The Upside of Strategic Risk

Sponsored By Oliver Wyman

Topics:

Budgeting & Planning > Planning , Strategy

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Abstract:

Perhaps the most insidious strategic risk is decimation of your customer base by shifts in behavior, preferences, and demographics. Customers are emotional, curious, and highly prone to change. Their priorities change from quality to price to solutions to style to brand. Every time customer priorities shift, your business design is at risk of losing a few customers, and eventually your most profitable customers. Thee best countermeasure for defeating customer risk is creating and applying continuous, proprietary information about your customers. It’s answering the question: What do we know about customers that others don’t? And then using that knowledge to make and keep profitable customers for life. At Coach, the maker of luxury bags and accessories, managers have figured out how to develop and apply customer insights that enable them to track and profit from even the most unpredictable shifts and twists of the fashion business.

DETAILS

Sponsored by: Oliver Wyman

Posted: September 30, 2008

Length: 8 pages

Format: PDF (211 kb)

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