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Attracting and Keeping Customers in Crucial market conditions

There are several Keys to Attracting and Keeping Customers in Crucial market conditions. However, based on the knowledge I have acquired from industries, I have the following suggestions for entrepreneurs:

  • Culture: Create a culture of having customers and prospects at the top of your organizational chart so that your beliefs, values, and behaviours emphasize on superior customer value and continual quest for new source of value; and then refine cross-functional teams to be more customer focused.

  •  Market Sensing: Continuous Sensing or studying emerging market trends and opportunities; reading and understanding customers and prospects so well that their choices, aspirations, needs , priorities and frame of reference are better understood.

  • Market Relating: Cordial Market Relating is necessary for creating and maintaining better relationship with customers such that a bond is formed between your firm and them, and competition is not considered during purchase decision.
  • Competitive Sensing: While sensing happenings in the  market landscapes, you will also anticipate competitive moves that aim to attack your weak points. . With aggressive competitive posture, Jack Welsh of GE advised his managers to “Hit their competitors before they are big enough for it to be a fair fight”.
  • Anticipatory Strategic Thinking: The clarity of what you will continuously learn about the markets and competitive moves will help us devise winning strategies that anticipates rather than react to market threats, changing conditions and opportunities. This will helpyou make accurate fact-based decisions for market success.

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