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Inside this Book – In a recent survey, the Conference Board asked CEOs to rank various business priorities and found unsurprisingly, that the top priority was business growth. Procter & Gamble (P&G) CEO Bob McDonald highlighted the point by saying “We’ve got to grow; that’s the main thing.” 1 Growth is the goal in normal times, and is especially the goal in depressed times. Growth, however, is not that easy to achieve, even in normal times. And even before the Great Recession started in 2008, times were far from normal. Excess supply existed in almost every industry. Companies found it hard to raise or even hold prices. Their margins were low and in danger of getting lower. The onset of recession and its slow recovery have only worsened the situation. Companies find that they don’t merely need a growth strategy; they need a defense strategy.
Inside this book –Market Your Way to Growth PDF Book by Philip Kotler – We live in a world characterized by an abundance of goods and services. In fact, almost every good is available in oversupply. A car buyer has countless car types and brands to choose from; a mobile handset buyer has a plethora of handset brands to choose from; even a builder of a new factory has so many steel and cement companies to choose from. We are not in a goods shortage economy; rather, we are in a surplus economy. There is only one thing in short supply here: customers. Therefore,the customer is the center of our struggle. So how do we compete for, win, and keep customers? Because the cost of losing customers and replacing them is much too high, we must learn first and foremost how to keep them. When studying General Motors, John Goodman of TARP—one of the leading specialists on factors in customer satisfaction—found that General Motors had to spend five times as much to attract a new customer as to hold on to an existing one. 1 He estimates that it may cost 20 to 50 times as much for business-to-business (B2B) situations. This is precisely why we need customers to keep coming back to us as a result of being satisfied. However,even satisfying them doesn’t guarantee that they won’t leave when they get a better offer. We really want to delight them, and turn them into fans and advocates who tell others how good our products and services are. But how do we do that? There follows another realization: our company is not the only one that affects our customers.
Market Your Way to Growth by Philip Kotler PDF : eBook Information
- Full Book Name – Market Your Way to Growth
- Author of this Book – Philip Kotler
- Language – English
- Book Genre – Business
- Download Format – PDF
- Size – 3.9 MB
- eBook Pages – 242
- Price – Free