DOCSLIB.ORG

The Dominance of Intellectual Property

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Dominance of Intellectual Property 3143 P-01 3/23/99 10:07 AM Page 1 1 The Dominance of Intellectual Property 1.1 Eclectic Science 3 1.2 Paradigm Shift 4 1.3 Looking at Intellectual Property Value 6 (a) H. J. Heinz Company 7 (b) Johnson & Johnson 10 (c) Merck & Company 10 (d) Microsoft Corporation 11 (e) Minnesota Mining & Manufacturing Company (3M) 13 (f) Philip Morris Company 13 (g) Nike, Inc. 14 (h) Procter & Gamble Company 15 1.4 Investment Performance 15 (a) Intellectual Property Infringement Damages 17 (b) Patent Infringement Damages 17 (c) Trademark Infringement Damages 18 (d) Copyright Infringement Damages 18 1.5 Overview of This Book 19 010 3143 P-01 3/23/99 10:07 AM Page 2 3143 P-01 3/23/99 10:07 AM Page 3 ntellectual property is the central resource for creating wealth in Ialmost all industries. The foundation of commercial power has shifted from capital resources to intellectual property. In fact, the def- inition of capital resources is shifting. No longer does the term capital resource bring to mind balance sheets of cash or pictures of sprawling manufacturing plants. The definition of capital includes intellectual property such as technological know-how, patents, trademarks, copy- rights, and trade secrets. Corporations once dominated industries by acquiring and managing extensive holdings of natural resources and manufacturing facilities. Barriers to entry were high because enormous amounts of fixed asset investments were required to displace well- entrenched players. Today, companies that once dominated industries are finding themselves fighting for survival. Up-start companies are creating new products and services based, not on extensive natural resource holdings or cash hordes, but on intellectual property resources. Management of these properties will determine the winners from the losers in the decades ahead. 1.1 ECLECTIC SCIENCE Dr. Leroy Hood was recently featured in a front-page story of The Wall Street Journal. He is in the business of automating the process biotechnology scientists’ follow to find the defective genes underlying cancer. The search must be conducted among the 100,000 genes that comprise the human species. Making matters more complicated, the current process is slow and tedious because precisely measured solu- tions must be manually shuttled among hundreds of test tubes. Dr. Hood is changing the process by combining a broad range of technologies. 030 3143 P-01 3/23/99 10:07 AM Page 4 THE DOMINANCE OF INTELLECTUAL PROPERTY One of his machines identifies the sequence of the three billion mole- cules that make up human DNA and does it 60 times faster than man- ual methods. He has accomplished this by bringing biotechnology together with computer science, mechanical engineering, physics, liq- uid science, optics, and electronics. Dr. Hood exemplifies the trend that all businesses must now follow if they are to be successful. He marries established ideas and technologies from far flung fields. In less than ten years corporations have been faced with techno- logical advances including the continued miniaturization of electronics and widespread communications without wires. Surgical equipment manufacturers are facing increased use of noninvasive surgical tech- niques. Computer makers have seen their mainframe businesses lit- erally reduced to, and replaced by, a tabletop model. CD-ROMs are killing traditional encyclopedia sales. All of these changes are tech- nology based. As a result, all corporations need more technology and it is often the kind they do not possess. The New World order is defined by change. The leaders in this tumultuous environment will be those that embrace change. Change is coming fast and it keeps com- ing—all driven by technology. Time to gain expertise in all the differ- ent technologies required to compete does not exist. There is no room for the old “not-invented-here” mindset. The pace of change does not afford any company the luxury of developing expertise in all the diver- gent technologies that it needs. It is even doubtful that such a wide ranging goal could be accomplished. 1.2 PARADIGM SHIFT In the world before the Industrial Revolution, early man moved away from a hunter-gatherer economy to an agriculturally based economy. Our ancestors roamed across large expanses in search of animals to hunt. Self-sufficiency dominated this model. A major shift occurred when early humans decided to stay in one place and grow the materials 040 3143 P-01 3/23/99 10:07 AM Page 5 1.2 PARADIGM SHIFT that they needed for survival. As an enterprise, agriculture employed virtually everyone in the world not living in the cities and used them in a series of repetitive tasks, done sequentially every season; pre- paring the ground, seeding, tending, harvesting. Then the cycle was repeated. In the agricultural paradigm, the amount of sun, rain, and tem- perature were vital to a successful season. People