chapter 6 section 2 rise of big business. review what business did carnegie invest and become rich...
TRANSCRIPT
![Page 1: Chapter 6 Section 2 Rise of Big Business. Review What business did Carnegie invest and become rich in? What is “vertical integration”? How did Rockefeller](https://reader036.vdocuments.us/reader036/viewer/2022082820/56649f565503460f94c7995f/html5/thumbnails/1.jpg)
Chapter 6 Section 2
Rise of Big Business
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Review
What business did Carnegie invest and become rich in?
What is “vertical integration”? How did Rockefeller become rich? What is “horizontal integration”?
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Cornelius Vanderbilt
Prior to Railroad– operated shipping business By 1869 gained control of New York Central and
2 others that connected New York City Soon controlled lines between Chicago,
Cleveland, New York, and Toledo Provided more efficient service by combining
small railroads By 1877 controlled 4,500 miles of track Personal fortune of $100 million
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George Westinghouse
1869 at age of 23 established Westinghouse Air Brake Company
After public demonstration of effectiveness of air brake his business grew
By 1874 air brake was on 7,000 passenger cars
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George Pullman
Built Railroad cars to make travel more comfortable
Built company town south of Chicago in 1880 Hoped to encourage educated, healthy, peaceful
and virtuous workers Provided homes, stores, church, library, theatre,
medical offices and athletic fields strictly controlled daily life in company town
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Mass Marketing
Persuade consumers to purchase products Brand names– name recognition
“Standard Oil”– implies standard for industry Packaging to set products apart
Helped create consumer culture Montgomery Ward and Sears, Roebuck and
Company– develop mail order catalogs
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Department Store
Variety of products under one store Buy in bulk and set cheap prices
Marshall Field– Chicago R.H. Macy– New York John Wanamaker– Philadelphia
Becomes domain of women Hired as workers Enticed to shop
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Chain Stores
Branch stores in many citiesWoolworths– Frank Woolworth in
1879By 1900 had 59 stores around
country