of
people the best all-round service and then arrange to manufacture at the
very highest quality and sell at the very lowest price, you will be
meeting a demand which is so large that it may be called universal.
This is not standardizing. The use of the word "standardizing" is very
apt to lead one into trouble, for it implies a certain freezing of
design and method and usually works out so that the manufacturer selects
whatever article he can the most easily make and sell at the highest
profit. The public is not considered either in the design or in the
price. The thought behind most standardization is to be able to make a
larger profit. The result is that with the economies which are
inevitable if you make only one thing, a larger and larger profit is
continually being had by the manufacturer. His output also becomes
larger--his facilities produce more--and before he knows it his markets
are overflowing with goods which will not sell. These goods would sell
if the manufacturer would take a lower price for them. There is always
buying power present--but that buying power will not always respond to
reductions in price.
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