I just got back from a week in Panama, where I met up with my backpacking daughter Jessa. Besides the incredible beauty of the San Blas islands (below), the peacefulness of El Valle de Anton, and the warmth of the Panamian people, there were of course exciting marketing lessons to be learned (yes, even on vacation!). Here are my top 3 "power" marketing learnings from Panama:

1. The power of a monopoly: There is one and only one waterway that connects the Atlantic and Pacific oceans - the Panama Canal. The huge cargo ship we saw pass through the "big ditch" paid over $250,000 for the privilege. And that's one of roughly 15,000 vessels that goes through the canal every year. Besides the money, the reality of limited choice and lack of real competition forces the shipping industry (i.e. the customers) to accommodate the canal, vs. the canal accommodating the industry. That's why there are terms like "Panamax," which refers to the size limits for vessels traveling through the Panama Canal. As Wikipedia explains:

The allowable size is limited by the width and length of the available lock chambers, by the depth of the water in the canal and by the height of the Bridge of the Americas. The limits have influenced those constructing cargo ships, giving clear parameters for ships destined to traverse the Panama Canal. "Panamax" has been in effect since the opening of the canal in 1914.

2. The power of social norms: This, I'm embarrassed to admit. We were borrowing bikes at a B&B in the small mountain town of El Valle, to ride to the zoo. And despite our consulting work over the last few years with CDC’s Center for Injury Prevention & Control on road safety, and despite my “role modeling” for my daughter who was with me, I chose to not wear a bike helmet. My rationale? Mostly that no one in the town was wearing a helmet. Also there weren’t that many cars. And it didn’t “feel” risky. All copouts I’m afraid, and testimony to the powerful influence of social norms.

3. The power of brand association: Whenever I saw a toucan (not uncommon in Central America). I immediately thought of… Froot Loops cereal. Then the TV ads with Toucan Sam that I first saw as a kid. In my mind, for better or worse, Kellogg's Froot Loops “owns” toucans. A demonstration of the power of brand association, especially for an uncommon “thing” like the toucan.