Marlboro Friday

Marlboro Friday

April 2, 1993. On this day, Philip Morris, the cigarette maker, told the market it would cut its prices to compete with generic brands. This marked part of a larger movement in the market away from consumer loyalty to brand name cigarettes. Philip Morris lost about a quarter of its share price and $10 billion in market capitalization on this day.
References in periodicals archive ?
Reynolds, a junior at Shrewsbury, caught a 61-yard strike from Mike Coggeshall with 1:42 left, leading the Colonials to a 14-12 win over Marlboro Friday night.
Then came "Marlboro Friday," when Philip Morris slashed the price of a pack of cigarettes.
Known as "Marlboro Friday," this self scarification -- inflicted by the world's largest packaged goods marketer on its most powerful brand -- triggered a chain reaction.
A year later, what is the impact of "Marlboro Friday" on the marketing world?
CUTLINE: (1) COSTUME PARADE: A costumed observer watches children in costume parade down Main Street in Marlboro Friday. (2) Suspect