Word: marketeers
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Dates: during 1930-1939
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Fortnight ago Frank R. Coutant, director of research for the advertising agency of Pedlar & Ryan, Inc., estimated that even though use of market research has jumped 50% in the last three years, U. S. industry is spending a mere $4,500,000 a year for it. (Estimated expenditure for engineering research: $300,000,000.) Only a handful of the biggest U. S. companies indulge in market research to an appreciable extent* and of these General Motors makes the biggest splash, spending something less than $500,000 a year for the purpose...
...this, Buck Weaver stoutly maintains, does not impair the scientific value of his findings. Some other market research experts disagree: and though they give him credit for doing more to popularize market research than anyone else, they declare that he could find out just as much without as much fuss...
...executive in the short-lived Sun Motor Car Co., finally hitched his trailer to a star in 1918 by joining Hyatt Roller Bearing Co. then headed by Alfred P. Sloan Jr.* When Hyatt was taken over by GM, Weaver was put to work on sales statistics and market analyses. In 1925 he won a Harvard Award for Market Research for a study of quantitative markets...
...Important corporate users of market research: Procter & Gamble Co.; Lever Bros.; Eastman Kodak Co.; General Foods Corp.; Du Pont; Goodyear Tire & Rubber Co.; American Telephone & Telegraph; General Electric Co.; Coca-Cola Co.; Standard Oil of Indiana; Swift & Co.; Bristol-Myers Co. Among important U. S. market researchers: A. C. Nielsen Co.; Percival White and Pauline Arnold of Market Research Corp. of America; Ross Federal Research Corp.; Archibald M. Crossley of Crossley, Inc.: Paul Terry Cherington; George Gallup; Daniel Starch; Henry Charles Link of the Psychological Corp.; McKinsey, Wellington & Co.; Paul Lazarsfeld; Elmo Roper (FORTUNE Surveys); Barrington Associates; C. E. Hooper...
...employment had been cut one-third, total production of 2,704,992 units was little more than half 1937's. But even this figure was nearly twice as high as 1932's Depression I low. And by the season's end the glutted used-car market was back to normal and only 90,000 new cars remained unsold, an almost unprecedented cleanout of the nation's 45,000 showrooms...