Competitive response

When the Procter & Gamble Co. tried to muscle into the orange-juice business, Coca-Cola’s Minute Maid and Beatrice’s Tropicana Brands spent an avalanche of ad money to stop P&G, says Michael Treacy in Double-Digit Growth (Portfolio). “After a few years and hundreds of millions of dollars of losses, P&G gave up. Procter learned the hard way: any assessment of industry attractiveness must include the likely competitive response.”
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