Business & Finance: Philip Morris Plan

Selling cheap and advertising dear is the standard formula for making big money out of cigarets. The big Three—Camel, Chesterfield, Lucky Strike—wholesale for $6.10 per 1,000, of which $3 is Federal tax. Because they cannot afford to lose their mass markets they must pour many more millions into advertising than less popular brands. And because each of them sells upwards of 30 billion cigarets a year, they can afford to.

Less popular brands are constantly trying to find chinks in the iron-clad hold which the Big Three have on the mass market. During Depression...

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