For successful Marketing – Customers Come First
Customers Come First – Even Before Profits
Good businesses (good marketers) focus first on creating customers who will continue to do business with them and second on the profit that repeat customers will bring. It is much more effective and efficient to do repeat business with an existing market that is satisfied with the value proposition than it is to spend the time and money finding and dealing with new customers all the time.
Even businesses that have “making profits for our share holders” as a prime focus need to recognise that profits are derived from customer satisfaction.
Successful businesses, seek not only to develop customers who come back, but better still, customers who will bring in other customers.
The assumption in this topic is that to be successful, a business, must first seek to create good customers. Those customers will ensure the business continues to be a success through their continued patronage and active desire to do business with it.
It is the customer who determines what a business is. It is the customer alone whose willingness to pay for a good or service converts economic resources into wealth, things into goods. What the business thinks it produces is not of first importance -– especially not to the future of the business and to its success… What the customer thinks he/she is buying, what he/she considers value, is decisive – it determines what a business is, what it produces and whether it will prosper.” (Peter Drucker 1955)