Word: undersold
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...image. Lighters and accessories represented 87% of the firm's $26 million sales when he became president in 1953; now they account for 64%, and the proportion is steadily decreasing. Faced with the necessity of diversifying or perishing in the 1950s after Ronson patents expired and imports undersold it, the company has moved into such activities as refining rare earths for color TV tubes and making hydraulic parts for jet planes and space satellites...
...with a kitty of $35,000 while more seasoned men went under. Simon was solvent in a promising buyer's market, and for $7,000 he bought a small, bankrupt Fullerton orange-juice plant. He renamed it Val Vita Products Inc., switched from bottles to cheaper cans, cut costs, undersold competitors and eventually switched the plant from orange juice to tomatoes. At that time, he was 25. In the next ten years, he raised Val Vita's sales from $43,000 to $9,000,000 a year...
...been no Korean or Suez crisis lately to drive up oil prices and tanker rates. Niarchos did make a bundle by hauling oil for the Russians, notably during the Cuban missile crisis. But some U.S. oil giants are mad at him for carrying cut-price Russian oil that undersold their own; they are at least informally boycotting Niarchos' vessels and building more and more of their own tankers. The Communists, instead of repaying Niarchos for past favors, are steadily gaining influence in some Greek seamen's associations, where they are making life rough for the shipowners...
...preoccupation of the store's executives. Vastness, variety and verisimilitude are parts of the image. So is Macy's reputation as a hard competitor. The store continues to collect millions worth of free publicity from its largely mythical war against Gimbels ("Macy's Will Not Be Undersold!"), even though Gimbels has long since been supplanted as New York's second largest store by Brooklyn's Abraham & Straus (in which Jack Straus's family held a major interest until 1913). Macy's also works at burnishing its reputation as an avid civic booster, buying...
...store, Macy's constantly tests and measures its markets, its merchandise and its competition. The arbiters of its prices are its 36 comparison shoppers. They roam competing stores, spying out new styles, feeling the materials and comparing prices. Whenever they find that Macy's is being undersold, they order the store to lower its prices. Not even Straus can countermand their instructions. Neither can he contradict Macy's own Bureau of Standards, the arbiter of the store's conscience. In a backstairs laboratory that looks like a bathroom choked with chemistry sets, the bureau puts...