One point these journalistsoverlooked is that in 1997, as in the twenty-four years immediately precedingit, the real GDP per capita grew nearly one-half percent a year more slowlythan it had on average between 1873 and 1973.
A price promotion does not increase the number of long-term customers of a brand, as it attracts virtually no new customers in the first place. Nor do price promotions have lingering aftereffects for a brand, even negative ones such as damage to a brand’s reputation or erosion of customer loyalty, as is often feared.
