If one asserts that buying customers below what they charge them is a corporate strategy, this is in essence an arbitrage game, and arbitrage games rarely last.
Demonstrate to your customer the difference between price and cost. The price is what it takes to purchase the item. The cost is the amount the customer eventually pays. They are not the same.
The most important adage and the only adage is, the customer comes first, whatever the business, the customer comes first.
No one knows the cost of a defective product - don't tell me you do. You know the cost of replacing it, but not the cost of a dissatisfied customer.
People are first and foremost Republicans, first and foremost Anarchists, first and foremost a man or woman, and that is a mistake. It hurts the individual and it hurts the whole.
Proprietary stock-index arbitrage is but one aspect of program trading. Arbitrage will take place whenever there is an imbalance created in one or more markets that are similar.
The thought process of India was more around its potential as a cost arbitrage. We always recognised the potential of India, but we were more coming from how can we fit into cost structure rather than selling things here.
The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.
We built TransferWise focused on customer innovation. That means we build our product based first and foremost on our customers.
I'm a business first and foremost so whatever my business is, it's separate from my personal. It's like whatever I do business wise, it's done in the business fashion whether it's promoting , marketing, whatever I'm doing.
Sixty-five countries doing nothing is not a coalition. We need a strategy. That's the first and foremost thing that we need.
Before I even pick up a guitar, usually the words are done. So I'm not first and foremost a musician. I'm first and foremost a writer.
Take information technology. We have winners implementing CRM (customer relationship management systems) and losers implementing CRM. What mattered in technology is that the technology actually drives either cost reduction or superior strategy execution.
But most automotive dealerships are set up for customer acquisition - which is crazy when you consider the average cost of customer acquisition is $1,000 or more.
But the central point is that any campaign against Iraq, whatever the strategy, cost and risks, is certain to divert us for some indefinite period from our war on terrorism.
Foremost is the principle that the purpose of consumer research is to understand the customer's needs and wishes, and thus design product and service that will provide better living for him in the future. A second principle is that no one can guess the future loss of business from a dissatisfied customer.