Quote by Peter Drucker
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.
Summary
This quote highlights the concept of market power held by suppliers and manufacturers. It suggests that they possess an advantage in the market due to their access to information about a product or service that customers don't have. However, this advantage becomes irrelevant if customers can trust the brand. In such cases, customers do not necessarily need to have the same level of information, which is the foundation behind the profitability of established brands.
Topics
Power
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