Driving Demand: the required action of the "Demand Drives Price" lesson

 

Lessons from Economics and Real-World Examples

“Driving demand” sits at the heart of the concept that “demand drives price.” This principle, rooted in fundamental economics, shapes the way businesses, industries, and even institutions operate and grow.

A Lesson from Micro-Economics: The Value of Information

Fourteen years ago, I wrote an essay recounting a powerful lesson I learned on my first day in college Micro-Economics, way back in 1982. The lesson—titled “Demand Drives Price”—has stuck with me for over four decades and continues to inform my thinking today.

My Econ Professor illustrated this truth using three copies of the local newspaper: yesterday’s edition, todays, and a hypothetical “tomorrow’s” edition. Today’s paper cost 25 cents in those days, and everyone agreed that was a fair price. Yesterday’s paper, now outdated, was worth little—maybe a nickel for practical uses like lining a cat box or cleaning windows. But the hypothetical “tomorrow’s” paper, filled with future sports scores, world headlines, and stock prices, sparked excitement. Someone suggested it could be worth a dollar, then ten, then $100, and finally someone shouted, “Maybe $100,000!” The cost of production for each paper was identical, but the value varied astronomically, all because demand was so different.

The Importance of Driving Demand

That morning lecture has stayed with me throughout my career. Whenever I face business challenges, I remind myself of the vital importance of driving demand. This isn’t just a theoretical concept—it’s a practical imperative for growth.

Supply, Demand, and Market Equilibrium

Across industries and organizations, the basic principles of supply and demand always hold. Every market has an equilibrium point where supply meets demand, determining the price and quantity the market will support. Yet, it’s surprising how often organizations forget that to foster growth—in both price and quantity—you must actively drive demand. Put simply, if you want to “sell more for more,” you need to create and nurture demand in your marketplace.

Real-World Examples: When Demand Falters

Let’s look at a few examples where the failure to drive demand led to decline:

• Frozen Concentrated Orange Juice (FCOJ): Once a staple in American households, FCOJ recently disappeared from Minute Maid’s product lineup. The decline wasn’t just about changing consumer preferences; it was about the inability—or lack of action—to drive demand for the product. Without demand, even long-standing brands can fade away.
  
• Film Photography: Despite a surge in picture-taking, Kodak, once synonymous with photography, became irrelevant. The industry failed to adapt and drive demand in the new era of digital photography. Kodak’s slow response to digital cameras—and later, smartphones—meant missed opportunities and lost relevance.
• Higher Education: Colleges and universities today face a “demographic cliff”—fewer college-age seniors and fewer foreign students. Without strong demand for their offerings, institutions struggle to attract incoming classes, leading to lower prices( more financial aid,) lower class sizes, and a downward spiral. Only those with compelling value propositions can maintain or grow demand and avoid “selling less for less.”

Learning from Success: Apple’s Turnaround

While these stories seem bleak, history offers hope. Consider Apple Computers in the late 1980s and 1990s. The company tried to cut costs to halt declining sales, but it wasn’t until Steve Jobs returned in 1997 that Apple began its turnaround. Jobs invested heavily in R&D, innovation, and marketing. With the launch of the iPod in 2001 and the iPhone in 2007, Apple became the growth juggernaut we know today. The lesson? Forget “saving your way to success.” Instead, focus on driving demand through innovation and marketing.

Conclusion: Make Driving Demand Your Priority

Remember the story of the newspapers: if “demand drives price,” we must all push ourselves—regardless of role, title, or industry—to drive demand in any way we can. It’s the key to growth, relevance, and lasting success.

 

The “Promiscuous” Consumer… disrupting legacy brands faster than ever!!

 

 

I have commented over the years in this forum about the “fickleness” of consumers.  Many years ago, I wrote an essay (https://fylegacy.blogspot.com/2014/11/brand-loyalty-dangerous-and-outmoded.html) expounding on the idea that the “brand loyalty” and the “brand adoption model” were dangerous and outmoded ideas.  Writing this in early 2026, I am convinced that those musings were not only true, but the dynamic of “promiscuous consumers” disrupting legacy brands is actually accelerating.

