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The Law of the Customer

The Law of the Customer


The customer always acts to satisfy his or her interests by seeking the very most and best at the lowest price possible. Customers practice economic calculation in their choices. They seek to minimize their purchases and to minimize their costs, or outlays. Customers always attempt to get the things they want the fastest and easiest way possible, right now, at the lower possible price. This is not a problem. This is merely a fact of business life. Customers want the very most for the very least, and they will buy from whomever they feel can best give it to them.

Customers are Both Demanding and Ruthless

Customers are both demanding and ruthless; they reward highly those companies that serve them best and allow those companies that serve them poorly to fail. Sam Walton once said, “We all have the same boss, the customer, and he can fire us any time he wants by deciding to buy somewhere else.” It isn't that customers don't care about your business, it's just that customers care more about themselves and their own satisfaction than they do about the success or failure of your enterprise. Wherever you see a business fail, you see a business where the owners were either unable or unwilling to adjust their offerings to satisfy the customers at prices that allowed them to carry on.

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Customer Always Behave Rationally

Customers always behave rationally in pursuing the path of least resistance to get want they want. From the point of view of the customer, every action makes perfect sense. All buying behaviour is aimed at achieving greater personal satisfaction, toward improving one's position, toward being better off. If a salesperson or a businessperson suggests that the customers are stupid for not patronizing a particular store or buying its products, it is actually the salesperson or the businessperson who is stupid. The customer is very smart and usually knows what is in his or her best interest. The customer's decision is always rational, from the customer's point of view.

Proper Business Planning

Proper business planning always begins with the customer as the central focus of attention and discussion. People within companies have a dangerous tendency to lose touch with the thoughts, feelings, and needs of their customers. They tend to talk only among themselves, and what is worse, they listen only to each other. They lose touch with the reality of their customers. If you are in business, and if what you do affects your customer, you should mentally erect a statue of the customer and place it in the middle of the table when you discuss any plans regarding your products or services. Always ask yourself; if the customer was sitting here listening to us, what would the customer be thinking? What would the customer say?

Action Exercise

Make a list of all your customers, both inside and outside of your business. Write down the names of your boss and co-workers, your outside customers and contacts, everyone with whom you deal, including your staff

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Remember, we are only in business because `our` customers allow us to be.

--------->>>
More Economics and Business Inspiration with the secrets to success:
`Accelerate with Impact` -
by Colin Thompson ISBN: 978-1-84549-289-2

Accreditation: UK Registered Learning Provider:10025755

ENDS

About the Author Colin Thompson

Colin is a former successful Managing Director of Transactional/Print Manufacturing Plants, Print Management/Workflow Solutions companies and other organisations, former Group Chairman of the Academy for Chief Executives and Non-Executive Director, helping companies raise their `bottom-line` and `increase cash flow`. Plus, helping individuals to be successful in business and life in general. Author of several publications, research reports, guides, business and educational models on CD-ROM's/Software and over 400 articles published on business and educational subjects worldwide. International Speaker and Visiting University Professor.

The Law of the customer!

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