We all love music in one form or another and maybe you have read a book about your favourite singer. If you focus on the instruments invariably a piano is used . An interesting book about the history and the companies which made pianos is called The Piano Makers by David Wainwright, Hutchinson of London, UK, 1975. The book focuses on piano making in England and part of the book is how to sell the merchandise. For a long time the institution user included the church and if you drive into the countryside you will see many churches. In the area where the author lives, the church was given land or the cost was zero. Given the rural nature, when the church was built the neighbours came together to build the church for free and then the church was the social hub of the community, some also came for the religious services. In each church there is an organ or music and this is the natural customer base for piano makers. As time goes on, people entertained in their homes and at even now days at most parties there is some music being played, whether live or on the radio. The music always sounds better if someone can play live. Given the above what choice of piano do people make? The same as it is today, the influence makers helped make decisions. The influence makers were the gifted musicians who toured, but what the audience may not have known was the piano was donated for the tour by the manufacturer. The manufacturer also built concert halls which featured their instruments being played translating into the captive audience would hear and see their piano and be influenced to buy one. If you do not know how to play, the manufacturers teamed up with educators or someone to teach you to play for to play the piano. In order to play the piano, you must practice and it is easier to practice if you own a piano. Many of the branding and marketing methods you see in a variety of consumer goods you can see  with the piano.

Linking to dividend paying stocks, most piano companies have over the years stayed in private hands, the business end is in the public and needs goodwill of the public to continue. The cycle of taking lessons, buying the piano, going to concert halls and maybe updating in the future are linked to the continue prosperity of the manufacturer. The other activities pay dividends to the manufacturer and for all industries a cycle is needed to ensure each generation continues to use their product. Over each generation many challenges will happen, whether they are dealing with wars, natural disasters, conflict between partners or craftsmen and the general economic cycle to name a few. The art of staying profitable, staying in business and continuing in business is something to celebrate and that is why receiving a dividend is a great tune.

There are more questions than answers, till the next time – to raising questions.