This idea/concept first hit my radar in the late 1980’s.  In those years, before I found my way to Coke, I was the brand manager for Breyers Ice Cream, in those years owned by Kraft Foods.  In 1988, Phillip Morris (the tobacco giant) which owned General Foods acquired Kraft and combined the operations into a large food conglomerate name KGF.  As part of the integration process, I went to meetings in General Foods HQ (White Plains NY) to meet their marketing teams and work on integration plans.  On one of those trips, I just happened to “sit in” on a meeting being held by the V.P. of Marketing for Maxwell House Coffee, one of General Food’s historic and iconic brands.  The team was discussing an upstart “coffee shop” brand emerging from Seattle with an odd name….. yes, Starbucks.  They laughed at the “burnt taste” of the dark roasted coffee, the fact you could only buy it at a Starbucks store ( it wasn’t until 1998 that Starbucks coffee became available in grocery stores) and that there was a whopping 50+/- Starbucks locations in the entire U.S. at that time!  The final “mockery” was the V.P. prognosticating that NO ONE in America would ever pay $1.00 for a cup of coffee.  The team laughed, dropped that topic and moved onto what seemed to them the bigger challenges of the day.

I think back to that moment today, with 16k+ Starbucks locations in the U.S., 40k+ across the world, and reflect on Starbucks as the legacy brand today that is being disrupted from every angle.  This cycle/dynamic is accelerating in the food and beverage space and indeed is true across a wide array of consumer facing categories.  The consumers that I described as “promiscuous” are doing the logical thing… assessing their current choices of food, beverages, restaurants, cars, technology, clothing, and even lawn and garden brands and are wondering ( or doing live AI driven research) looking for “better” options.  We will dig deeper into this “better” definition in a future essay, but for today think about “(Q+C)/$” or Quality and Convenience delivered, divided by price.

Consideration for Disruptor Brands:  The headline hear is “go for it!”  I deeply believe that there are NO legacy brands that are invulnerable… regardless of category.  Now many legacy brands have incredible “moats” and can play defense or counterattack very well, with lots of resources so disruptor brands shouldn’t be naïve about the fights ahead.  Remember the “Differentiation Formula” that I shared years about the D/P/A model: “Distinctive” in the market/category you are competing, “Preferred” by core consumers/users, “Advantaged” vs competition.  If your disruptor offering hits the D/P/A model well, play hard and play fast… most legacy brands are slow to respond.

Consideration for Legacy Brands: The headline here is accelerate your work and your market awareness and always operate with a “pebble in the shoe”.  Be paranoid and imagine that you are surrounded by a myriad of brands that wont to destroy your brand and source their volume from YOUR business.  Don’t assume ANY competitor is too small, too niche, too obscure, or too expensive (remember those $1 cups of coffee.)  Work the D/P/A model hard on your side of things… and keep building/strengthening the competitive “moats” that will help you defend…. but you can’t stay purely reactive and defensive!  EVERY brand and business always needs to be “re-recruiting” its consumer base and be sure you are clear why a “promiscuous” consumer who has never tried your brand should try it tomorrow!

18 Years X 2: A Story of Growth, Gratitude, and Redefinition

 

Last Friday, April 3, 2026, marked a milestone that has prompted a period of deep reflection for me. It was the 18^th anniversary of my resignation from The Coca-Cola Company, and with that, I have now spent more time “out of Coke” than I did working there—almost 18 years from 1990 to 2008. While I am proud of my years at Coca-Cola, this anniversary has stirred thoughts and perspectives I’d like to share in this essay.

