Customers are thoughtful people. They have choices. Customers may act on behalf of themselves or their households, businesses, or government offices. But regardless of who foots the bill, customers are intelligent decision makers. When they make a decision, three major factors are in play: price, quality, and reputation.1,2,3 Moreover, unless price is the only consideration by virtue of a “lowest bid” mandate, reputation will reduce customers’ sensitivity to price, increase sales volume, and accelerate the speed with which purchase decisions are made.
KeywordsSupply Chain Sales Volume Customer Experience Price Power Patent Portfolio
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