became accustomed to dealing with cycles measured in terms of days and seasons. Most farms were small and capable of supporting only one family, reinforc- ing mankind’s desire to be self-sufficient. Over time, however, it became clear to some that the agricultural society was constrained by two key elements: labor and land. Farming at a higher level of out- put—above mere subsistence—required more land and more labor. Expansion of the agricultural economy required collective work and abandoning elements of self-sufficiency. The Industrial Revolution created a new paradigm. Fueled by a world-wide affluence and an expanding population, the industrial revolution was triggered by technology and the realization that some products could be mass-produced and sold much more cheaply than similar hand-crafted products. The new paradigm of economic be- havior evolved into one requiring large amounts of capital for the pur- chase of buildings, machinery, and equipment. Companies were formed to raise the needed capital and individualism initially took another step backwards. The new companies soon learned that the cost of produc- ing their goods meant not only controlling the manufacture of prod- ucts, but also that vertical integration enhanced cost controls and profits. Soon, large companies were acquiring their suppliers of coal, suppliers of rail transportation, and finally the retailers that sold the manufac- tured products. The new mega-companies desired to become entirely independent with regard to all of the functions required to obtain raw materials, produce sub-assemblies and component parts, produce fin- ished goods, and retail them to the consumer. Self-sufficiency once again reigned, but this time in the form of a different kind of collec- tive: the mega-company. 050 3143 P-01 3/23/99 10:07 AM Page 6 THE DOMINANCE OF INTELLECTUAL PROPERTY The Intellectual Property Age is now upon us and the new para- digm is yet to be fully played out, but clearly the trend again contin- ues away from independence and toward a vital need for the talents of others. Interdependence is at the root of the paradigm shift taking place. Technology management in the future will center on leveraging technology that is owned to gain access to technology that is needed. Sharing technology is a concept many will find difficult to accept but accept it they must. Denis Waitley writes in Empires of the Mind,1 “The leaders of the present and the future will be champions of coop- eration more often than of competition. While the power to maintain access to resources will remain important, ‘the survival of the fittest’ mentality will give away to survival of the wisest, a philosophy of understanding, cooperation, knowledge, and reason.” Access to vital resources has changed because the nature of the most important resources is no longer embodied in fixed material assets. Gaining access to technology means cooperating with other companies, even competitors, in order to gain access to their knowledge-based resources. Independence is being replaced by interdependence. Waitley succinctly explains, “The future leaders will only get what they want by helping others get what they want.” This point was previously illustrated by the story about Dr. Leroy Hood who uses technology from far-flung fields to accomplish his goals. 1.3 LOOKING AT INTELLECTUAL PROPERTY VALUE Intangible assets and intellectual property dominate the value of busi- nesses. Here is a comparison of the market value of selected companies with the accounting value presented on their respective balance sheets. 1Denis Waitley. Empires of the Mind—Lessons to Lead and Succeed in a Knowledge- Based World, New York: William Morrow and Company, Inc., 1995, page 8. 060 3143 P-01 3/23/99 10:07 AM Page 7 1.3 LOOKING AT INTELLECTUAL PROPERTY VALUE The market value has been determined by combining the total stock value of shareholders’ equity and the book value of long-term debt.2 When this value is compared to the balance sheet for different asset cate- gories a huge gap of value is identified. The gap represents the aggregate value of all intangible assets and intellectual property of a company. A diverse group of companies has been selected for this analy- sis. They represent a broad cross-section of industries, all of which show a significant gap in accounting for intellectual property and intangible asset values.3 The following companies have been selected to demonstrate the dominance of intangible assets and intellectual property, not only for specific companies but also for a broad cross section of industries: Company Industry Heinz Food Johnson & Johnson Medical Merck Pharmaceutical Microsoft Computer Software Minnesota, Mining & Manufacturing (3M) Industrial Philip Morris Tobacco Nike Apparel Procter & Gamble Consumer (a) H. J. Heinz Company H. J. Heinz is not a glitzy entertainment company or a high-tech telecommunications company. Heinz is a food company that is the leading producer of ketchup with over 50 percent of the U.S.
