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Focus on a Specific Group of Customers For Whom You Can Create Exceptional Value
The key to growth is to focus on these two questions. Your best opportunity to excel is where your customer's wants and your skills converge.
Identify your most profitable customers not only because they bring in the most money, but also because profit is an indication that you are offering these customers something of unique value - which they are willing to pay for. These are the customers with whom you have a competitive advantage. This is the market segment you want to keep and d
Do your customers value Speed? Convenience? Selection? Reliability? Knowledgeable, attentive salespeople? Why do they select your store over your competitors? If you don't know, find out. Resources: What Customers Value? What Customers Expect? What Shoppers Love & Hate?
Competitive Advantage - the unique value that you offer your best customers. The Focusing Framework - A tool to help you match your capabilities with what your customers value. The 5 Whats - Getting down to real customer values. |
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