Lean Sales and Marketing

In the late 1800s, John Wanamaker opened a number of department stores bearing his surname.

A pioneer in leveraging the power of advertising, he is often quoted as stating: ‘‘Half the money

I spend on advertising is wasted; the trouble is, I don’t know which half.’’ Unfortunately for

Wanamaker’s, the chain was unable to capitalize on this very early lean sales and marketing thinking

and was slowly displaced by larger, more efficient retailers (with more effective advertising)

(Wikipedia, 2016).