Marlboro Friday refers to April 2, 1993, when Philip Morris announced a 20% price cut to their Marlboro cigarettes to fight back against generic competitors, which were increasingly eating into their market share.[1]
Marlboro cigarettes in a pack
As a result, Philip Morris's stock fell 26%, and the share value of other branded consumer product companies, including Coca-Cola and RJR Nabisco, fell as well. The broad index fell 1.98% that day. Fortune magazine deemed Marlboro Friday "the day the Marlboro Man fell off his horse."[2] Philip Morris investors interpreted the price slash as an admission of defeat from the Marlboro brand, evidence that Philip Morris could no longer justify its higher price tag and now had to compete with generic brands.
At the time, this event was regarded as signifying "the death of a brand" and the advent of a "value-minded" consumer generation who pay more attention to the real value of products and not the brand names.[citation needed] This view soon proved to be incorrect, with the rest of the decade's economy as well as the 2000s to present being dominated by brands and driven by high-budget marketing campaigns.[3]
^Erdman, Andrew (1993-05-03). "Fall for Philip Morris". Fortune. Retrieved 2010-06-10.
^"Marlboro Friday: The Stock Market Shock That Nearly Tanked an Iconic Brand". HISTORY. 2023-06-01. Retrieved 2023-11-14.
External linksedit
Marlboro Friday at Investopedia.com
April 11, 2024
marlboro, friday, refers, april, 1993, when, philip, morris, announced, price, their, marlboro, cigarettes, fight, back, against, generic, competitors, which, were, increasingly, eating, into, their, market, share, marlboro, cigarettes, packas, result, philip,. Marlboro Friday refers to April 2 1993 when Philip Morris announced a 20 price cut to their Marlboro cigarettes to fight back against generic competitors which were increasingly eating into their market share 1 Marlboro cigarettes in a packAs a result Philip Morris s stock fell 26 and the share value of other branded consumer product companies including Coca Cola and RJR Nabisco fell as well The broad index fell 1 98 that day Fortune magazine deemed Marlboro Friday the day the Marlboro Man fell off his horse 2 Philip Morris investors interpreted the price slash as an admission of defeat from the Marlboro brand evidence that Philip Morris could no longer justify its higher price tag and now had to compete with generic brands At the time this event was regarded as signifying the death of a brand and the advent of a value minded consumer generation who pay more attention to the real value of products and not the brand names citation needed This view soon proved to be incorrect with the rest of the decade s economy as well as the 2000s to present being dominated by brands and driven by high budget marketing campaigns 3 References edit Liberto Daniel Marlboro Friday Definition Investopedia Retrieved 2021 01 01 Erdman Andrew 1993 05 03 Fall for Philip Morris Fortune Retrieved 2010 06 10 Marlboro Friday The Stock Market Shock That Nearly Tanked an Iconic Brand HISTORY 2023 06 01 Retrieved 2023 11 14 External links editMarlboro Friday at Investopedia com Retrieved from https en wikipedia org w index php title Marlboro Friday amp oldid 1216746249, wikipedia, wiki, book, books, library,
