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States that while mature industries are a major part of the US economy, little empirical information is available on competitive strategies appropriate in the mature environment. Discusses, via a case study of the US hardwood lumber industry, the idea that cost‐based strategies based on Overall Cost Leadership are not sufficient for mature basic industries. Concludes that the results offer understanding of the strategic changes which can occur during the maturity stage of the industry life cycle and recommends possible ways of competing in this environment.

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Describes the uses and advantages of perceptual mapping, a consumer‐based modelling technique having both diagnostic and strategic applications, particularly in determining the threat posed by substitute products and in developing competitive strategies. Uses a case study approach of analysing companies in traditional manufacturing industries who are attempting to move from basic commodities to faster growing “value‐added” products. Concludes that perceptual maps are effective in developing new products and product positioning and can be easily used by managers in developing actions.

No abstract