Load more

Recommended publications
  • Second Time Moms & the Truth About Parenting
    Second Time Moms & The Truth About Parenting Summary Why does our case deserve an award? In the US, and globally, every diaper brand obsesses about the emotion and joy experienced by new parents. Luvs took the brave decision to focus exclusively on an audience that nobody was talking to: second time moms. Planning made Luvs the official diaper brand of experienced moms. The depth of insights Planning uncovered about this target led to creative work that did a very rare thing for the diaper category: it was funny, entertaining and sparked a record amount of debate. For the first time these moms felt that someone was finally standing up for them and Luvs was applauded for not being afraid to show motherhood in a more realistic way. And in doing so, we achieved the highest volume and value sales in the brand’s history. 2 Luvs: A Challenger Facing A Challenge Luvs is a value priced diaper brand that ranks a distant fourth in terms of value share within the US diaper category at 8.9%. Pampers and Huggies are both premium priced diapers that make up most of the category, with value share at 31, and 41 respectively. Private Label is the third biggest player with 19% value share. We needed to generate awareness to drive trial for Luvs in order to grow the brand, but a few things stood in our way. Low Share Of Voice Huggies spends $54 million on advertising and Pampers spends $48 million. In comparison, Luvs spends only $9 million in media support. So the two dominant diaper brands outspend us 9 to 1, making our goal of increased awareness very challenging.
    [Show full text]
  • Innovation Is P&G's Life Blood
    Innovation is P&G Innovations P&G’s Life Blood It is the company’s core growth strategy and growth engine. It is also one of the company’s five core strengths, outlined for focus and investment. Innovation translates consumer desires into new products. P&G’s aim is to set the pace for innovation and the benchmark for innovation success in the industry. In 2008, P&G had five of the top 10 new product launches in the US, and 10 of the top 25, according to IRI Pacesetters, a report released by Information Resources, Inc., capturing the most successful new CPG products, as measured by sales, over the past year. Over the past 14 years, P&G has had 114 top 25 Pacesetters—more than our six largest competitors combined. PRODUCT INNOVATION FIRSTS 1879 IVORY First white soap equal in quality to imported castiles 1901 GILLETTE RAZOR First disposable razor, with a double-edge blade, offers alternative to the straight edge; Gillette joins P&G in 2005 1911 CRISCO First all-vegetable shortening 1933 DREFT First synthetic household detergent 1934 DRENE First detergent shampoo 1946 TIDE First heavy-duty The “washday miracle” is introduced laundry detergent with a new, superior cleaning formula. Tide makes laundry easier and less time-consuming. Its popularity with consumers makes Tide the country’s leading laundry product by 1949. 1955 CREST First toothpaste proven A breakthrough-product, using effective in the prevention fluoride to protect against tooth of tooth decay; and the first decay, the second most prevalent to be recognized effective disease at the time.
