An important aspect of understanding your business ecosystem is knowing your position within it (positioning), whether you hold a higher or lower (subordinate) role, and whether your offerings are substitutes or complements. Netflix started as a DVD rental service. With the rise of online streaming, Netflix saw it as a replacement for DVD rentals. Kimbap and Ramen are complementary goods, but Ramen and Udon are substitutes. This is why, even when setting up a snack bar, paying attention to the menu is crucial. Complementary goods increase sales, while substitutes are more likely to lead to no change or even a decline in sales. - Joseph’s “just my thoughts”
White hair is referred to as “gray streaks of hair” when it is sparse on black hair. However, when there is more white hair, it is called “white hair.” Quantity is an essential criterion for distinguishing meaning. When analyzing certain phenomena, quantity significantly influences definitions and meaning; however, it can also overlook other important aspects. Therefore, the meaning of “quantity” should always be considered carefully. - Joseph’s “just my thoughts”