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Treasuring Customers: The Secret for Endurance

In: The Timeless Principles of Successful Business Strategy

Author

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  • Eric Viardot

    (Skema Business School, Skema Executive Education)

Abstract

Enduring companies do all they can to maintain strong relationships with their customers over time. They study the characteristics and expectations of existing and potential customers whether individual consumers or industrial clients, to understand their needs and desires, ensuring that the benefits of their products and services are always considered from the customer’s perspective. Enduring firms focus on a limited number of market segments, selecting profitable customers while avoiding others, and deliver value beyond functional benefits through a total value equation. Enduring companies also cultivate customer loyalty and effective communication notably around the corporate brand; they also institutionalize feedback to continuously improve products and processes. Finally, they evolve alongside their customers to sustain long-term relevance and competitiveness.

Suggested Citation

  • Eric Viardot, 2026. "Treasuring Customers: The Secret for Endurance," Management for Professionals, in: The Timeless Principles of Successful Business Strategy, edition 0, chapter 0, pages 15-29, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-032-14617-5_3
    DOI: 10.1007/978-3-032-14617-5_3
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