Today buyer is the king . We are living in a buyer’s market / economy. By neglecting buyer we cannot run our business and stay / survive in the market . Invisibly and indirectly the business is run by the buyer. Although the resources are at the command of the entrepreneur but the dictates are of the customer. We must produce that only what the consumer demands. Unless we deliver that , we are a failure. The buyer is much more educated and vigilant than the entrepreneur / salesman. It is extremely difficult if not impossible to make the consumer to empty his pocket. Either you have to fall in line with the buyer or convince the buyer. Only buyer dictates observance will make you stay in the market. The salesman need to enter the mind / psyche of the consumer.
As we talk of entrepreneur-investor meets today , the same way there must be open interaction between both in the buyers-sellers market. The businessman must never think of cheating the customer / consumer as today there are many acts favoring consumer such as COPRA (Consumer Protection Act) . Such businessmen will never flourish / bloom / blossom. CHEATING IS ALWAYS SHORT-LIVED AS THE SECRET WILL OPEN SOON.
If an entrepreneur is willing to stay and survive in the market then he must win the confidence of the consumer by his fair dealings. A satisfied customer will bring five more and an unsatisfied will stop others not to come to you. Moreover display in your cabin that if you are satisfied then tell others and if not tell us. IF YOU DO NOT DELIVER , SOMEONE ELSE WILL AS PEOPLE ARE THERE ON CONSTANT VIGIL TO GRAB THE OPPORTUNITY AND YOU WILL STAND AS A LOSER. .
Where there is trust , there is open interaction and by this way only one develops. Concealment will cause loss. Be customer-friendly and customer-centric. Nothing must be more dear to us than the CUSTOMER DELIGHT & CUSTOMER SERVICE. We are there because the customer is there. Only customer keeps the factory running.
The buyer is the king because of market glut and cut-throat competition. Today we find boards displaying heavy discounts and not only this but on a minimum purchase there is some item free or you can en-cash your points. This way the company can have bumper sales. There will be outlets delivering goods at factory cost. The buyer has a say as he has wide options & choices.
If you take care of buyer then the buyer will take care of you. DELIVER CHEAP & BEST. The entrepreneur to cut down / contain his costs and wastes . This way one can have a better turnover surpassing many sitting in the market with even a lesser margin. This in nutshell is the GAME OF TURNOVER theory. Understand the buyer and step into his shoes.
Dated 27th June, 2015