How to Effectively Compete Against Private-Label Brands
Susan R Ashley Director General, Europe, RSC: The Quality Measurement Company
April 2, 1993 was a historic day in the US private-label 'scare.' On 'Marlboro Friday', Philip Morris decreased the price on Marlboro cigarettes by 40 cents a pack in response to the increasing popularity of cheaper cigarettes. In one day, the company lost $13.4 billion in stock-market value. Ten days later, an article in Advertising Age magazine described this occurrence:
Philip Morris Cos cried, 'Enough.'
Wal-Mart Stores cried, 'Charge.'...