know your customer better than any one I have never met a marketing manager or business proprietor who did not want to reduce marketing costs or increase the return on dollars spent on marketing. With this in mind, I have started the year with my first 10 THOUGHTS on how to maximise return on investment in marketing. This is the […]

know your customer better than any one I have never met a marketing manager or business proprietor who did not want to reduce marketing costs or increase the return on dollars spent on marketing. With this in mind, I have started the year with my first 10 THOUGHTS on how to maximise return on investment in marketing. This is the ninth. Venture capitalist, Mark Cuban, once suggested that the three most important rules of business are: (1) target the smallest possible market; (2) demonstrate a strategic competitive advantage; and (3) recognise that the ‘customer owns your arse’. This THOUGHT addresses the second of these rules. I am not a fan of shopping at any time, and I particularly despise shopping in a Myer store. I have found the product range to be average, the service poor, the environment uninspiring, and the pricing to be nothing special. At least some of the reasons that Myer has…