As a dear friend likes to remind me, “let’s start with gratitude.” I am sincerely grateful for my time at Coke. Those years allowed me to work with—and for—some truly remarkable people, forge lasting friendships, and learn invaluable lessons about business and leadership. Reflecting on the dramatic moments throughout those years, I realize that every crisis brought personal growth and learning. There were tough times and challenges, including peers and bosses who fell short, but those experiences helped me mature as a business person and a leader. I am appreciative for the growth I experienced and what it enabled me to accomplish after leaving Coke.

The 18 years since have been transformative, offering me the opportunity to redefine myself both professionally and personally. One important realization was that my identity—professional and personal—would no longer be tied to The Coca-Cola Company. In 2009, I found my way to Bolthouse Farms (more on that soon), but that first year post-Coke was challenging and crucial. It forced me to reassess my sense of self and focus on a personal goal: to become an inspirational business leader rather than simply a senior executive at a single company. Consulting for numerous companies across various industries helped me build skills and grow, learn new industries and expand my impact. Additionally in  2009 I began this blog. Now, 18 years and 300+ essays later, I am still posting content—a journey of personal expansion that continues today.

Joining Bolthouse Farms in 2009 was another turning point, and I am deeply thankful for the privilege of being part of that adventure. I was 48 when I started, with much to learn about agriculture, plant operations, commuting, private equity, and so much more. Before retiring in 2024, I had the honor of serving as a senior executive ( ultimately President and COO) for Bolthouse Farms for nearly 12 years. I genuinely “fell in love” with the company, the team, and those Bakersfield days. We created significant value and success together, and today, as a “cheerleader from the sidelines,” I am proud of the teams currently leading the company and the strong legacy they are building.

Looking ahead, now in board roles as a “trusted advisor,” my goal is to make an impact and leave a legacy built on the foundation of these two 18-year chapters. It’s humbling to have a professional history (41+ years) that predates the birth of many I work with today. I am committed to translating those years of experience and learning into meaningful advice and support. Wherever you are in your professional journey, I encourage you: keep learning, keep growing, and don’t let any single company, role, title, or boss define you. You are the owner, creator, and definer of your personal brand—and only you can guide your path.

Reflecting on the Covid-19 Pandemic: A Leadership Journey at Bolthouse Farms

 Marking Six Years Since the World Changed

Six years ago today—yes, literally today, Friday, March 13, 2020—the world as we knew it shifted dramatically as we entered the reality of the Covid-19 global pandemic. As I write this blog post, we are again witnessing challenging world events (the ongoing conflict in Iran and the Middle East). In this climate of challenge and uncertainty, it feels timely to pause and reflect on those experiences that lead through the unprecedented crisis that began in 2020.

Back then, I had the honor to be a senior leader at Bolthouse Farms, a remarkable company based in Bakersfield, California. We had just completed the purchase of the company from Campbell’s (a story for another post) and managed to bring back about 75 alumni within the first 90-100 days of the transition. We were well aware of the uphill battle ahead: the business was facing significant challenges, and we needed to rebuild the organization and the business processes as an independent company, separate from the Campbell’s corporate infrastructure. Our goal was to stabilize operations and lay the groundwork for future growth. We thought we understood the road ahead—but none of us could have anticipated the global crisis that was looming just a few months ahead, a crisis that would soon engulf not just our company, but our community, our country, and the world.

At the time, I was 58, with 35 years in business behind me and was pretty confident in my business and leadership capabilities.  Like so many leaders, I had no playbook for what was coming. It was frightening, unpredictable, and demanded that we find a new way forward—fast. I realized quickly that our carefully crafted strategies would have to be set aside. Instead, we needed to focus on two simple but critical objectives:

1. Maintain basic business operations.
2. Make our workplace as safe and healthy as possible.

These two guiding principles became our foundation, bringing much-needed clarity to our leadership team and the entire company ... and to me personally! We kept our focus on the business issues that were "important and urgent,"  often managing the business day to day,  at times hour by hour. I began keeping daily—and sometimes hourly—notes starting in late March 2020, which evolved into a kind of journal (pictured above) chronicling those turbulent times. I keep this “little talisman” near my home office desk today as a constant reminder of what we navigated and how we found our way through those extremely challenging and stressful times.

