Word: undersold
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Dates: during 1950-1959
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...markups. Originally, the big stores restricted competition to a few fast-selling items; now they match discounters dollar for dollar. Brooklyn's Abraham & Straus, Los Angeles' Barker Bros., Jordan, Marsh Co. have started running almost identical ads proclaiming an old retailing slogan: "We Will Not Be Undersold." Milwaukee's Boston Store last week advertised: "Save 22% to 50% on ... famous Westinghouse appliances." Detroit's J. L. Hudson Co. now tells customers that if they can find a better bargain elsewhere, Hudson's will cut its price to match...
What has happened in cotton clearly illustrates the ineffectiveness of high, rigid supports even when they are coupled with strict acreage controls. Because the U.S. was supporting (guaranteeing to buy) cotton at 90% of parity, this put a price floor under the world market. Undersold in foreign markets by cheaper cotton grown abroad, undersold at home by cheaper synthetics, U.S. cotton piled up in Government warehouses. To continue getting supports at 90%, cotton farmers last year voted to reduce their acreage by 12% and to market no more cotton than they could grow on the reduced acreage. But then they...
...substitute for empty order books. Some of these industries have already been helped, e.g., President Eisenhower has authorized $300 million in stockpile purchases from U.S. mines. Others are now hoping for tariff increases. But many can do better by helping themselves. The wood screw industry, for example, is being undersold 25% by foreign competitors (using American-made machines), chiefly because of low wages abroad. But the National Machine Co. of Tiffin, Ohio, exporter of wood screw machines since 1935, is now working on new models that are better than those exported. It expects to sell them almost exclusively...
Some of the conquerors themselves are alarmed at the trend. U.S. businessmen, who have found themselves undersold in foreign markets by 40% or more on such items as X-ray equipment and cement-making machinery, are getting out their storm warnings. Some British firms are so worried that they are already bluntly reminding their customers that the Germans who today are winning export business away from the British are the" same ones who yesterday made the V-25 that bombed London. Headlined Lord Beaverbrook's London Daily Express: THEY'LL BEAT YOU YET, THESE GERMANS...