Know your Customer

Riley, Michael J.
January 1999
Financial Executive;Jan/Feb1999, Vol. 15 Issue 1, p38
Academic Journal
The article explains customer analysis which looks at the dynamics and profitability of sales. Customer analysis requires that cross-functional groups evaluate actual customers rather than customer segments by using profit and loss statements for each customer and ranking the consumer in terms of profitability. The airline industry's discount fares for target markets are an example of a strategy where something is sold at a low profit or at a loss with the expectation of an increased volume of sales. However, this strategy did not recognize the value of repeat business from business travelers. The U.S. Postal Service, which analyzed costs for a rate increase, is given as an example of customer analysis.


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