This is a Chinese version of Competitive Strategy. You can find the original course in English from our course catalog. 此版本是Coursera首次尝试推出的中文翻译版。课程视频为英文原版附中文字幕，课程页面和测验已译成中文，帮助中心提供中文支持。 在本课程（共六个模块）中，你将了解企业在战略决策相互依存的情况下如何行事。例如，你的行动会如何影响竞争对手的利润，反之亦然。我们将会借助博弈论的基本工具分析企业如何选择策略以获得竞争优势。
互补产品：示例和定义 Complements: Examples and Definitions
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Do curso por Ludwig-Maximilians-Universität München (LMU)
竞争策略（中文版）
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互补产品和战略合作伙伴关系 Complementary Products and Strategic Partnerships
在本模块中，我们将介绍互补产品的概念，并运用经济学术语来探讨它们的意义。我们将研究企业为何想要将产品捆绑出售，以及互补性如何产生转换成本。我们还将讨论企业间的协调对互补产品的重要性。最后，我们将学习战略合作伙伴关系作为一强大工具如何在特定环境下为企业带来利益。
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Tobias KretschmerProfessor
Institute for Strategy, Technology and Organization
Today's lecture is all about the power of complements.
But at the very start, before we even start thinking about what strategies to
use, once we go into complements or once we're looking at complements,
let me give you some examples and the formal definition of what complements
actually are and what they do economically.
So, let's take some examples. An obvious one would be computers and
software. You can take this computer, and you can
do all sorts of things with it. You can go on the internet,
you can write documents and so on. But if you use particular software, in
this case game software, if you use that game software to play with that computer,
it's going to increase in value. If you're thinking about skis and skiing
sticks, skis on their own are good for getting down the hill.
But it's definitely safer and is more fun if you have skiing sticks as well.
Skiing sticks on their own are pretty useless if you don't have skis.
Now think of Smartphones and apps, if you don't have any apps, then using a
Smartphone as a phone is still fine, so you get some utility from using the phone
as such. But the power of smartphones really comes
from the fact that you can install little programs, applications, that you can then
use basically as a computer on your phone, and that's where the main utility,
the extra utility comes from. So these are all examples of complements,
of complementary products that increase each others utility.
So, formally speaking, two products, A and B, are complements if the usage of B
increases the user's utility from A and vice versa.
Formally, if we wanted to express that, that would mean that the utility from
using A and B together is higher than the utility of using A on its own plus the
utility of using B on its own. And let me give you a numerical example,
just plucked out of thin air of course. The utility from using a laptop, and again
that's probably the utility you get from using word processing software and so on,
let's say that the utility you get is 50. The utility from software as such without
a computer is 0. By the way what do we mean by utility.
Utility is basically how much you're better off using the particular good in
question. So if you use a laptop we're assuming
that you're 50 units better off, than if you didn't.
So what would happen if you combined laptop and software and you were able to
use those together? It would be worth more than just a
laptop and it would definitely be worth more
than just the software. And it would even be worth more than the
sum of the two. So we can imagine a situation where using
the laptop and the software is worth 100. So that's the definition of a complement
in terms of the user utility. An implication from this is when we think
about cross price elasticity. So that sounds complicated, but it's fairly
straight forward I think. So two products A and B are complements
if the demand for B increases when the price of A drops, and vice versa.
So, in other words, if the price for product A goes down then people
are going to buy more of good B.
Okay, and how is that going to happen? Well, first of all, this is what we call,
negative cross price elasticity. Meaning that, the price of one product
and the demand for the other product go in opposite directions.
Now, cross price elasticity, as I said, sounds complicated, it's fairly easy.
Basically, how does the demand for 1 product
depend on the price of another product. So let's think of the
example of our laptop and the software again.
What happens if the price for the laptop goes down?
The price for the laptop goes down, then demand for software is going to increase.
And why did that happen? How can that happen?
Well, price for laptops going down does two things.
First of all, we might have more demand for laptops to begin with.
So there's more people buying laptops in the first place.
And secondly, people that do buy a laptop anyway, will have a larger budget
for additional software. So that means that in both cases, so both
from new consumers and from consumers that now have more disposable budget for buying
software, the demand for software goes up.
So so far, the complements we've looked at where fairly obvious.
I mean, you know software and computers, skis, and skiing sticks, and so on.
That's fairly, fairly obvious, but sometimes complements can show up in the
most surprising places if we think about it, and if we look around.
So even substitute goods, so goods that would typically be bought, either one or
the other, can have complementary effects. So for example, if a price cut of the
substitute good may decrease market share, but at the same time, it can
increase the size of the market, the net result, the net effect, can be
positive. So, again, let me give you an example of
this. If we have two cloth shops in the same
mall, okay, so you can buy all sorts of cloth.
If shop A now initiates a price cut, that price cut is going to do 2 things.
First of all, the people that went to the mall already
might go to shop A rather than shop B because it relatively speaking has become
cheaper. On the other hand, it also makes the
whole mall more attractive. So words going to get around, hey there is
shop A and it's just cut its price. So lets go to that mall and lets have a
look around. So this is going to mean that for shop B,
even though their prices have not changed and even though the prices of a
competitor have decreased, I might still see a sales increase, because I have
additional consumers that went to the mall and end up buying from me.
So these are surprising complements in some sense, because we wouldn't think of
substitute products as complements as well.
But there maybe particular complementary effects.
So hopefully, by now you've got some intuition of what we mean when we talk
about complements. So for now let's move on and talk in the
next couple of lectures about the kind of strategies that firms can implement in
the light of complements. So stayed tuned and see you in a few minutes.
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