For the past three decades, the business mantra has been “customer first.” Yet focusing on retaining and expanding an existing customer base often results in finer segmentation and the greater tailoring of offerings to better meet customer preferences, which will likely lead companies into too-small target markets of an existing industry.
The blue ocean strategist’s mantra is “noncustomers first.” By looking to noncustomers and building on powerful commonalities in what they value, companies can reach beyond existing demand to unlock a new mass of buyers.
However, few organizations have a sound grasp of who their noncustomers are or why they remain just that – noncustomers.
Content: Quotation
Authors: Mi Ji, Renée Mauborgne, W. Chan Kim
Source: INSEAD Knowledge
Subjects: Customer Related, Marketing / Sales, Strategy
Authors: Mi Ji, Renée Mauborgne, W. Chan Kim
Source: INSEAD Knowledge
Subjects: Customer Related, Marketing / Sales, Strategy
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