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ABOUT CUSTOMERS AND MARKETING
 
The path to capturing and integrating important data
 

ANTICIPATING THE FUTURE …

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The desire to create unique value for customers is almost always the goal of creating and running a company. Despite extensive efforts, however, increasing numbers of companies run the risk of becoming replaceable. Entering ruinous price wars is often the bitter consequence. ________________________________________________________________

In recent years, only 14% of companies have been able to increase prices despite being forced to improve quality.

 

A study we began in 2006 of more than 2,000 companies in 12 countries has clearly illustrated this complex situation. Many companies are being forced to improve quality while not being able to increase prices.

 

  • For 70% of companies the market is demanding drastically improved quality. That trend is expected to continue.
     
  • For nearly 60% of companies, however, the price/quality ratio has gotten significantly worse. They have been forced to improve quality while keeping prices down.
     
  • 32% of companies even had to reduce prices despite increases in quality.
     
  • Furthermore, the majority of companies have already maximized their cost-reduction potential.
     
  • Just 14% of companies have managed to increase prices in their markets. 

Those 14% are the top performers who have been able to generate market knowledge that is relevant for the future and in turn generate valuable customer strategies.


Why customer focus requires anticipation of the future

The results of our study clearly show that companies can only escape disastrous price wars if they take on the challenge of identifying new market opportunities before they are already obvious Only then is it possible to actively shape the market instead of always having to chase it. The following core questions will determine the conceptualization model for anticipatory customer focus:

  • Where is the market logic of the industry in question heading?
  • Which target groups will play a role in developing this logic?
  • What potential will these target groups have and which concrete solutions will be relevant for these target groups?
  • Which information and purchasing decision processes will be employed by these target groups in the future?


It is obvious that these questions require different approaches for establishing customer excellence depending on whether we are talking about B2B or B2C environments.

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The results of our study clearly show that companies can only escape disastrous price wars if they take on the challenge of identifying new market opportunities before they are already obvious.

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