It was a pleasure to receive the attention of John Todor on my recent article Marketing & the “R'” World. Additionally, it was great to have his recommendation to go through his recent work, accentuating the importance of customer experience, and specially in the current economic situation.
John and William, in their recent work advocates about the focus on the customer experience, and argues that it is the major source of competitive differentiation. Executed effectively it can take the focus off of price and enhances the value customers perceive in the relationship. In short, it is a business strategy that is essential to sustainable profits and growth.
They further adds that as financial markets are in turmoil, consumer prices rise, and there is fear of a declining market place, business executives are scrambling to devise a timely strategy. Some will gravitate towards a cost-cutting and retrenchment process to ride out the storm. Others will look to protect their core customer base. For many executives, leading in a down economy will be a new experience and they will be seeking perspective, insights and guidance—thought leadership.
This exceptional work reveals five seminal themes that will help business leaders succeed in these difficult times:
- What customers are experiencing, why it matters and what to do about it
- Leadership and strategy in troubled times
- Economics that justify a customer-focused strategy
- Delivering more with less
- Employees: stressed but so essential
I am sure you would find the work as interesting and essential as I did. This First Edition (December 2008), International Thought Leader Report is freely downloadable here.
Needless to say it is a recommended read and truly justifies it applicability in any economy, sector and industry, worldwide.
Have A Good Weekend.
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