““share. The company’s stock price immediately fell by 26% as the move was widely hailed as a disaster for premium brands. But it was not; it was just the end of a premium brand being overpriced; the problem was that Marlboro had opened up too big of a price premium, opening the door for all kinds of competitors. The event precipitated the end of cigarette price wars because many competitors were unable to compete with a more affordable Marlboro. Within two years, Philip Morris’s stock had fully recovered. The Canadian cola market has demonstrated time and again the consumer’s willingness to switch from Coca-Cola or Pepsi to private label colas if the price differential were greater than $1 for a box of 12 cans. Opening too big a price differential begins a price war by increasing the volume that moves around the market because of price.””
![“[S]ometimes, when you are a food person, the possible irrelevance of what you are doing doesn’t cross your mind until it’s too late. (Once, for example, when I was just starting out in the food business, I was hired by the caper people to develop a lot of recipes using capers, and it was weeks of…” quote by Nora Ephron](https://sms4smile.com/quotes/img-quotes/d79/nora-ephron-1217_business_s-ometimes-when-you-are-a-food-person-th_980.jpg)
![“If the State does not acquire supremacy over [vast private] enterprises, it becomes their puppet, and they become the real State.” quote by Bertrand Russell](https://sms4smile.com/quotes/img-quotes/bad/bertrand-russell-69_acquire_if-the-state-does-not-acquire-supremacy_1379.jpg)