CUSTOMERS

CUSTOMER FACTS

 A customer is an individual or business that purchases another

company's goods or services.
 Customers are important because they drive revenues; without
them, businesses cannot continue to exist.
 All businesses compete with other companies to attract
customers, either by aggressively advertising their products, by
lowering prices to expand their customer bases or developing
unique products and experiences that customers love.
 "THE CUSTOMER IS ALWAYS RIGHT"

 Businesses often honor this saying because happy

customers are more likely to award repeat business to
companies who meet or exceed their needs.
 As a result, many companies closely monitor their
customer relationships to solicit feedback on methods to
improve product lines.
 TYPES OF CUSTOMERS
 External customers are  Internal customers are
dissociated from business individuals or businesses
operations and are often integrated into business
the parties interested in operations, often existing
purchasing the final goods as employees or other
and services produced by functional groups within
a company. the company.
 STUDYING CUSTOMERS
 Businesses frequently study their customers' profiles to fine-tune
their marketing approaches and tailor their inventory to attract
the most customers.
 Customers are often grouped according to their demographics,
such as age, race, gender, ethnicity, income level, and geographic
location, which all may help businesses cultivate a snapshot of
the "ideal customer" or "customer persona.“
 This information helps companies deepen existing customer
relationships and reach untapped consumer populations to
increase traffic.
 CUSTOMER SERVICE
 This strives to ensure positive experiences, it is key to a successful
seller/customer dynamic.
 Loyalty in the form of favorable online reviews, referrals, and future
business can be lost or won based on a good or bad customer service
experience.
 In recent years, customer service has evolved to include real-time
interactions via instant message chats, texting, and other means of
communication.
 The market is saturated with businesses offering the same or similar
products and services. What distinguishes one from another is customer
service, which has become the basis of competition for most businesses.
CUSTOMERS VS. CONSUMERS
 Customers are defined as  Customers are the
individuals or businesses purchasers within the
that consume or use economy that buy goods
goods and services. and services, and they can
exist as consumers or
alone as customers.
 CUSTOMERS DIFFER FROM PURCHASING AGENTS,
WHO USE CORPORATE CAPITAL TO BUY GOODS AT WHOLESALE
FOR COMMERCIAL OR INDUSTRIAL USE.
 CUSTOMERS VS. CLIENTS
 We often refer to customers who have a relationship with
the supplier as clients. Also, people who hire the services
of a professional are clients, not customers. For example, a
lawyer has clients.
 When a customer buys something, the seller immediately
focuses on the next one. However, with a client, the aim is
to cultivate the relationship.
 In many cases, the client-supplier relationship becomes
similar to a partnership. This does not tend to happen
with customers.
 CUSTOMER-CENTRIC BUSINESSES

 A company that has customers as its main focus is

known as a customer-centric business.
 In other words, customer-centric businesses do not have
the product or sales as the main focus of the business.
 Since the turn of the century, a growing number of
companies have become entirely customer-centric. This is
because of the emergence of the internet and e-commerce.
 Steve Jobs (1955-2011), co-founder,
Chairman and CEO of Apple Inc., once
said:
“Our DNA is as a consumer company – for
that individual customer who’s voting
thumbs up or thumbs down. That’s who we
think about. And we think that our job is to
take responsibility for the complete user
experience. And if it’s not up to par, it’s our
fault, plain and simply.”
 Henry Ford (1863-1947),
founder of the Ford Motor
Company, once said:
“It is not the employer who pays
the wages. Employers only
handle the money. It is the
customer who pays the wages
 TARGET CUSTOMER

 Advertisers try to target their messages to people who will be

interested in the contents of the advert. In other words, they aim them
at those who will likely want or need that product or service.
 To try to identify their target market, advertisers study several
demographic features, such as people’s gender, age, and income
 The more precisely you can define your target customer, the better
and more effectively your advertising vehicles will perform. In other
words, you will reach more of the right type of people for less
expenditure.