Oct 18
2018
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Create CustomersPosted by Steve Marr in Untagged |
Management expert Peter Drucker frequently said that the purpose of any business is to create customers. As simple and accurate as this statement is, we often miss the mark.
The challenge arises when we make decisions based on what we prefer to offer versus what our customers demand. An example is “Ken” who owns a pet store that targets healthy ingredients for animals. Ken decided to carry only expensive products. I pointed out that he could easily carry less costly products that would appeal to a wider cross-section of customers and increase sales. By my perspective Ken was too narrowly focused on the product line. He could easily maintain healthy products for pets while adding some lower-cost products. He simply would not do it. In going over a number of issues about how Ken ran his business, I believed Ken was more interested in providing what he wanted to sell rather than focusing on what customers demanded. I tried to repeat that I was not suggesting that he forgo his passion for healthy pet food. I simply wanted to show Ken how to create more customers.