Sublime

In the real world outside economic theory, every business is successful exactly to the extent that it does something others cannot. Monopoly is therefore not a pathology or an exception. Monopoly is the condition of every successful business.

Again and again in business history, an unknown company has come from nowhere and in a few short years overtaken the established leaders without apparently even breathing hard. The explanation always given is superior strategy, superior technology, superior marketing, or lean manufacturing. But in every single case, the newcomer also enjoys a

THE BARRIERS TO COMPETITION HAVE MOVED FROM THE PHYSICAL TO THE INTELLECTUAL, AND FROM WITHIN THE COMPANY’S CONTROL TO OUTSIDE IT.

Clients will readily talk about the strengths and weaknesses of different practice groups within firms, but rarely can they perceive differences between whole firms (unless the entire firm is built around well-defined specialties). Accordingly, any attempt to develop a strategy from the top, and striving for actions that will differentiate the

It is not that Enterprise is the best car rental company. Nor is the market it serves inherently better. But starting with the specific need it serves, Enterprise has made a different choice about the value proposition triangle.

Wherever there is an intermediary channel between the firm and the end consumer, that intermediate customer and what it values must be understood.

Think “simple yet robust”: A company must strip down a product to the bare essentials, but without making it too primitive or rendering it dysfunctional. 2. Develop locally: The company must develop the product in emerging markets ; that is the only way to guarantee that it meets the customer requirements in the ultra-low price segment. 3. Lock in

Third, drop the irrational fear that to keep a client you have to meet all their needs