A Quote by Stanley Marcus
Consumers are statistics. Customers are people.
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If you ask who are the customers of education, the customers of education are the society at large, the employers who hire people, things like that. But ultimately I think the customers are the parents. Not even the students but the parents. The problem that we have in this country is that the customers went away. The customers stopped paying attention to their schools, for the most part.
I think there will be an increasing convergence between content and commerce, that it will be about following consumers instead of making consumers come to you, and I am especially excited about the various platforms that will allow more and more access to customers.
Often people say they can't base their strategies on customers because customers make unreasonable requests and because customers vary too much. Such opinions reveal serious misconceptions. The truly outside-in company definitely does not try to serve all the needs of its customers. Instead, its managers are clear about what their organization can and should do for customers, and whatever they do they do well. They focus.
If you wait for customers to tell you that you need to do something, you're too late. Good business leaders should be half a step ahead of what customers want, i.e. they don't actually quite know they want it. That's what innovation's about. With Plan A, we didn't wait for the consumers to tell us.
If old consumers were assumed to be passive, then new consumers are active. If old consumers were predictable and stayed where you told them, then new consumers are migratory, showing a declining loyalty to networks or media. If old consumers were isolated individuals, then new consumers are more socially connected. If the work of media consumers was once silent and invisible, then new consumers are now noisy and public.
Sometimes there are customers who get in difficulty because of situations that are out of their control. These are customers with genuine needs, and the role of the bank is to accommodate these customers, and there is a real need to reschedule the loans of these customers.
I think of a traditional CEO as being divorced from customers. A lot of consumer company CEOs - they're not really interacting with consumers.
If consumers are strong, if consumers are protected, if they can trust the marketplace and feel confident that they're not being cheated here and there, then consumers can drive this economy forward.
The capitalistic social order, therefore, is an economic democracy in the strictest sense of the word. In the last analysis, all decisions are dependent on the will of the people as consumers. Thus, whenever there is a conflict between the consumers' views and those of the business managers, market pressures assure that the views of the consumers win out eventually.
The easiest way to figure out who the customer is in an online space is to figure out who is paying for the thing. Usually, the people paying are the customers. So on Facebook, the people paying are marketers. That makes them the customers. And it means we are the product being delivered to those customers.
Statistics suggest that when customers complain, business owners and managers ought to get excited about it. The complaining customer represents a huge opportunity for more business.
My view is make Indian manufacturing competitive, and if it is competitive, it can serve customers or consumers anywhere.
Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more quickly and at less cost; for the businesses that are our customers; and for the economy as a whole.
Consumers will purchase high quality products even if they are expensive, or in other words, even if there are slightly reasonable discount offers, consumers will not purchase products unless they truly understand and are satisfied with the quality. Also, product appeal must be properly communicated to consumers, but advertisements that are pushed on consumers are gradually losing their effect, and we have to take the approach that encourages consumers to retrieve information at their own will.
Please, please, stop referring to yourselves as 'consumers.' OK? Consumers are different than citizens. Consumers do not have obligations, responsibilities and duties to their fellow human beings.
Thermostats are made by very large companies with no incentive to innovate. Their customers are contractors or HVAC wholesalers, not consumers. So why spend to make them better? It's a good business.
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