Success is the name of the game. In today’s evolving, demand driven market, customers are no longer vying for the attention of businesses. It’s the other way around. As a result, in the quest to achieve brand awareness with the ideal customer-base, businesses must go to great lengths to attain a competitive advantage. With this transformation, there are certain measures to be aware of to help your firm survive the impeding economic and social changes.
Forbes
How to Succeed in Business by Really Trying
According to Milton Friedman’s book, Capitalism and Freedom, the great argument for the
market “is its tolerance of diversity; its ability to utilize a range of special knowledge and capacity.” In the 21st century, there has been a tremendous shift in the power between the
buyer and seller. There is a distinct difference; the once former consumer has now become the customer. In prior years, businesses could survive without even trying. Today, the power of choice has enabled customers to exploit, reduce and discriminate against prospective companies. Read what Forbes has to say about how the world has entered the age of customer capitalism.
WordWrite Communications
Read the Audience Wrong and Proceed at Your Own Peril
Food, service and ambiance: welcome to the restaurant industry. The “family-dining” concept has evolved over the past several decades. Once embraced for its long, sit down meals, the food and beverage sector has transitioned into one of speed and convenience. John Durante, WordWrite’s marketing services director, shares his take on why the conventional family dining story is plunging into the darkness.
PR Daily
JetBlue and Comcast Show the Downside of Quashing Customer Complaints
Last week, a JetBlue flight prohibited a passenger from boarding a plane after she tweeted about an incident that occurred between the pilot and other passengers. While the woman claims she was only a bystander, the JetBlue staff remained firm in their refusal to allow her on
the flight. In this instance, fighting fire with fire worked against the company. A prime example of a brand vs. customer conundrum, it is important to respond to customer complaints to show you care but be careful in your approach. With customers in control, a company’s reputation is at the hand of its clientele.
From the customer-centric approach, the world has become focused on the wants and needs of individuals in the marketplace. It is no longer a matter of what the business wants; it is what the customer wants. The sooner your business recognizes this fact, the quicker it will rise to success. How has this increase in customer buying power impacted your business operations?
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Julia Pizzutti is an intern for WordWrite Communications. You can find her on Twitter@julzutti93.
