The cost of producing a new—for example—toothpaste would make 80p the proper price for it, so we will market it at ￡1.20. It is not a bad toothpaste, and as people like to try new things it will sell well to start with; but the attraction of novelty soon fades, so sales will fall. When that happens we will reduce the price to ￡1.15. And we will turn it into a bargain by printing 5p OFF all over it.

　　Sometimes it is not 5p OFF but 1p OFF. What breathtaking rudeness to advertise 1p OFF your soap or washing powder or whatever! Even the poorest old－age pensioner ought to regard this as an insult (侮辱), but he doesn't. A bargain must not be missed. People say one has to have washing powder (or whatever) and one might as well buy it a penny cheaper.

　　The real danger starts when unnecessary things become “bargains”. Many people just cannot resist bargains. Provided they think they are getting a bargain they will buy clothes they will never wear or furniture they have no space for. Once I heard of a man who bought an electric saw as a bargain and cut off two of his fingers the next day. But he had no regrets: the saw had been truly cheap.

　　Quite a few people actually believe that they make mon­ey on such bargains. A lady once told me: “I've had a lucky day today. I bought a dress for ￡120, reduced from ￡400; and I bought a beautiful Persian carpet for ￡600, reduced from ￡900.” It will never occur to her that she has actually wasted ￡720. She feels as though she had made ￡580. She also feels, I am sure, that if she had more time for shopping, she could make a living out of it.

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