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Spend a Day in the Life of Your Customers Presented By: Ankit Chugh
Content• Overview• Reason for approaches• Conclusion related to approaches• Market focusing Model• Service Model• Rules that can Managers practice• Tale of Woodbridge papers• What really happened?• Understanding Customer
Overview Every successful business is built on superior senses—of timing, opportunity, responsibility, and humor. Customers is the single most important skill that company can use to direct technologies, product and service . Entrepreneurs like Bill Gates, Akio Morita, Sam Walton, and others brought this ability to the enterprises they found.
Paying attention to the customer is certainly not a new idea. And even if they do believe that market focus is a priority, most retain only limited contact with consumers as their organizations grow.
Reasons for Approaches First, customer input and market data are useful only if they’re coming from the right sources. Most industrial companies define “customer” as the next entity in the distribution channel and stop there. Most managers do not understand the distinction between information and knowledge.
Conclusion related to above approaches Top-level managers need to spend a day in the life of key customers in their distribution chains. It should be the essence of there corporate strategy. Only in that context can analytical devices like customer-satisfaction indices, market-share data, and benchmarking results become servants rather than masters.
Market focusing model• employees are considered as a competitive advantage.• They are the direct link between a company and its customers.• companies, invest massively on people by training and increasing wages.• It represents the key relationships within the organization with the customer in its center.
Rules that can Managers practice• Recognized that ‘customer’ means more than the next step in distribution chain.• Creative managers must bring insights and expertise to their customer problem.• Don’t expect brilliant insights each time you study a customer.• Involve all levels of the organization in the drive to become market focused.
Tale of Woodbridge Papers Company Facts: Woodbridge Company made colored packaging material used by the food industry. Threat of Competition: Mountain View papers
• Business Effect:Soup manufactures find Mountain View papers can save them from out of packages during promotion.Let’s Counterattack : Revival Strategy CEO immediately called a senior staff meeting. Brain storming between all the concern departments. He created a working task force of high performers.
• Results Market share increased. Awards and Accolades. Reduction in inventory control staff
What Really happened• CEO invites unhappy soup manufacturer and Chicago printer to talk about there concerns.• In the meeting Woodbridge delegation asked questions regarding what there loyal customers faced and how they could increase there profits.
Understanding Customers 6 basic needs that customers wants from there companies: Friendliness Understanding and empathy Fairness Control Options and alternatives Information