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Who is Our Customer?. Scott Wisner-D7150 USA/Canada Conference Reno/Sparks February 29, 2008. The Basics.

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who is our customer

Who is Our Customer?

Scott Wisner-D7150

USA/Canada Conference

Reno/Sparks

February 29, 2008

the basics
The Basics
  • “A customer refers to individuals or households that purchase goods and services generated within the economy. The word historically derives from "custom," meaning "habit"; a customer was someone who frequented a particular shop, who made it a habit to purchase goods there, and with whom the shopkeeper had to maintain a relationship to keep his or her "custom," meaning expected purchases in the future.”

Wikipedia

point of reference types of transactions
Point of Reference Types of Transactions
  • Goods for Money
    • Product someone wants
    • Money available to buy the product
    • A product that fits a need and performs to expectations
    • Perceived value matches price
types of transactions
Types of Transactions
  • Services for money
    • Service that is needed/wanted
    • Perceived value in service
    • Price within means of customers
    • Service that lives up to expectations based on cost
types of transactions5
Types of Transactions
  • Trading
    • Exchanging things of relative value.
    • Can be goods, services, opportunities
    • Oldest form of transaction
elements of transactions
Elements of Transactions
  • Products or Services
  • Vendors/Suppliers
  • Customers
  • Investors (sometimes)
what makes a customer
What makes a customer?
  • Makes product selection decisions
  • Chooses to buy
  • Usually is given final control over the transaction
  • Benefits from the product
  • Has the right to complain if the product does not live up to expectations
  • Can make recommendations to friends and others when products exceed expectations
what makes a vendor supplier
What makes a Vendor/Supplier
  • Has a product or service to offer.
  • Has to stand behind his products for future sales.
  • The Vendor’s products ideally are positioned to fill a particular need.
  • Vendors often gives up control over the transaction to customer.
  • Is often a customer for someone else.
  • The quality of the vendor is often revealed in what they do when a product fails.
what makes a product a product
What makes a product, a product?
  • Has benefits to customers.
  • Has particular expectations.
  • Not all products of the same type are the same quality, performance or have the same reputation.
  • Product brands vary in quality, performance and cost.
  • Products can improve through their “use”.
  • Products that fail can tarnish or ruin the vendor’s reputation.
  • Products that exceed expectations can enhance the reputation of the vendor.
who is your customer
Who is your customer?
  • How you think of and “position” your students is what determines who your customer is.
  • Customers choose, products are chosen.
  • Investors are simply a means to finance an activity and get a return on their investment. They are “vested” in the product’s success.
  • Every “supplier/vendor” has to be responsible for the products they offer into the “market”.