The study of the evolution of marketing illuminates the importance of keeping your customers for life.
Low supply of goods and services vis-à-vis to the demand was a driving force to the rise of
the Industrial Revolution in 1850’s. By considering the low level of completion and the supply of products, clearly, it was the seller’s market. Without concern for the customers’ satisfaction, the sellers were able to sell all their goods with high marginal profits. Gradual technological advancements and mass productions, as well as the rise of competition from foreign markets, have led to a buyer’s market where the supply of goods exceeded the demand. As a result, in the 1980’s customers’ satisfaction was key to business survival and there was a common understanding the sellers’ must meet the buyers’ expectations. And now, because of further imbalance between supply and demand, sellers not only must meet their customers’ expectations, but must exceed them.
By taking into account the critical role of customers’ satisfaction, Piaget Consulting will provide you with practical strategies to earn your customers’ trust and loyalty for life.