Competition and value creation: what is changing?
- Authors: Smirnov V.D.1
-
Affiliations:
- The Financial University under the Government of the Russian Federation
- Issue: Vol 13, No 3 (2023)
- Pages: 1461-1476
- Section: Articles
- URL: https://journals.eco-vector.com/2222-0372/article/view/608096
- DOI: https://doi.org/10.18334/vinec.13.3.118985
- ID: 608096
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Abstract
The article is devoted to the current changes in the fundamentals of market competition and its relationship with the creation of value by sellers and buyers. The uncertainty of the future characteristic of our time and the instability of current conditions forces companies to significantly change their strategic priorities and investment directions from combating the shortcomings of existing products (although it is still advisable) due to their shortening life cycle to mainly developing new products and working within new business models. The creation of value by the manufacturer of the goods largely depends in modern conditions on how much he can take into account the possibilities of creating value by his buyer in the process of using it. Accordingly, price competition recedes into the background, and the central place is occupied by product competition and competition of the operating conditions of the product.
Keywords
About the authors
Vladimir Dmitrievich Smirnov
The Financial University under the Government of the Russian Federation
Email: vdsmirnov@fa.ru
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