Word: product
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Dates: during 1960-1969
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...officials have come closer than ever before to saying that recession may be the price of curbing inflation. At a meeting of the Business Council in Hot Springs, Va., Treasury Secretary David Kennedy predicted last week that in early 1970 there will be a decline in real gross national product. While Kennedy would not use the word recession, some economists define recession as a decline in real G.N.P. for two straight quarters...
General Mills, General Foods and other major food processors that have extensive low-calorie lines will most likely change to some other sweetener. "The public will continue to look for other diet products rather than return to sugar products," says Marvin Eisenstadt, an official of Cumberland Packing Corp., producers of Sweet 'N Low, a sugar substitute made of saccharin and a cyclamate. It is unlikely, however, that dieters will switch to saccharin, since it often leaves a bitter taste. Obviously a big pot of sugar awaits the inventor who can formulate a new product that is safe, sweet...
...business today is rushing to develop more products with a shorter shelf life to satisfy the apparently insatiable and increasingly fickle consumer. Last year more than 9,500 new items were introduced in the consumer package-goods field alone, the area of greatest product turnover. Less than 20% met their sales goals; the cost of new-product failure to U.S. business is estimated to be well over $2 billion annually. Some highly promoted disappointments in recent years: Gablinger's Beer, Hunt's Flavored Catsups, Fact Toothpaste, Noxzema Medicated Cold Cream and Easy-Off Household Cleaner...
Crap Game. Undaunted, companies go right on turning out new products. Last week Honeywell introduced a $10,600 "kitchen computer" programmed to help the U.S. housewife plan her meals and balance her checkbook. Though Honeywell might sell some to millionaires who have everything, the product could be the precursor of much cheaper small computers for the home; other companies are already working on the idea. Singer recently announced that its Friden office-equipment division will bring out at least one new product a month for the next year. "Developing new products is like a gigantic crap game," says Boone Gross...
...there such a voracious demand for new products? The growth of affluence, travel, education and technology, plus saturation television advertising, have contributed to greater consumption. Items to exploit the anti-Establishment values of the youth market-mod clothes, poster art-and the comfort-seeking wants of the increasing number of old people added further to the product crush. As new products proliferate, consumer confusion intensifies and brand loyalty erodes, leading to the creation of still more new items...