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How to Innovate in Marketing (Collection), 2/e by Tony Davila, Robert Shelton, Joan Kiddon, Larry Light, Michael Tasner, Monique Reece, Marc Epstein

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20. Why Do Customers Buy?

The “A, B, C, and Deadbeat Customers” exercise in Chapter 14, “Micro Perspective: Focus on High-Value Customers,” helped you segment and analyze your customer base. The next step is to analyze why your customers buy from you. Do you know what your customers value the most? What drives them to do business with you instead of your competitors? To answer these questions, you will create a “working hypothesis,” or best guess, about why your customers choose to do business with you. This question can only be answered one way: You need to ask them. The outcomes from the “Why People Buy” exercise later in this chapter will become part of your primary research.

Entrepreneurs have a sense of what motivates customers to do business ...

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