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RG

IN CONTEXT

FOCUS

Defining quality

KEY DATES

1924 German pen maker Montblanc launches its luxury Meisterstück (“masterpiece”) fountain pen, which is still an icon of superior quality today.

1970 The Hamilton Watch Company develops the first digital watch. It succeeds despite its $2,100 price tag.

1985 Management guru Peter Drucker publishes Innovation and Entrepreneurship, which states that quality is the most important factor to affect sales. Drucker says that the consumer is the ultimate arbiter of a product’s quality.

2005 Entrepreneur Richard Branson announces that he plans to offer the first trips into space. The price of $120,000 fails to deter rich ...

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