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Retailing under resale price maintenance: economies of scale and scope, and firm strategic response, in the inter-war British retail pharmacy sector

Scott, P. and Walker, J. T. (2018) Retailing under resale price maintenance: economies of scale and scope, and firm strategic response, in the inter-war British retail pharmacy sector. Business History, 60 (6). pp. 807-832. ISSN 1743-7938

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To link to this item DOI: 10.1080/00076791.2017.1340455

Abstract/Summary

The article examines the impact of resale price maintenance (RPM) on market structure, productivity, and competitive advantage in British retail pharmacy. In contrast to influential studies, but consistent with contemporary and recent work, it is shown that the major multiples were able to ameliorate the negative growth impacts of RPM. Higher profit margins ‒ principally from larger manufacturer discounts and backward integration – were used to fund initiatives aimed at boosting aggregate sales and economies of scale and scope. These relationships are explored using a recently discovered national establishment-level survey of retail pharmacists’ costs and margins, together with internal data for Boots Ltd.

Item Type:Article
Refereed:Yes
ID Code:71114
Uncontrolled Keywords:Business, Management and Accounting (miscellaneous), Business and International Management, History
Publisher:Taylor & Francis

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