Word: pricing
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Dates: during 1960-1969
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...Right Price. The fact that Ed Sullivan outdraws NBC's Dean Martin 28.4 million to 24.9 million may not be the decisive determinant for many prospective sponsors. For an advertiser of color-television sets or rent-a-cars, for example, the pivotally important fact is that Sullivan pulls only 16.3% of the TV families earning more than $10.000 a year, while NBC's Dean Martin attracts 23.4% in that bracket. Not surprisingly, then, Zenith and Hertz buy time on Martin while, in the main, mass-consumption products such as Nabisco crackers, Wesson oil and Hunt's tomato...
Sponsors also, of course, want not only the right audience but the right price. Take an item like Geritol. ABC's Lawrence Welk Show happens to be running 31st in the cumulative Nielsens, but demographic studies show that Welk is No. 1 for viewers who are 50 years and over. CBS's higher-rated Lucy pulls almost as many of the 50-plus folks and delivers a vast extra audience as well-but one that is not a likely market for Geritol. Geritol obviously gets more for its money paying about $3.40 for every 1,000 viewers over...
...Monet from a Manhattan gallery for $11,000. Last week The Terrace was up for auction at Christie's in London on behalf of Pitcairn's Beneficia Foundation. The winning bid of $1,410,000 by London Art Dealer Geoffrey Agnew was nearly triple the record auction price for a Monet and almost double that for any impressionist painting. The new auction high also firmed up the floor under top impressionist paintings. The price was right in line with the estimated $1,400,000 that London's National Gallery paid privately in 1964 for Cézanne...
...annually in bonuses and nonvoting shares to em ployees, amounting to about 15% of their salaries. Through councils in each store and a company-wide central council, a dialogue is kept going between management and "partners." The company also spends some $500,000 a year on cultural subsidies (half-price tickets to Covent Garden and the Old Vic) and such perks as clubs (30, from gardening to judo) and low-cost holidays in the company-owned Brownsea Castle at Poole Harbor...
...Bernard took over in 1955, expanded operations, notably by opening 15 supermarkets, but kept to the company motto, "Never knowingly undersold." Any customer who finds an item he bought at John Lewis selling for less elsewhere can get a refund of the difference. In line with its low-price policy, John Lewis has fought retail price fixing for decades. Only last summer the company had it out with the makers of Cadbury's chocolate, and sweet-toothed Britons gleefully watched the retail price of candy crumble...