Page 165 - principles of tourism marketing-1 (1)

 Customer focus should be treated as a subset of the corporate

strategy rather than the sole driving factor. This means

looking beyond current-state customer focus to predict what

customers will demand in the future, even if they themselves

discount the prediction.

Key words:

 dissonance: A state of disagreement or conflict.

 customer retention: An assessment of the product or service

quality provided by a business that measures how loyal its
customers are.

 demand: The desire to purchase goods and services.

Demand is the economic principle that describes a consumer’s

desire, willingness and ability to pay a price for a specific good or

service. A firm in the market economy survives by producing goods

that are in demand by consumers. Consequently, ascertaining

consumer demand is vital for a firm’s future viability. Many

companies today have a customer focus. In this approach,

consumer wants and needs are the drivers of all strategic

marketing decisions. No strategy is pursued until it passes the test

of consumer research. Every aspect of a market offering, including

the nature of the product itself, is driven by the needs and wants of

potential consumers.

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