Ideas About Conventional Strategy Are Based on a Linear Value

question 4

True/False

Ideas about conventional strategy are based on a linear value chain approach, considering successive supplier/distributor participants to add value as a product moves along a chain to be consumed by end users. Van Alstyne, Parker, and Choudary (2016) refer to this as a platform strategy.

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Definitions:

Low-value

Pertains to items or assets that carry a lesser worth or significance, either monetarily or in terms of utility.

Set Price

The predetermined fixed amount at which a product or service is sold to consumers.

Oral Auction

A public auction where bids are made verbally, allowing participants to increase their bids until the highest bid is reached and the item is sold.

Optimal Bidding

The strategy of placing the most advantageous bid in an auction or competitive environment, balancing the potential benefit against the cost.