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Treasuring Selected Customers: The Secret for Sustainability?

In: The Timeless Principles of Successful Business Strategy

Author

Listed:
  • Eric Viardot

    (EADA Business School Barcelona)

Abstract

Sustainable companies do all they can to always have customers. They constantly study the characteristics and expectations of existing and potential customers because they want to understand their needs and desires better in order to propose them the best offer always. They know that the proposed benefit of a product must always be considered from the customer’s perspective, never that of the firm. Enduring firms focus on a limited number of market segments rather than indiscriminately taking a global pool of customers. One of their secrets is to select profitable customers and avoid others, based on their long-term value. Sustainable companies master also the ways to keep their customers loyal for a long time. One central element is their unique ability to communicate with customers around the corporate brand.

Suggested Citation

  • Eric Viardot, 2017. "Treasuring Selected Customers: The Secret for Sustainability?," Management for Professionals, in: The Timeless Principles of Successful Business Strategy, edition 2, chapter 3, pages 11-23, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-662-54489-1_3
    DOI: 10.1007/978-3-662-54489-1_3
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