Which MBA Concept Best Explains a Business?

Small break from calculating when two trains will meet. Let's figure out why you'd pay more for the same coffee in a different cup.

Drop a company in the comments. I'll pick one concept and explain how I'd use it to understand the business.

Studying these concepts during my PGDM at IMI Kolkata has made me curious about the businesses behind everyday purchases. Thought this could be a fun way to discuss them here.

No textbook paragraphs. You can challenge my answer too; I could use the practice.