Several forces are working together to create pure market economies where they did not exist before, say Meyer and Davis. People, products and companies are becoming so electronically connected that such information can have broad and immediate consequences. The authors also argue that the commercial importance of intangibles like service, brand loyalty, prestige and celebrity is increasing. The old paradigm of sellers bringing products or services to market and setting the price is passe, say the authors. For one thing, the distinction between products and services is becoming fuzzier.
Producers now bring a blend of the two to market.
For example, a Mercedes test model connects its onboard computer to a service center via the Internet. The roles of buyers and sellers are likewise blurring, and information is frequently exchanged along with products and services. The Irish supermarket chain Superquinn pays customers who spot problems, like malfunctioning freezers or products past their sell-by dates. Davis and Meyer say these changes will benefit consumers. They predict the power of the Fortune 500 corporations will eventually be surpassed by that of what they call the Value 500, made up of enormously powerful consumer organizations.