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Marlboro Friday
Marlboro Friday refers to April 2, 1993, when Philip Morris announced a 20% price cut to their Marlboro cigarettes to fight back against generic competitors, which were increasingly eating into their market share. As a result, Philip Morris's stock fell 26%, and the share value of other branded consumer product companies, including Coca-Cola and RJR Nabisco, fell as well. The broad index fell 1.98% that day. ''Fortune'' magazine deemed Marlboro Friday "the day the Marlboro Man fell off his horse." Philip Morris investors interpreted the price slash as an admission of defeat from the Marlboro brand, evidence that Philip Morris could no longer justify its higher price tag and now had to compete with generic brands. At the time, this event was regarded as signifying "the death of a brand A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and adver ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philip Morris USA
Philip Morris USA is the American tobacco division of the American tobacco corporation Altria Group. History Creation The company's namesake Philip Morris was born in Whitechapel, United Kingdom in 1835, the son of a recent immigrant from Germany who had taken the name Bernard Morris. In 1847, the family opened a shop in London. The first cigarettes that Philip Morris made were in 1854 and were known as "Philip Morris English Ovals," a non-filter brand of oval-shaped cigarettes that were manufactured in very limited quantities until discontinuation in 2017. Early years In 1902, Philip Morris & Co. Ltd. was incorporated in New York City. George J. Whelan bought the American division of the company in 1919 and created Philip Morris & Co. Ltd., Inc., along with fellow shareholders Reuben M. Ellis and Leonard B. McKitterick. In 1929, the company made its first cigarettes in Richmond, using an existing factory the company purchased. In 1933, this factory was racially integr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marlboro (cigarette)
Marlboro (, ) is an American brand of cigarettes, currently owned and manufactured by Philip Morris USA (a branch of Altria) within the United States and by Philip Morris International (now separate from Altria) outside the US. The largest Marlboro cigarette manufacturing plant is located in Richmond, Virginia, Richmond, Virginia. As of 2017, Marlboro had 40% market share in the US. History In 1846, British tobacconist Philip Morris (tobacconist), Phillip Morris opened a shop on Bond Street, London, United Kingdom, selling tobacco and rolled cigarettes. After his death from cancer in 1873, his brother Leopold and widow Margaret continued the business, growing it and opening a factory on Great Marlborough Street, London, from which the name was taken. Philip Morris opened a New York City, New York subsidiary in 1902 to sell many of its cigarette brands. The mark ''"Marlboro"'' was registered in the US in 1908 although no cigarette was marketed under this name until 1923. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coca-Cola
Coca-Cola, or Coke, is a carbonated soft drink manufactured by the Coca-Cola Company. Originally marketed as a temperance drink and intended as a patent medicine, it was invented in the late 19th century by John Stith Pemberton in Atlanta, Georgia. In 1888, Pemberton sold Coca-Cola's ownership rights to Asa Griggs Candler, a businessman, whose marketing tactics led Coca-Cola to its dominance of the global soft-drink market throughout the 20th and 21st century. The drink's name refers to two of its original ingredients: coca leaves and kola nuts (a source of caffeine). The current formula of Coca-Cola remains a closely guarded trade secret; however, a variety of reported recipes and experimental recreations have been published. The secrecy around the formula has been used by Coca-Cola in its marketing as only a handful of anonymous employees know the formula. The drink has inspired imitators and created a whole classification of soft drink: colas. The Coca-Cola C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortune (magazine)
''Fortune'' is an American multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The magazine competes with '' Forbes'' and '' Bloomberg Businessweek'' in the national business magazine category and distinguishes itself with long, in-depth feature articles. The magazine regularly publishes ranked lists, including the ''Fortune'' 500, a ranking of companies by revenue that it has published annually since 1955. The magazine is also known for its annual ''Fortune Investor's Guide''. History ''Fortune'' was founded by '' Time'' magazine co-founder Henry Luce in 1929 as "the Ideal Super-Class Magazine", a "distinguished and de luxe" publication "vividly portraying, interpreting and recording the Industrial Civilization". Briton Hadden, Luce's business partner, was not enthusiastic about the idea – which Luce originally ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generic Brand
Generic brands of consumer products (often supermarket goods) are distinguished by the absence of a brand name, instead identified solely by product characteristics and identified by plain, usually black-and-white packaging. Generally they imitate more expensive branded products, competing on price. They are similar to "store brand" or " private label" products sold under a brand particular to the merchant, but typically priced lower and perceived as lower quality. The term ''off brand'' is sometimes used. In the United Kingdom, these products are often referred to as "own brand" items. Characteristics Generics may be manufactured by less prominent companies or manufactured on the same production line as branded products. Generic brand products may be of similar quality as a branded product, are commonly made from ingredients same as standard ingredients used for branded products. Without the costs of marketing individual products, generic brands are priced lower than branded ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from generic or store brands. The practice of branding - in the original literal sense of marking by burning - is thought to have begun with the ancient Egyptians, who are known to have engaged in livestock branding as early as 2,700 BCE. Branding was used to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a product or com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tobacco Advertising
Nicotine marketing is the marketing of nicotine-containing products or use. Traditionally, the tobacco industry markets cigarette smoking, but it is increasingly marketing other products, such as electronic cigarettes and heated tobacco products. Products are marketed through social media, stealth marketing, mass media, and sponsorship (particularly of sporting events). Expenditures on nicotine marketing are in the tens of billions a year; in the US alone, spending was over US$1 million per hour in 2016; in 2003, per-capita marketing spending was $290 per adult smoker, or $45 per inhabitant. Nicotine marketing is increasingly regulated; some forms of nicotine advertising are banned in many countries. The World Health Organization recommends a complete tobacco advertising ban. Effects The effectiveness of tobacco marketing in increasing consumption of tobacco products is widely documented. Advertisements cause new people to become addicted, mostly when they are minors. Ads ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market
A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind. Size of the market The total market capitalization of all publicly traded securities worldwide rose from US$2.5 trillion in 1980 to US$93.7 trillion at the end of 2020. , there are 60 stock exchanges in the world. Of these, there are 16 exchanges with a market capitalization of $1 trillion or more, and they account for 87% of global market capitalization. Apart from the Australian Securities Exchange, these 16 exchanges are all in North America, Europe, or Asia. By country, the largest stock markets as of January 2022 are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1993 In The United States
Events from the year 1993 in the United States. Incumbents Federal government * President: George H. W. Bush ( R-Texas) (until January 20), Bill Clinton ( D-Arkansas) (starting January 20) * Vice President: Dan Quayle ( R-Indiana) (until January 20), Al Gore ( D-Tennessee) (starting January 20) * Chief Justice: William Rehnquist (Wisconsin) * Speaker of the House of Representatives: Tom Foley ( D-Washington) * Senate Majority Leader: George J. Mitchell ( D-Maine) * Congress: 102nd (until January 3), 103rd (starting January 3) Events January * January 3 – In Moscow, George H. W. Bush and Boris Yeltsin sign the second Strategic Arms Reduction Treaty. * January 5 **The state of Washington executes Westley Allan Dodd by hanging (the first legal hanging in America since 1965). **$7,400,000 USD is stolen from Brinks Armored Car Depot in Rochester, New York in the fifth-largest robbery in U.S. history. Four men, Samuel Millar, Father Patrick Moloney, former Roch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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