Glocks Secret Path to Profits
Gaston Glock, an Austrian manufacturer of shovels and knives, has made a fortune selling handguns in America. Starting in the early 1980s, Glock, a self-taught firearm designer, produced a new innovative pistol for the Austrian military.
Watch this Business week video - how many product features can you identify?
Glock's marketing strategy to enter the world's richest gun market - the USA was simple: persuade American police they needed a lightweight gun with more ammunition than traditional revolvers...then use the success of selling to law enforcement to promote his guns to private gun buyers.
Today the company claims 65% of the American law-enforcement market, an amazing success for a privately owned manufacturer based in tiny a tiny town in Austria.
Ethics? Well Glock's success has come at a price - he was the victim of an unsuccessful asssasination attempt in 1999, and the company is currently under investigation by the IRS (US tax authorities) for tax avoidance
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