A customer base is a group of customers that a business serves, including potential customers. Loyal customers are important, and businesses use various strategies to build and maintain their customer base. However, businesses should also consider their own goals and adapt to changing customer needs.
A customer base is a group of customers that might be served by a business. Many people define this term as just consumers who already patronize a business, but others include any consumer with certain purchasing characteristics in this category, even if that customer has yet to be convinced to walk into the store or benefit from a product. Within the larger group is a subset of customers made up of loyal customers, also called repeat customers. It is generally considered an essential part of business strategy to convert all customers into repeat customers, although not all businesses aim to expand the customer base themselves.
There are many theories on how to build a customer base. These range from advertising to providing good customer service to special promotions. Customers who are attracted to the store by any mechanism are therefore potential consumers and therefore can be treated as part of the customer base. The challenge then becomes getting these customers to come back.
Regular customers are usually the most important part of the company’s customer base, as these customers are willing to constantly spend money in the store. These customers can also advertise the store’s positive qualities and spread the store’s name by word of mouth. Some types of businesses may not have customers who frequently shop at the establishment due to the type of product being sold, such as large purchases such as a television or computer. These businesses can benefit from customers who will repeat the experience with no regrets, even if they won’t shop at that establishment again for some time, as often these customers will tell other potential consumers about their positive experience.
Not all customer bases are pre-existing, because not all businesses are designed to serve a community need. For example, a company may offer a specific service with a certain appeal that creates a customer pool that didn’t exist before, giving people a service they didn’t even know they needed.
Thinking of customers as a unified group with certain buying characteristics may not always be the best way to keep customers satisfied. It’s important to keep the customer in mind, but designing a business that meets only customer needs and expectations without consumer independent standards may not translate into better business. Innovative entrepreneurial thinking involves an ever-changing perception of both customer needs and business goals, and the knowledge to adapt the course of business to these goals.
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