    [Show full text]
  • Procter & Gamble Ecosystem
    The Procter & Gamble Company 1 Procter & Gamble Plaza Procter & Gamble Ecosystem Cincinnati, Ohio 45202 Phone: (513)-983-1100 www.us.pg.com Outside Relationships Outside Relationships The Procter & Gamble Company (Ohio Corporation) Securities Regulators Capital Suppliers Customers Regulation Customers Suppliers Capital Regulators and NYSE Bond Lenders Debt Structure Equity Structure Listing Rules Securities Financing Debt ($34.6 Billion as of 6/31/20) Credit Ratings (Senior Unsecured): AA- (S&P); Aa3 (Moody’s) Equity Convertible Class A preferred stock, stated value $1 per share (600 shares Regulators Bondholders Equity Working Capital authorized) Significant Short-Term Debt: $5B 2020 Maturity: $1.27zB @ 2022 Maturity: 3.37B @ 2024 Maturity: 1.46B @ Capital US Financing 2023 Revolving Credit 2020-2021 Maturity Remaining years (2026- Shareholders Commercial Paper Debt avg 3.08% avg 2.14% avg 0.58% Non-Voting Class B preferred stock, Class C Capital Stock Securities Commercial Foreign Currency, Facility ($4.0B; $0 (ESOP Notes): $119M 50): $10.98B @ avg Financing (Non- 2021 Maturity: 2.32B @ 2023 Maturity: 2.4B @ 2025 Maturity: 750M @ stated value $1 per share (200 shares (350M Shares Authorized; 340,979,832 Professional and Banks Cash Flow, and Drawn as of 12/31/19) @ avg 9.36% 3.14% Vanguard Interest Rate Outstanding as of 12/31/19) avg 1.85% avg 1.95% avg 2.55% authorized) Shares Outstanding) Services Firms Group (8.48%) Exchange Derivatives Commission SSgA Funds Hedging Ernst & Young Communications Finance and Operatons Professional Management New York Counterparties Governance Human Resources Corporate Matters (Auditing Services) Services (4.68%) Stock (e.g., Banks) Board of Directors Digital and Social Media Finance and Accounting Committees: Audit Talent Recruitment/Diversity Legal Exchange Jones Lang BlackRock Francis S.
    [Show full text]
  • Annual Report Worldreginfo - 1406D2bb-18Df-4748-A55f-0998B0bfcc11 Financial Highlights (Unaudited) Amounts in Billions, Except Per Share Amounts
    2017 Annual Report WorldReginfo - 1406d2bb-18df-4748-a55f-0998b0bfcc11 Financial Highlights (unaudited) Amounts in billions, except per share amounts 2017 2016 2015 2014 2013 2017 NET SALES BY 2 Net Sales $65.1 $65.3 $70.7 $74.4 $73.9 BUSINESS SEGMENT Operating Income $14.0 $13.4 $11.0 $13.9 $13.1 Net Earnings $ $10.5 $7.0 $11.6 $11.3 Attributable to P&G 15.3 Net Earnings Margin from % 15.4% 11.7% 14.3% 14.0% Continuing Operations 15.7 Diluted Net Earnings Baby, Feminine, per Common Share from $ $3.49 $2.84 $3.63 $3.50 3.69 and Family Care 28% Continuing Operations 1 Diluted Net Earnings Beauty 18% $ $3.69 $2.44 $4.01 $3.86 per Common Share 1 5.59 Fabric and Home Care 32% Operating Cash Flow $12.8 $15.4 $14.6 $14.0 $14.9 Health Care 12% Grooming 10% Dividends per $ $2.66 $2.59 $2.45 $2.29 Common Share 2.70 2017 NET SALES BY MARKET MATURITY 2017 NET SALES BY GEOGRAPHIC REGION Developed Markets 65% Developing Markets 35% North America 45% Europe 23% Latin America 8% Asia Pacific 9% India, Middle East, Greater China 8% and Africa (IMEA) 7% (1) Diluted net earnings per common share are calculated based on net earnings attributable to Procter & Gamble. (2) These results exclude net sales in Corporate. VARIOUS STATEMENTS IN THIS ANNUAL REPORT, including estimates, projections, objectives and expected results, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are generally identified by the words “believe,” “expect,” “anticipate,” “intend,” “opportunity,” “plan,” “project,” “will,” “should,” “could,” “would,” “likely” and similar expressions.
