What the customer buys and considers value is never a product. It is always utility, that is, what a product or a service does for the customer.
Peter DruckerSuppliers 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.
Peter DruckerWhat is the major problem? It is fundamentally the confusion between effectiveness and efficiency that stands between doing the right things and doing things right. There is surely nothing quite so useless as doing with great efficiency what should not be done at all.
Peter Drucker