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A black and white TV licence cost 7 in 1972 and a colour licence was 12 The purchase of the TV set dwarfed the cost of the licence: Clocks and watches The early years of the 1970s were the last years when mechanical watches were the first choice of most people

4 Analyses of industry documents suggest that, while this product innovation may have begun as an effort to manage risk, it evolved into large-scale consumer fraud as tobacco companies own research found filters had no material effect on eliminating toxins from smoke

This strategy works in markets where consumers resist frequent changes