    [Show full text]
  • Easy Steps! Redeem In
    Choose a FREE BACKPACK when you spend $50 on your favorite participating P&G brands.* *Terms apply. See reverse side for details. Redeem in Easy Steps! 3 OR fill out mail-in form on back Buy $50 Snap Upload at of participating a photo of PGHaulPass.com 1 P&G products 2 your receipt 3 How to Receive Your Reward: Please allow 4-6 weeks for delivery of your reward BUY Important Information: Limit one (1) reward per person. Product exclusions apply. A limited $50 worth of P&G products in one transaction, before taxes and after all other discounts and coupons number of rewards are available, while supplies last. P&G reserves the right to substitute the reward are applied. Purchase must be made between 6/25/2019 and 10/7/2019. Submission must be offered for an item of equivalent value, if available. Trust is a cornerstone of our corporate mission and postmarked or submitted online by 10/14/2019. the success of our business depends on it. P&G is committed to maintaining your trust by protecting MAIL the personal information we collect about you, our customers. For full details of our privacy statement In a first class stamped envelope, mail: visit www.pg.com/privacy/english/privacy_notice.html. -This original form Please print clearly; proper delivery depends on a complete and correct form. - Original dated sales receipt with store name and product price(s) circled to the following address: Backpack Telephone number and email address will only be used to provide order status, PO Box 49233 Dept PG-294 clarify information and send reward.
    [Show full text]
  • FORM 10-K Annual Report Pursuant to Section 13 and 15(D)
    SECURITIES AND EXCHANGE COMMISSION FORM 10-K Annual report pursuant to section 13 and 15(d) Filing Date: 2021-08-06 | Period of Report: 2021-06-30 SEC Accession No. 0000080424-21-000100 (HTML Version on secdatabase.com) FILER PROCTER & GAMBLE Co Mailing Address Business Address ONE PROCTER & GAMBLE ONE PROCTER & GAMBLE CIK:80424| IRS No.: 310411980 | State of Incorp.:OH | Fiscal Year End: 0630 PLAZA PLAZA Type: 10-K | Act: 34 | File No.: 001-00434 | Film No.: 211153175 CINCINNATI OH 45202 CINCINNATI OH 45202 SIC: 2840 Soap, detergents, cleang preparations, perfumes, cosmetics 5139831100 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark one) [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 TRUE For the Fiscal Year Ended June 30, 2021 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 False For the transition period from to Commission File No. 1-434 Cincinnati THE PROCTER & GAMBLE COMPANY OH One Procter & Gamble Plaza One Procter & Gamble Plaza, Cincinnati, Ohio 45202 45202 513 Telephone (513) 983-1100 983-1100 IRS Employer Identification No. 31-0411980 31-0411980 State of Incorporation: Ohio OH Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, without Par Value PG New York Stock Exchange 2.000% notes
    [Show full text]
  • PROCTER & GAMBLE Co Form 10-K Annual Report Filed 2017-08-07
    SECURITIES AND EXCHANGE COMMISSION FORM 10-K Annual report pursuant to section 13 and 15(d) Filing Date: 2017-08-07 | Period of Report: 2017-06-30 SEC Accession No. 0000080424-17-000047 (HTML Version on secdatabase.com) FILER PROCTER & GAMBLE Co Mailing Address Business Address ONE PROCTER & GAMBLE ONE PROCTER & GAMBLE CIK:80424| IRS No.: 310411980 | State of Incorp.:OH | Fiscal Year End: 0630 PLAZA PLAZA Type: 10-K | Act: 34 | File No.: 001-00434 | Film No.: 171011509 CINCINNATI OH 45202 CINCINNATI OH 45202 SIC: 2840 Soap, detergents, cleang preparations, perfumes, cosmetics 5139831100 Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark one) [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2017 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-434 THE PROCTER & GAMBLE COMPANY One Procter & Gamble Plaza, Cincinnati, Ohio 45202 Telephone (513) 983-1100 IRS Employer Identification No. 31-0411980 State of Incorporation: Ohio Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, without Par Value New York Stock Exchange, NYSE Euronext-Paris Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No o Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.
