Business success is dependant upon providing a product or service that is valued by the marketplace thereby creating a recurring demand that perpetuates the business. Unfortunately many businesses loose sight of what the product or service is that the market values. As a result their market potential falls short of what it could be and may, in the end, result in a withdrawal from the market or worse – going out of business!
We all know those businesses that we like to buy from. It is interesting that similar or like products are available in the marketplace but we exercise our preference and are drawn to one vendor over another. Is that magic or random selection? Most likely it is by “intelligent” design.
Successful business know and perform the following very well:
- How to position the product in a way that attracts your attention.
- How to make the selection and purchase decision easy and satisfying.
- How to package like products that will make it easier to “bundle” products creating more value.
- Provide a comfortable “purchase” environment (in store, catalog, online) where you can see yourself with or using the proposed product.
- An easy method to resolve questions and or, if necessary, exchange the product without question with a full money back guarantee.
Product design then includes far more . . .
In a story that appeared in the April 23rd issue of Forbes, "Inside Amazon's Idea Machine: How Bezos Decodes the Customer", George Anders interviewed Jeff Bezos about the success of Amazon and how it has become synonymous with store. Included in this story Jeff Bozos details the 10 Leadership Lessons that are fundamental to the growth and success of Amazon..
Jeff Bezos' Top 10 Leadership Lessons
- Base your strategy on things that won’t change.
- Obsess over customers.
- We are willing to be misunderstood for long periods of time.
- There are two kinds of companies: those that try to charge more and those that work to charge less. We will be the second.
- Determine what your customers need, and work backwards.
- Our culture is friendly and intense, but if push comes to shove we'll settle for intense.
- If you want to be inventive, you have to be willing to fail.
- In the old world, you devoted 30% of your time to building a great service and 70% of your time to shouting about it. In the new world, that inverts.
- Everyone has to be able to work in a call center.
- This is Day 1 for the Internet. We still have so much to learn.
What is startling is the priority that Jeff Bezos puts on customer centric activity.
Click here to read the complete article.
Note: Ask yourself the following questions.
- Where does the customer sit your list of leadership priorities?
- How committed are you to the customer?
- How often are you connecting with your customer to see how they value your product or service?
If you are unsure about how your customer views your business contact Mike to learn about the Sales Baseline Assessment services available from Brice Consulting for you and your organization. Don't let your ego stand in the way of making a decision to get feedback on your sales and customer relationship effectiveness. What matters is knowing that you need to make a change and to engage competent resources to improve your sales performance.
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