Flipping through those notes recently, I landed on an entry from January 11, 2021. By then, my entries included business trends, market share updates, customer challenges and opportunities, and on that day, it held the details of the meetings we were scheduling to prepare for on-site employee vaccinations—which we soon rolled out. My heart still races when I revisit those scribbled memories, but I am deeply proud of what we accomplished together: keeping the business running and our workplace safe—sometimes even safer than our employees’ own homes.

I’m sharing this reflection to mark this important anniversary and to thank everyone who stood shoulder-to-shoulder with me during those extraordinary times. Now, at 64 and with more than 40 years in business, I am certain that leading Bolthouse Farms through the Covid-19 crisis will remain my proudest professional accomplishment.  I hope you can take a moment in these tumultuous times to reflect on your own journey earlier this decade and hopefully find strength and encouragement from the steps that you took to navigate the wild days that began on March 13^th, 2020.

 

Why Leaders Should Be Great Hosts

Building Teams Through Welcoming, Respectful, and Attentive Leadership

Leaders Need to Be Great “Hosts”

In today’s world, where bombastic, authoritarian leadership styles often dominate, it’s easy to overlook the power of a more human-centered approach. I’m not referring to social graces or the frequency of events leaders might “host.” Instead, I want to explore a leadership model that has proven effective time and again—one that inspires teams, boosts engagement, and drives performance by focusing on the art of hosting.

Think back to times when you were truly well hosted—dinners, parties, weekend gatherings, or even extended visits. What made those hosts stand out? Certain traits consistently emerged, and I believe these are foundational habits every leader should cultivate.

Welcoming: behaving in a polite or friendly way to a guest or new arrival.

Respectful: feeling or showing deference and respect.

Attentive: paying close attention to something.

These three traits work together to create an environment centered on the “guest”—in this case, your team members. Let’s dive deeper into each trait.

Welcoming: Actions Speak Louder Than Intent

Welcoming leadership is about consistent behavior, not just good intentions. Too often, leaders fail to treat their teams as “welcomed guests” in the enterprise. Yet, this mindset can transform the workplace. A welcoming leader acts with kindness and openness, making every team member feel valued and included. It’s rare, but it’s a powerful way to build trust and belonging.

Respectful: Leadership Is a Privilege, Not a Right

Showing deference and respect is not commonplace in today’s corporate or political landscape. Many leaders mistakenly believe their position entitles them to authority, but reality—and recent trends—prove otherwise. CEO turnover hit a record high in 2025, with 234 departures across tracked global indices, a 16% increase from 2024 and 21% above the eight-year average. Even top-performing firms saw increased turnover, driven by strategic realignment and shareholder pressure. The average tenure dropped to just 7.1 years.

Leaders must remain humble and appreciative—leadership is an honor and a privilege, not a right to be abused.

Attentive: Stay Tuned In to Your Team

Attentiveness means actively listening and observing your team’s needs. Leading through Covid taught me the importance of monitoring the health, well-being, and readiness of my company and direct reports. The challenges were immense, but by staying focused and attentive, we navigated a difficult period with surprising effectiveness.

A Story That Illustrates Host Leadership

Let me share a personal story that brings this concept to life. Over 20 years ago, I worked for a senior executive who had been a Marine lieutenant. At a large team meeting, as lunch was served, I watched him check the buffet lines, ensure there were enough plates and utensils, and personally ask staff to add more cookies to the coffee station. He waited until nearly everyone else had eaten before grabbing his own plate. Later, he explained this practice: in the Marines, he always made sure his platoon was fed and ready before serving himself; every day, every meal, every occasion!  As the leader, his job was to care for the group first.