    [Show full text]
  • The Procter & Gamble Company
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark one) [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2018 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-434 THE PROCTER & GAMBLE COMPANY One Procter & Gamble Plaza, Cincinnati, Ohio 45202 Telephone (513) 983-1100 IRS Employer Identification No. 31-0411980 State of Incorporation: Ohio Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, without Par Value New York Stock Exchange, NYSE Euronext-Paris Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No o Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes o No þ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
    [Show full text]
  • Annual Report Table of Contents
    2018 Annual Report Table of Contents Letter to Shareowners i Company and Shareholder Information 75 Five Measures of Noticeable Superiority iv Company Leadership 76 P&G’s 10-Category Portfolio xii Board of Directors 77 Form 10-K xiii Recognition and Commitments 78 Measures Not Defined Citizenship Inside Back Cover by U.S. GAAP 74 FINANCIAL HIGHLIGHTS (UNAUDITED) Amounts in billions, except per share amounts 2018 2017 2016 2015 2014 Net Sales $66.8 $65.1 $65.3 $70.7 $74.4 Operating Income $13.7 $14.0 $13.4 $11.0 $13.9 Net Earnings Attributable to P&G $9.8 $15.3 $10.5 $7.0 $11.6 Net Earnings Margin from Continuing Operations 14.8% 15.7% 15.4% 11.7% 14.3% Diluted Net Earnings per Common Share from Continuing Operations 1 $3.67 $3.69 $3.49 $2.84 $3.63 Diluted Net Earnings per Common Share 1 $3.67 $5.59 $3.69 $2.44 $4.01 Operating Cash Flow $14.9 $12.8 $15.4 $14.6 $14.0 Dividends per Common Share $2.79 $2.70 $2.66 $2.59 $2.45 2018 NET SALES BY 2018 NET SALES BY 2018 NET SALES BY BUSINESS SEGMENT 2 GEOGRAPHIC REGION MARKET MATURITY Beauty 19% North America 3 44% Developed Markets 65% Grooming 10% Europe 24% Developing Markets 35% Health Care 12% Asia Pacific 9% Fabric & Home Care 32% Greater China 9% Baby, Feminine & Family Care 27% Latin America 7% India, Middle East & Africa (IMEA) 7% (1) Diluted net earnings per common share are calculated based on net earnings attributable to Procter & Gamble.
    [Show full text]
  • $148 $140 2/$2 $199 $151 $125 $302
    your VOL. 6 NO.1 JANUARY 6 - JANUARY 19 Gardetto's® Garlic Rye Chips 8.6 oz. $140 Keebler® Zesta® Original Saltine Crackers 16 oz. $148 Ritz® Family-Size Cheese Cracker Sandwich Packs 16 ct. $302 ® Chex Mix 8.75 oz. Sour Old El Paso® 8.8 oz. Select Nature ValleyTM Oats 'N Nabisco® Cheddar Cream and Onion or Ghost Varieties Taco Dinner Kit Chocolate Granola Snacks 5 ct. ® Pepper Snack Mix 51 Cheese Nips 11 oz. $125 $1 $199 2/$2 your DISCLAIMER: PICTURES ARE FOR ILLUSTRATION ONLY. THE PRODUCTS INCLUDED IN THIS SALE MAY BE DIFFERENT FROM THOSE PICTURED. SOME ITEMS MAY NOT BE AVAILABLE AT ALL LOCATIONS. EFFECTIVE FOR CONUS STORES ONLY. Page 1 VOL. 6 NO. 1 JANUARY 6 - JANUARY 19 No more cutting out paper coupons. Save time and money with the Commissary Rewards Card! Simply pick up your Rewards Card at any location worldwide, CLICK HERE to register, and you're ready to start saving. We've specially selected coupons for our customers to help you make the most of your benefit! SAVE $100 SAVE 97 00 20 SAVE $5 $1 $4 00 00 00 -$1 Digital Coupon -$1 Digital Coupon $1 97 79 $4 Final Price 20 ® $3 Final Price $4 Save $1.00 on ONE (1) Bounty Paper ® 00 Save $1.00 on any ONE (1) José Olé Snack -$1 Digital Coupon Towel product 4 ct. or larger (includes 2 Huge Roll). Expires: 1/25/20 (16 oz. or larger) or Burrito Bowl (10 oz.). 79 Expires: 3/1/20 $3 Final Price Save $1.00 on ONE (1) Downy® Liquid Fabric Conditioner (Includes Downy® Odor Protect 32oz.
