Word: marketing
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Dates: during 1940-1949
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...survey of finance companies, the weekly Automotive News found that many thought the industry was beginning to price itself out of the market. Associates Discount Corp. reported that monthly payments "now run almost as high as two weeks' pay for the average factory worker." Gene Pratt, vice president of Detroit's Contract Purchase Corp., figured that 70% of potential new-car customers had been "absolutely" frozen out, thought the market could crack overnight...
...Shakeup. Ford also denied the possibility of a slump: "How can you be pricing yourself out of the market when your car is selling in used-car lots at a premium of from $500 to $1,000?" But Ford's own figures showed that each new price boost caused a significant shakeup in orders-with prospective Lincoln buyers shifting to Mercurys, Mercury prospects to Fords, Ford customers to used cars...
...slump. Swamped by offers of new cars (many from owners who could not keep up the payments), Rochester (N.Y.) lots were buying cars for $100 to $300 less than a month ago, despite new markups at the factories. On Detroit's Livernois Avenue, center of the used-car market, one dealer offered a month-old Lincoln coupé, which he bought for $3,559, for $3,350-with no takers...
...year-old President Ralph Kelly. In as executive vice president and operating boss went Westinghouse's longtime chief engineer, Texas-born Marvin W. Smith, 54. Smith's big job is to put Baldwin back into the running for a share of the booming diesel-electric locomotive market...
...industry dropped the basing-point system (TIME, July 19), Big Steel's Ben Fairless began to worry about the fate of Pittsburgh. Because it normally makes more steel than local industries can use, he thought some of the steel plants would have to move away to find a market. But last week, it seemed likely that the market would come to Pittsburgh...