Word: bristols
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...true... blondes have more fun?"). Clairol is test-marketing a line of lipsticks, nail polishes and other cosmetics keyed to its hair colors. In a business of tough competitors and fickle customers, Schwartz spends $10 million yearly to develop new products, more than $75 million on advertising. Among Bristol-Myers' contributions to American civilization: the first buffered aspirin (Bufferin), the first non-peroxide hair coloring (Born Blonde), the first roll-on deodorant...
...cultivating the first two goods, Frederic Schwartz's company has collected plenty of the third. Since he took charge in 1957 of the Bristol-Myers Co., whose attention to health and beauty is centered on products as varied as penicillin and Ipana, profits have risen an average of 20% a year and the company has become a Wall Street favorite. Last week Bristol-Myers reported that its earnings in 1964 jumped 21%, to $23 million, as sales rose 15% to $265 million...
...does Bristol-Myers do it? Schwartz, a balding and white-fringed executive of 58, runs the company by several credos. One is to blanket three expansive consumer markets-prescription drugs, over-the-counter drugs and beauty preparations-with Bristol-Myers products. Another is to pit the company's major divisions against one another by bringing out several types of the same product; thus Bristol-Myers markets a variety of hair tonics (Vitalis, Score, Fitch, Vitapointe), cold pills (Bromo-Quinine, Clinicin, 4-Way) and deodorants (Mum, Ban, Trig). Still another Schwartz principle is to stimulate in his subordinates what...
...joined up as a Pentagon civilian, headed the Army's blood-plasma and whole-blood programs, and eventually won a lieutenant colonel's leaf. In 1945 he joined Bristol-Myers, a business that had begun to grow arthritic, later became the first non-Bristol to boss the once family-run firm...
...Perfect Product. Competitors score their own firsts too, and Bristol-Myers responds by openly imitating them. It is bringing out Mum in an aerosol can to compete with Gillette's Right Guard. Schwartz has about ten products in the secret stage of development, but professes disappointment that his scientists have failed to devise the perfect product. "After all," he smiles, "we still don't have a pill to cure death or cussedness." He has, however, made a start on the latter: one of his major prescription drugs contains a tranquilizing agent...