Question: Studies of companies that are leaders in achieving exceptional customer profitability.shûÂ._ that there are six steps they have taken to do so:
(1) figure out the needs of your most profitable customers;
(2) get creative by imagining competitively superior ways to deliver value to customers;
(3) test and verify your hypotheses;
(4) tell customers how great your value propositions are;
(5) apply the best approaches on a large scale; and
(6) start over, as even the most successful initiatives need to be revised over time.
What do you think of these suggestions? What are the implications for developing core competencies and distinctive capabilities? How could an internal analysis help an organization in this process?