Word: panschar
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Dates: during 1980-1989
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...forced to slash prices relentlessly. One private study indicates that 70% of all department-store sales are generated by price markdowns. Retailers generally like to sell merchandise for 40% more than its wholesale cost, but these days the margin has shrunk below 20% for many items. Says William Panschar, a professor of marketing at Indiana University: "I can't walk into a department store anywhere in the country and not feel that it's sale time all the time...
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