Welcome back to module three of competitive strategy. In this module let me introduce you to the power of complements, let me explain to you what complements are. Imagine you want to go skiing, and of course since we're so close to the Alps, skiing is a really big thing here in Munich. So in order to do proper skiing you need skis and poles, these skiing sticks. Okay you could do skiing without poles, but it's definitely the most fun if you combine both and you have poles and skis, right? So we say that this two are complementary products, because their value depends on the availability of the other product. But no worries, we'll talk about this in much more detail throughout this module, and we'll also look at a formal definition of what complements are. We'll also think about what complements mean to us economically. So later on, we will have a look at strategies that are particularly interesting in markets with complementary products. We'll discuss why printers are fairly cheap and ink cartridges are quite expensive. We will analyze why firms like to sell their products in a bundle, and we will learn how complementarity creates switching cost. So do you still remember what we've learned in the last module? Cooperation among firms is not always easy to achieve, and one way of getting there is if the firms produce complementary products. Because coordination among firms is extremely important in the light of complementary products. We will talk about this in quite some detail. A good mechanism for achieving coordination among different firms is forming strategic partnerships. So we'll talk about different forms of strategic partnerships, how they can be achieved, and how possible pitfalls and opportunities can be either achieved or avoided. So if this sounds interesting to you, I do hope that you directly start with the first video lecture for this module, see you there