    [Show full text]
  • Family Market
    Owned & Operated by the Marrazzo Family Serving... Mercer County Since 1947 Serving IGA Private Label to our valued customers Gourmet Fruit or Gift Baskets Call Andrea to place your order FFamilyamily MMarketarket Local delivery available Located at Serenity Plaza in The Heart Of The New Ewing Town Center 609.434.0020 www.MarrazzosMarket.com 609.434.0020 Free Wireless Access in Marrazzo’s Cafe! Follow Us on Facebook & Twitter NO CLUB CARD NEEDED Visit our website: MarrazzosMarket.com, HOME DELIVERY NOW AVAILABLE! follow the link to order online! OPEN LABOR DAY MONDAY SEPTEMBER 6 - 7:00 A.M. UNTIL 6:00 P.M. $ 99 99 99 3fo r 1 3 1 lb. 2 California - Extra Large Driscoll’s Berry Patch - 6 oz. Fresh Sweet Whole Red White or Black Blackberries White Sweet Corn Seedless Watermelon Seedless Grapes or Raspberries 99 99 99 5 lb. 3 lb. 3 lb. Antibiotic Free - Trimmed Fresh Hand Trimmed Fresh Family Pack Skinless, Boneless Boneless Sirloin Steaks 80% Lean Ground Beef Chicken Breast 99 49 99 6 lb. 2 4 Fresh Skinless 16 oz. •Hot •Sweet 1.3 lb. package Wild Caught Hatfield Rope Shady Brook 93% Lean Haddock Fillets Italian Sausage Ground Turkey 99 VISIT OUR NEW FRESH 49 4 SEAFOOD DEPT! 3 • • • 12-16 oz. 12-12.8 oz. •8-12 Pack Oscar Mayer Bacon SALAD BAR IS OPEN! Kings Hawaiian Rolls •Nabisco 99 99 Snack 2 2 Crackers 48 oz. - Selected Varieties 52 oz. •Pure Premium Breyers Ice Cream Tropicana Orange Juice 3.5-9.01 oz. - Selected •Ritz Crackers $ 99 7.5-13.7 oz.
    [Show full text]
  • To Download the Official Mail-In Rebate Form, Visit Pgteamuptosave.Com TERMS and CONDITIONS: Rebate Issued Via Prepaid Card
    Receive a $10 Visa Prepaid Card by mail when you purchase $30 of P&G products in one (1) transaction from ShurSave Supermarkets Qualifying purchases must be made 9/21/16 through 12/31/16 To download the official mail-in rebate form, visit pgteamuptosave.com TERMS AND CONDITIONS: Rebate issued via prepaid card. Offer limited to US residents only, 18 years of age or age of majority or older. Limit one refund per name, household, or address. Use of multiple addresses or P.O. boxes to obtain additional refunds is fraud and may result in prosecution. Prepaid card accepted where Visa® cards are accepted. Not redeemable as cash or usable at ATMs or gas pumps. Card expired 6 months from issuance. See store for official mail-in form. Terms of prepaid card apply. Multiple submissions will not be acknowledged or returned. Rebate applies to price paid after any coupon or discount has been applied. This form must accompany your request. If UPC and valid original dated receipt are not included in the request for rebate, your prepaid card will not be issues. Reproduction, alteration, sale, trade, or purchase of this official form or proof of purchase is prohibited. Proof of purchase must be obtained from product purchased by you. No requests from groups, clubs, or organizations will be honored. We will not honor incomplete submissions. Not responsible for lost, late, or undelivered submissions. Please allow 8-10 weeks for delivery. For the status of your rebate call 866-512- 8656. To redeem this offer at any participating ShurSave Supermarkets, purchase $30 of participating Procter & Gamble products: Align®, Always®, Aussie®, Bounce®, Bounty®, Camay®, Cascade®, Charmin®, Cheer®, Clearblue Easy®, Crest®, Dawn®, Dreft®, Era®, Febreze®, Fixodent®, Gain®, Gillette®, Gleem®, Glide®, Head & Shoulders®, Herbal Essences®, Ivory®, Joy®, Luvs®, Metamucil®, Mr.
    [Show full text]