ABSTRACT
You may remember that in Section 3 we considered the example of Tom Robertson’s second-hand bookshop. The business came under threat when another bookshop opened up down the road selling many titles at lower prices than those charged by Tom. Tom’s rival, Meera, then increased her profits and made her position more secure by starting to sell her more valuable books on the Internet. Tom’s response was eventually to give up and go out of business. But Tom could have decided to seize his opportunities and actually compete. He, too, could have used the Web to sell his more valuable books. He had an excellent stock so there was a good chance that taking this route could have saved his business.
