It is the customer who determines what a business is. It is the customer alone whose willingness to pay for a good or for a service converts economic resources into wealth, things into goods. What the business thinks it produces is not of first importance--especially not to the future of the business and to its success...What the customer thinks he is buying, what he considers value, is decisive--it determines what a business is, what it produces, and whether it will prosper. And what the customer buys and considers value is never a product. It is always utility, that is, what a product or service does for him. And what is value for the customer is, as we shall see, anything but obvious.
Subject(s): Business Rules, Customer Related
Source(s): 800-CEO-READ (8CR)
Posted: 2006-11-29
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