Conclusion: Build Leadership Habits That Last

Leadership, at its best, is about cultivating habits and actions that make your team feel genuinely hosted—welcomed, respected, and attentively cared for. Find ways in your daily work to embody these traits. When you do, you’ll foster engagement, loyalty, and performance that goes beyond the ordinary.

 

The Four Freedoms: Leadership in Times of Crisis

 

Standing Up for Fundamental Freedoms

We as leaders must take a stand—there are “four freedoms” that we need to advocate for and activate in our communities today.

Reflecting on Leadership and Responsibility

For more than 16 years and in over 300 essays, my focus has been to share lessons of leadership and life. stories, insights and experiences intended to provoke thoughtful ideas and approaches, primarily within a business and professional context. As political divisions in our country have deepened, I have tried to avoid fueling partisan conflict, instead seeking a voice that can resonate with a broad audience and offer lessons that are helpful and productive across the political spectrum. On rare occasions, such as the day after the insurrection at the Capitol on January 6, 2021 (https://fylegacy.blogspot.com/2021/01/a-message-at-troubled-moment-in-our.html), I have addressed specific civic and political events directly. Today, I am compelled to do so again, deeply angered and appalled by the recent murders of Renée Good and Alex Pretti in Minneapolis.

The Impact and Obligation of Leadership

I have always emphasized that leadership is difficult, important, and deeply consequential. Leaders shape organizations, industries, and entire communities. At this moment, certain leaders in our Federal Government are taking actions that threaten and destroy these constituencies, endangering citizens and communities. Compounding this, propaganda from the same federal offices spreads falsehoods about events in Minneapolis, contradicting clear video and eyewitness evidence, and misrepresenting the victims’ backgrounds and character. Power does not grant truth—just because a leader claims something, it does not make it so.

Business Leaders Call for Change

Over the past weekend, the Minnesota Chamber of Commerce released an open letter signed by more than 60 CEO's in Minnesota - including 3M, Target, Best Buy, and United Healthcare - stating that  "we are calling for an immediate deescalation of tensions and for state, local and federal officials to work together to find real solutions.”(https://www.mnchamber.com/blog/open-letter-more-60-ceos-minnesota-based-companies) I stand with these leaders, and I urge others to recognize the gravity of this situation and “stand up” as well.

Finding Inspiration in History: The Four Freedoms

In the midst of the current crisis unfolding across our country, and most acutely in Minnesota, I look back to our shared history for inspiration. Franklin Delano Roosevelt, a federal leader during a time of immense challenge, delivered his famous “State of the Union” speech to Congress on January 6, 1941—a date coincidentally echoed in our own troubled times. Roosevelt’s speech, delivered as the world was engulfed in war, concluded with his vision that the world should be “founded upon four essential human freedoms.” (https://www.archives.gov/milestone-documents/president-franklin-roosevelts-annual-message-to-congress#page-header)

• The first is freedom of speech and expression—everywhere in the world.
• The second is freedom of every person to worship God in his own way—everywhere in the world.
• The third is freedom from want—which, translated into world terms, means economic understandings which will secure to every nation a healthy peacetime life for its inhabitants—everywhere in the world.
• The fourth is freedom from fear—which, translated into world terms, means a world-wide reduction of armaments so thorough that no nation will be in a position to commit an act of physical aggression against any neighbor—anywhere in the world.

Applying the Four Freedoms Today

While Roosevelt’s message was delivered at a time of global war and focused on combating fascist, autocratic regimes, I believe that, as leaders today, it is our duty to bring these four ideals to life in our own communities.

• We live at a time when individuals here at home, in our communities, do not have the freedom of speech and expression guaranteed by the First Amendment of our Constitution.
• We live at a time when individuals, communities, and congregations here at home do not have the freedom and support to worship God in their own way.
• We live at a time when “Freedom from Want” and the ability to live a healthy, peaceful life seems like an unfulfilled promise, even in the world’s wealthiest country.
• We live at a time when “Freedom from Fear” feels like a distant ideal, for citizens, immigrants, and refugees alike.

