Keep your market definitions up to date ‐ or risk losing your customers

Abstract

“Our market is everyone living North of Main Street and East of Broad”. This sentence graphically describes a common problem: “framing” markets incorrectly, defining them according to our perceptions rather than the realities. Discusses why companies consistently wear blinkers when viewing their markets; describes the dangers of myopia in this important, but overlooked, area of strategy, and highlights typical causes.

Citation

Lele, M.M. (1997), "Keep your market definitions up to date ‐ or risk losing your customers", Managing Service Quality: An International Journal, Vol. 7 No. 5, pp. . 253-257. https://doi.org/10.1108/09604529710172908