A Quote by Melissa Bean
By overhauling current rules and speeding the entry of competitors in the market, we encourage competition and provide our constituents with new choices and cheaper bills.
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All competitors are fierce competitors; Vodafone is the world's second largest company. We fight it each day. Idea Cellular is big and successful, too. Competition is competition; we are used to it.
As someone with a deep faith in competition and the market, I also know that markets only work with tough enforcement of the rules that guarantee competition and fair play - and that the pressure to break those rules only gets stronger as the amount of money involved gets larger.
What corporations fear is the phenomenon now known, rather inelegantly, as 'commoditization.' What the term means is simply the conversion of the market for a given product into a commodity market, which is characterized by declining prices and profit margins, increasing competition, and lowered barriers to entry.
Our competitors outside Europe are manufacturing goods cheaper and better. Through innovation, other countries are producing new products which we do not make yet, but which we could.
If you change the rules of the market, you can be more successful than your competitors.
We were in the market ahead of competition. We brought new products on the market ahead of competition. We rolled out our networks. We begged, borrowed, stole, put things out. And while they were never near perfect, they were first. And that gave us, to my mind, a lot of advantage.
We really don't look at our competitors. The market is big. If you focus too much on competitors, you can lose focus on the customer. If we make our customers happier, we are going to win.
Nuclear power has died of an incurable attack of market forces and is way beyond any hope of revival, because the competitors are several-fold cheaper and are getting rapidly more so.
You can't have a market without government, because governments create the rules of competition and enforce fairness in the markets, and they build the institutions within which competition takes place.
In America, when you bring an idea to market, you usually have several months before competition pops up, allowing you to capture significant market share. In China, you can have hundreds of competitors within the first hours of going live. Ideas are not important in China - execution is.
Shifting Philip Morris to the new a non-risk products doesn't mean that I will give market share to my competitors free of charge. In the markets where we are not present with IQOS yet or the other reduced-risk products, you still need to defend your share of the market. They still represent the bulk of our income, and so far they have financed the billions of dollars we have put behind these new products. But once we go national in a market, and absent capacity constraints, then you shift your resources and your focus to these new products.
Tomorrow I will have new competitors such as Google, Microsoft, and Facebook coming into my garden. I'd rather focus on the competition of tomorrow than combine with the competition of today.
Americans have always pursued our dreams within a free market that has been the engine of our progress. It's a market that has created a prosperity that is the envy of the world, and rewarded the innovators and risk-takers who have made America a beacon of science, and technology, and discovery. But the American economy has worked in large part because we have guided the market's invisible hand with a higher principle - that America prospers when all Americans can prosper. That is why we have put in place rules of the road to make competition fair, and open, and honest.
If a company is not a monopoly, then the law assumes market competition can restrain the company's actions. No problem. If a monopoly exists, but the monopoly does not engage in acts designed to destroy competition, then we can assume that it earned and is keeping its monopoly the pro-consumer way: by out-innovating its competitors.
The higher cost of getting a generic drug approved by regulators means that many old medicines don't face competitors. It's only after substantial price hikes that these drugs offer enough revenue to offset the rising generic entry costs, and start to entice competition.
A tobacco industry has been a fairly linear and predictable industry. You know what's going to happen every year. You know from time to time you are going to have a tax increase, you are going to have regulatory restriction, but, as it applies to everybody, I think we are doing very well. But now it's much more technology-driven. Competitors other than our traditional competitors can come in, whether legitimate or fly-by-night ones, and you have to anticipate all those things. The whole organization has to gear up to this new reality and these new competitive rules around it.
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