Today, firms have two generic strategic choices when pursuing profit maximisation: sell at low price to secure high volume, or produce distinctive goods in smaller volumes but with a large margin. In addition to these broad strategic options, branding is becoming more significant, opportunities to pursue niche strategies are more widely available, and greater attention is being devoted to quality of service and loyalty schemes. None of these developments is new. They have been evident to varying degrees and in different forms since a recognisably modern form of consumer society arose in the USA, Britain and Australia early in this century (consumerism appeared in Japan after 1950).
KeywordsTransaction Cost Intangible Asset Department Store Loyalty Scheme Market Sector
Unable to display preview. Download preview PDF.
- Dicke, T.S. (1992) Franchising in America (Chapel Hill: The University of North Carolina Press).Google Scholar
- Jefferys, J.B. (1954) Retail Trading in Britain, 1850–1950 (Cambridge: Cambridge University Press).Google Scholar
- Marchand, R. (1985) Advertising the American Dream (Berkeley: University of California Press).Google Scholar
- Partner, S. (2000) ‘Brightening Country Lives: Selling Electrical Goods in the Japanese Countryside, 1950–1970’, Enterprise and Society, 1 (4).Google Scholar
- Shammas, C. (1990) The Pre-industrial Consumer in England and America (Oxford: Clarendon Press).Google Scholar
- Strasser, S (1989) Satisfaction Guaranteed: The Making of the Mass Market (New York: Pantheon Books).Google Scholar
- Tedlow, R.S. (1990) New and Improved: The Story of Mass Marketing in America (New York: Basic Books).Google Scholar
- Wilkins, M. (1992) ‘The Neglected Intangible Asset: The Influence of the Trade Mark on the Rise of the Modern Corporation’, Business History, 34 (1).Google Scholar