Identifies four factors as constituting the primary basis for global competition in providing customers with value: customization, quality, response time, and price. However, finds that these factors interact in a multiplicative rather than the commonly‐assumed additive manner, giving competitors with multiple strengths additional competitiveness and disqualifying firms which lack performance on even one dimension. Presents a simple model to aid managers in analysing the competition in their industry as well as in making decisions about the best actions to take for strengthening their firm′s competitiveness.
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