Word: markup
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...gross as little as $50,000 a year, to the "Foodliner," which grosses an average of $90,000 a week. To the central office, grocers pay $600,000 a year in dues ($5.75 a month per store) and special service fees. In return, they can buy at a low markup (3½% to 4%) from wholesalers, get window posters, market information,and help with anything from store budgeting to personnel problems. Another $650,000 a year is paid to Food Brokers, Inc., which furnishes wholesalers with I.G.A.-brand items (accounting for 10% of store sales...
...only worth every penny they cost, but even more. For example, Manhattan's Sophie of Saks Fifth Ave. custom salon, where cocktail dresses sell for as much as $695, just manages to break even; the salon is operated only for the prestige it brings to the store. The markup for expensive clothes is heavy-up to 100% of cost-but it has to be so to cover overhead. At a high-fashion house like Nettie Rosenstein, the cost of designing a dress and turning out one sample may come to more than $1,000; so few copies are sold...
...kept the bicorne-hatted Napoleonic figure as a symbol, but toned down the goofiness of his ads. Says he: "We have to deal with bankers now, and bankers are very stuffy people." But he has used the same drumfire method (including skywriting) to sell his sets. Furthermore, his markup is so low (only about 20% above cost) that his is one of the few sets whose "list" price discount houses can seldom shade. He built volume on a slim profit; last year's $49.9 million sales yielded only $691,657 net, after taxes. Nobody knows whether Muntz will survive...
...begun last spring, both associations have now promised to give up their restrictive, price-boosting practices. Because they signed a consent decree, the details of how much they had hiked the costs of medical care and surgery were not disclosed. But it was known that on some items the markup between manufacturer and buyer (doctor or hospital) had been as high as 600%. In the end, of course, the patient paid...
...stripling from Galveston, Texas, got a job in Chicago's Lord & Thomas agency in 1898, advertising was in its horse & buggy stage. Ad agencies were little more than space brokers. They bought space in newspapers and magazines at cut-rate, and resold it to advertisers at whatever markup they could get. They prepared little copy or art work. Lasker, who displayed a hypnotic, golden-tongued salesmanship from the start, soon changed all that. He laid out ad campaigns with newsy headlines and drawings, insisted on a 15% commission on the price of the ads. Thus he helped establish...