Value Pricing' Pays Off

The U.S. consumer market has not been kind to Procter & Gamble Co. lately. In the past three years, cash-strapped buyers have cut back on purchases or traded down to lower-priced products, shunning P&G's premium brands. In diapers, a huge business for P&G, the company's market share is under 40%--up a bit in recent months but far below its nearly 50% share in the late 1980s.

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