Numbers are a significant prevention strategy for individuals and businesses.
People change their lifestyle on the basis of numbers such as blood pressure and cholesterol level.
Businesses change their brands on the basis of sales numbers and unique visitors.
The tracking of your company's vital signs not only monitors its health, but will point to opportunities for increased fiscal fitness. Unlike humans, companies can develop new vital signs. Not long ago, statistics such as “hits on a web site” meant more to spiders than to Internet businesses.
At least an annual reassessment of your company’s vital signs will ensure that the decisions you make are based on information that is in sync with the marketplace and your customers.
Vital Signs = Qualitative, Quantitative and Competitive Intelligence
Retailing is Anything But Simplistic. You Must Know Your Customers.
The ultimate goal of retailing is to bring together supply and demand; to provide consumers with a selection of goods and services that satisfy their needs profitably. A saturated, hyper-competitive retail environment requires retailers to gain access to consumers ahead of the competition with a clearly differentiated value message to win the purchase.
Today the customer is rewriting their purchase criteria. Purchasing has much more to do with a consumer's priorities in life and desire for intagible elements of the purchase.
Successful retailers are responding to super abundance by understanding their core customer and shifting their paradigm from selling merchandise to selling experiences and lifestyles.
