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Filed under: quote

techcrunch: Flickr Should Have Built Instagram. But They Didn’t. Here’s Why.

The problem now is that Yahoo seems much more interested in “sunsetting” services to reduce costs rather than actually building new things once again. And that really, really worries me with regard to Flickr. We’ve heard some unconfirmed whispers of outside parties interested in purchasing the photo-sharing service from Yahoo. Given some of the light Elliot-McCrea just shed on internal workings there, perhaps we can only hope there’s something to those rumors.

People don't buy products

Theodore Levitt, a Harvard Business Professor and an Economist, wrote back in 1960 one of the best articles in the world of business, an article titled Marketing Myopia (PDF link).

He said: People don’t buy products, they ‘hire’ products to do a particular thing. For example, people don’t buy a drill, they buy a hole. They ‘hire’ the drill to make the hole.

how true.

the article is about the digg redesign - but most of all i love that quote.