CIO Challenge: Grow the Business While Cutting Costs
It looks as if business conditions are starting to change for the better, which brings with it a whole other set of challenges.
For a supplier to command a higher price or to win a customer's business over its competition, the business customer must perceive that it will be better off buying from that supplier-and that it in fact prefers the supplier's higher-priced product.
According to authors Atlee Valentine Pope and George F. Brown, this statement defines the way business customers make decisions and creates a framework for determining how a company can create value for them.
In our Knowledge Network excerpt from their book "CoDestiny: Overcome Your Growth Challenges by Helping Your Customers Overcome Theirs," the authors break down this framework, revealing the three fundamental ways in which companies can create value for potential business customers: increasing market share, increasing prices and cutting costs.
Read this excerpt, the entirety of chapter five, to learn more about driving growth in your business by unlocking the secrets of the customer chain.