The book Blue Ocean Strategy basically brings up a similar concept. When running a business, you need to think of the bigger purpose your potential customers tr

The book Blue Ocean Strategy basically brings up a similar concept. When running a business, you need to think of the bigger purpose your potential customers try to fulfill by spending money. Say you're a high-class italian restaurant, you'll find that you compete - not only with high-class italian restaurants - not only with all high-class restaurants in general But in fact with all businesses that allow the customer to spend the same order of magnitude of money in return for the same high-class treatment, leisure, and relaxation. It may sound daunting, but it in fact also means that your potential market is much bigger than you might initially believe.