Commoditize the complement
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Commoditize the complement
complements If two goods are complements a decrease in the price of one good leads to an increase in the demand for the other good.
Alex Taborrok • Modern Principles of Economics
Companies selling cars, cereal, and printers benefit when prices decrease for gasoline, milk, and ink, because the total price of a product includes the product plus anything else you need to maximize its potential--the complement.
Jesse Walden • Product vs. Protocol: Finding a Balance in Web3 – Variant
sari added
In my conversations with executives, I regularly meet managers who describe their products and services as being commoditized; there is no way to raise customer WTP. (I confess I am usually skeptical. I never quite know if “commoditization” reflects an incontrovertible industry fact or a lack of imagination.)
Felix Oberholzer-Gee • Better, Simpler Strategy: A Value-Based Guide to Exceptional Performance
substitutes If two goods are substitutes a decrease in the price of one good leads to a decrease in demand for the other good.
Alex Taborrok • Modern Principles of Economics
This is what commoditization is. It is when a resource becomes so ubiquitous that it loses its perceived value.
Simon Sinek • Leaders Eat Last: Why Some Teams Pull Together and Others Don't
End users apart, every other participating group is a potential complementor, a provider of products or services that are complements to the software platform and that therefore enhance the value of the platform when their quality increases or their price falls.2 Hotel rooms in Las Vegas and flights to Las Vegas are complements; hotel rooms in Las
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