TABLE OF CONTENTS This may seem like a ridiculous question but it is often surprising how little some businesses really know about their customers. For example, do they fit into stereotype groups (usually described as market segmentation), or do they share common characteristics in terms of their size and types of organization? How many customers of each type do you have, and which types generate the most profit for your business? What do you know about their buying patterns, e.g. the products they select, the volume of purchases and the frequency or regularity of orders? Have these patterns changed recently, and are the changes positive or negative? What are their key criteria for buying from you, as opposed to another supplier, e.g. low price, quality products or reliable service? Do you actually know who the decision-makers are in the businesses that buy from you, and when did you or one of your staff last speak with them?
Are you able to retain customers or do they tend to change frequently? Of your total customers, how many of them trade with you on a regular basis? How many of them have been trading with you for more than twelve months? How do these various patterns compare with those of your competitors or other firms in the same industry? Are your customers loyal out of choice or because there is little competition? Do you think that they would be likely to recommend your...
