BCG History: 1970

The Pricing Paradox and Prevailing Opinion

"The Pricing Paradox" asserts that of all the components of profit (cost, price, volume), price is the hardest to change, even in the presence of a price leader. This view challenges many widely held beliefs about the flexibility of this key component. More importantly, it is a precursor of the cost-consciousness that would mark the 1980s.

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  • U.S. troop strength in Vietnam is reduced to fewer than 400,000
  • West Germany and the U.S.S.R. sign a friendship treaty
  • U.S. troops invade Cambodia
  • Lateral Thinking, by Edward de Bono, is published
  • Minoru Takeyama designs Tokyo's newest department store, Ichi-Ban-Kan
  • The floppy disk is invented
  • The bear market hits bottom. The Dow drops to 631
  • The price of gold on the free market drops below the official price of $35 an ounce

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