From the course: Assessing and Improving Strategic Plans
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Reacting to customer behavior changes
From the course: Assessing and Improving Strategic Plans
Reacting to customer behavior changes
- Customers can be fickle. Their tastes or interests can change quickly. Consumers can change fast, but business customers can change even faster. For business customers, changes in their markets and businesses lead them to behave differently when it comes to buying from you. They may miss their earnings targets, they may experience a merger or acquisition, or deal with a large regulatory event. That's going to change their buying behavior. Careful monitoring of customer trends and reacting quickly to them is a large contributor to your strategy's success. My firm provides training services. Most of what we do is in-classroom training for large corporations. We've been looking at trends in our market. There haven't been any major shifts in the way training is delivered. But we've also looked at our customers' markets and understood what's going on with them. They've faced increase cost pressures. They're trying to do more with less. They have less time to dedicate to training in the…
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