Lavin brings out the product. At times Lavin has put more than 50% of his sales into advertising, this year will invest well over $30 million. Television will...
Making a Score. Lavin is the kind of restlessly imaginative salesman who probably would have done well in anything that involves going for broke in fluid markets. A University of Washington graduate ('40), he worked for a number of small companies (everything from moth cakes to perfume), directed the TV ad campaign that made Stopette the best-selling deodorant of the early 1950s. Unhappy to see someone else get most of the benefit, he borrowed $488,000 in 1955 to buy Alberto-Culver and promptly dropped 24 of its 25 small-selling products to concentrate on VO5 hairdressing, began...