Obsess About Your Customers, Not Competitors
Immerse yourself in the world of your clients to appreciate their true expectations
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In a recent discussion with an automotive executive, he shared with me the industry’s 15-year-long obsession. Ever since Toyota launched Lexus and redefined how a car company and customers interact, others have been trying to imitate that model.
“What are you trying to achieve?” I asked. “Competitive advantage, of course,” was the reply. “Ever consider a customer advantage?” I replied.
The obsession with competitive advantage is a product centricity relic to which companies are still attached. By doing so, they miss a broader context in which their products, services, and ultimately experiences are being judged. The person who goes to Starbucks for a morning coffee also vacations at Disney, flies Virgin Atlantic, uses an American Express card, shops at Zara or Nordstrom, and indulges at a Ritz Carlton resort. That same person submits an application for a passport, dines at restaurants, shops for a car, and goes to a doctor. Frequently, he also purchases business-to-business products.
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