Examines the shift in priorities of US industrial firms from those of securing market share by means of product innovation and aggressive pricing strategy to that of the achievement of short‐term objectives such as the satisfaction of financial markets and shareholders. Describes an eight‐year study tracking the use of pricing strategy by industrial firms in the 1980s, situating them in the wider context of Japanese‐led changes to the US market during that period. Concludes that instead of reacting defensively, abandoning pricing as a market strategy or using it for short‐term profitability, US business should concentrate on product innovation/development and the pursuit of long‐term profit goals via marketing and pricing strategies appropriate to the external marketplace.
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