Word: accutron
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Dates: during 1980-1989
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Enter the gray marketers. They buy their products in Europe, Asia and elsewhere instead of getting them from authorized U.S. distributors. K mart last year spent about $100 million on gray-market imports, including Swiss- made Accutron watches that it sells for less than $100, or about half the manufacturer's suggested price. Says Robert Stevenson, K mart vice president: "There is no reason to pay unreasonable prices to the manufacturer's U.S. distributor when you can obtain exactly the same products at lower cost overseas." Importers have even invaded the market for heavy machinery. Caterpillar excavators imported from France...