Word: shockproof
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Dates: during 1960-1960
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...learn about watches-and what was wrong with Elgin-by paying $50,000 for market surveys. The surveys showed that Elgin simply was not making what buyers wanted. Men were found to prefer round watches (most of Elgin's were rectangular), to like functional stainless steel water-and shockproof cases (Elgin's were mostly yellow gold), to want sweep second hands (only 15% of Elgin's models had them). Elgin had always prided itself on its high-priced watches for lifetime use, but Moorman argued that what consumers wanted was cheaper watches...
...company year that ended March 1, Elgin reported earnings of $815,000. more than three-quarters of it in the fourth quarter, the best quarter for watch sales. This week Elgin is introducing two more watches: the wafer-thin Self-Winder, which sells for $49.95, and the water-and shockproof Yachtsman, which is priced at $39.95. With bulging back orders. Elgin's plant is running at full speed, and the workers who took a pay cut in 1958 are now making 15% to 20% more than before...