Legal Blog

Read | Delete – 3.17.14

Board of Directors in Mergers and Acquisitions“The problem is that today, there are so many companies out there…that are treating too many customers too well.” “Customer Centricity is about recognition of the differences across your customers…There is no single average customer; there is this wide variety of them, and they vary not only in their needs and what they want from a relationship with a company, but they also vary in terms of their value to the firm.  It’s imperative for the firm to figure out who the most valuable customers are, to start taking on tactics to create more value, to extract some of that value for shareholders, to find more customers who resemble the valuable ones…and bend over backwards to bring them in… I don’t want companies to be “firing” customers and I don’t want companies to treat customers badly. But some customers deserve better treatment, and that should be decided on the basis of what they’re worth to the firm.” – Peter Fader, Phd., Professor of Marketing, Wharton Source: “Delta’s New Frequent Flyer Policy: Reward Your Best Customers,” K & W, March 5, 2014. _________________________________________________________________ Got an interesting Fast Fact for a business audience? Please send and share it with our 1,623 subscribers. Thank you. Mike Mercurio