Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.
Peter Drucker
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More quotes by Peter Drucker
- The best way to predict the future is to create it.
- Business, that's easily defined - it's other people's money.
- Most of what we call management consists of making it difficult for people to get their work done.
- The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.
- Time is the scarcest resource and unless it is managed nothing else can be managed.