Chapter 5 - Chapter 5 Review RMT 360 C Laske Chapter 5...

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Chapter 5 Review RMT 360 – C. Laske Chapter 5 describes how to differentiate customers and how the business needs to understand its customers’ differences. Understanding each customer brings an actual and a potential value to the business and some may actually bring a negative value. Knowing which customers are more valuable allows businesses to determine how to interact with each customer type, how to market to them, how to bundle products, and even how to staff their business. One size does not fit all when it comes to differentiating your customers. The customer’s value is based on their needs and not by the businesses current product offer. Topic of Interest 1 One big topic of interest from this chapter was the Customer Value Matrix (CVM). I got the most out of this because it reminded me of the Gartner Magic quadrant I often use at work. Similarly to the CVM, Gartner evaluates businesses and places them in one of four categories: Leaders (upper right), Visionaries (lower right), Challengers (upper left), Niche Players (lower left). This is to compare the businesses strengths
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