3.1.2 Managing & Understanding Customers

There are different ways to understand customers better.

  • Firstly, one has to consider a customer’s point of view.
  • Secondly, one has to collect and scrutinize data to understand customers buying behavior.
  • Thirdly, the customer can be directly asked about their
    wants and demands.
  • Fourthly, one has to conduct customer satisfactory
    surveys. Surveys like this gives one helpful information
    about what customers think.

  • Continual improvement in products or services is an
    effective approach to maintain existing customers and
    winning new ones.

However good the products or services may be, the customers will not buy it if they don’t want it. And the supplier cannot
persuade anyone to buy what they are offering unless the customer really wants it.
Every business needs to provide something unique to their customers so that they buy from them and not from their
competitors. This is called Unique Sales Proposition (USP). This USP can change with the market changes. USP can be more
effective if it is derived from customer’s buying decision. It is very important to review USP regularly.