A Call to Action for Leaders

There is much work to be done to make these “Four Freedoms” a reality in our communities in 2026. As leaders, I encourage each of us to stand up, speak out, and let our voices and actions be seen and heard by our teams. Stand together with the 60+ CEOs in Minnesota and with leaders across the nation who are calling for an end to violence and the restoration of our constitutional freedoms.

Postscript: Supporting the Minneapolis/St. Paul Community

I am fortunate to have close friends who call Minneapolis/St. Paul home. Over the weekend, I reached out to share my concern, anguish, and support, and asked how I could help from afar. One of my closest friends suggested donating to Neighborhood House St. Paul, an organization that has been helping immigrants and refugees in St. Paul for 128 years. I have made a donation and am sharing the link to their website so readers of this essay can help as well. (https://neighborhoodhousemn.org)

Executional Excellence Never Goes Out of Style

Reflections on Why Execution Still Matters Today

 

The idea that “execution matters” has been foundational throughout my decades-long career and, if anything, is more important today than ever. When I started my business journey over 40 years ago, my first role was as a Marketing Assistant for Kimberly-Clark. My assignment? Sales training and managing my own “sales district” of grocery and drug stores carrying K-C’s brands. Every day, I’d visit 6-7 stores along my key routes. In those pre-digital days—before cell phones, personal computers, or the Internet—I would carefully jot down notes from each store visit, then complete an “After Action Report” (the famous “AAR”) after every stop. By Friday afternoons, I’d pull together my weekly expense report and compile a “weekly sales review”—a summary of all my AARs. I’d pop everything into a mailing envelope and send it off to my local district sales manager. This process and discipline were repeated daily, weekly, monthly—always with a laser focus on what was happening “in-store,” at the point of demand, and on what I could do to improve that reality. A recent stop at a local grocery store brought these early lessons flooding back to me.

Just last month, between Christmas and New Year’s, my daughter Marie and I were traveling in North Georgia and made a quick stop at an Ingle’s Grocery Store in Jasper to grab a coffee at Starbucks. The photos above are from that store visit, and I was blown away by how immaculately the end-aisle displays were set and stocked. Looking down the aisles, I noticed it wasn’t just the displays—the entire store was fully stocked and well merchandised. Keep in mind, this was during one of the busiest shopping periods of the year. To see a grocery store in such top shape was no small feat. It was a clear reminder that the team at Ingle’s—or maybe just that store—was committed to execution at the point of demand, and that it takes real work and discipline to maintain such standards.

Unfortunately, I often see great strategies, innovative ideas, and strong brand or product plans fall short of their potential. Why? Because that “last mile” (or, sometimes, the last few feet or even inches) is either overlooked or assumed. Even the best ideas don’t mean much if customers can’t find them in-store or online when they’re ready to buy.

This truth has been reinforced for me several times in just the past few days. A good friend recently launched a fantastic new product, meant to be featured with four facings in a specific location in every local grocery store in Atlanta. I visited four of those stores, expecting to see 16 facings in total, but instead found only one facing in just one store—far off the target! I snapped photos and texted my notes from each store visit, channeling my old “AAR” habit. While my friend was understandably frustrated, he appreciated the honest feedback and jumped in to fix the executional gap. Execution at the point of demand truly matters!

In another example this week, a CEO I work closely with shared that he spends every Thursday “walking stores” in person—wherever he happens to be. It’s his weekly discipline to step away from the computer and Zoom calls to physically see how his products are displayed, assess competitive activity, and observe retailer dynamics. This personal commitment not only helps him stay connected to the in-store reality but also sets a powerful example for the entire company: execution matters, and what happens in-store is a top priority.

Whatever your industry or role, I encourage you to pause and reflect on how you’re executing at the point of demand. Are you and your team taking the right actions to drive executional excellence—every day, every set, every store?