Value creation and competition
Value creation: the foundation of profitability
Contributed value and unrestricted competition
Appendix: the mathematics of unrestricted competition
Willingness-to-pay and economic cost
Appendi: using decision trees in wtp and economic-cost calculations
Being better : winning the customer
Competing for the customer : the value gap advantage
Customer tastes and profitability
Appendix: contributed value and value-gap advantages
Guaranteed profitability: the power of exclusion
Appendix: monopoly power and supply/demand reasoning
Envy is a form of exclusion
Non-constant marginal costs
Being in demand : guaranteed and potential profitability
Appendix: supply and demand revisited
Profitability under unrestricted competition
Economic value : relative and subjective
Strategic moves : changing the game
Appendix: game matrices for game trees
Strategic moves : restrictions
Conclusion: a coherent story
