What Is More Important Product or Firm

Product

 or

 firm

  A

 firm

 is

 mostly

 known

 by

 its

 products,

 so

 the

 company’s

 well

 known

 products

  define

 how

 successful

 the

 firm

 is

 and

 make

 the

 biggest

 revenue.

 Firms

 can

  provide

 many

 different

 products,

 but

 some

 of

 them

 will

 have

 higher

 market

  demand

 so

 they

 could

 be

 called

 the

 competitive

 advantage

 for

 the

 company.

 As

  Jeremy

 Klein

 reflected

 on

 the

 opinion

 of

 Lancaster

 (1991),

 who

 stated

 that

  buyers

 are

 buying

 products,

 not

 firms,

 so

 the

 products

 are

 making

 the

 highest

  buyer

 value.

 Klein

 agreed

 and

 stated

 that

 products

 can

 compete

 with

 products

  and

 firms

 by

 firms.

 In

 my

 opinion

 it

 makes

 perfect

 sense

 because

 there

 are

  companies,

 which

 are

 selling

 a

 high

 variety

 of

 different

 products

 and

 they

 can

  not

 be

 compared

 with

 its

 competitors

 in

 the

 meaning

 of

 all

 the

 products,

 but

 only

  the

 ones

 who

 are

 the

 same.

 The

 company

 can

 be

 assumed

 to

 be

 in

 a

 competitive

  advantage

 judged

 by

 its

 products

 compared

 to

 its

 competitors,

 if

 the

 company

 is

  producing

 many

 different

 products.

 If

 the

 company

 has

 specialized

 in

 one

 field

  producing

 only

 one

 kind

 of

 product

 than

 the

 competitive

 advantage

 can

 be

 seen

  for

 the

 company

 as

 a

 whole.

 Also

 if

 a

 customer

 chooses

 a

 specific

 brand,...