How annual reports communicate a customer orientation
Article Abstract:
This article deals with the frequency with which CEOs express their companies commitment to customers in the president's letter section in their companies' annual reports. It focuses on manufacturing companies operating in industrial markets. For the purpose of the research, a typology of references, including customer commitment, made to "customer(s)" in presidents' letters is developed. The construct of customer commitment is based on a search of relevant literature. Results show that only a small percentage of companies use the president's letter in their annual reports to communicate commitment to customers. In fact, some president's letters fail even to mention the word "customer(s)." The authors conclude there is an overlooked opportunity for companies to use the president's letter to communicate customer commitment. The issue of companies who talk about customer commitment, but who do not perform accordingly in the marketplace, is also addressed. (Reprinted by permission of the publisher.)
Publication Name: Industrial Marketing Management
Subject: Business, international
ISSN: 0019-8501
Year: 1991
User Contributions:
Comment about this article or add new information about this topic:
Meet today's buying influences with value selling
Article Abstract:
Industrial customers have become value buyers. They pursue not low price, but least total cost of the purchase. That means price plus the costs of acquisition, ownership, use, maintenance, repair, and replacement. The challenge for industrial marketing and sales is to recognize this development and become skillful value sellers. We sell value when: 1. We satisfy customer requirements - expressed and implied - reliably. 2. We do so cost effectively by: reducing customer cost, avoiding customer cost, offsetting customer cost by increasing his revenue or improving his cash flow. (Reprinted by permission of the publisher.)
Publication Name: Industrial Marketing Management
Subject: Business, international
ISSN: 0019-8501
Year: 1991
User Contributions:
Comment about this article or add new information about this topic:
Differentiate with the 5th P: people
Article Abstract:
This article examines traditional marketing views of employees to develop a differentiated marketing strategy to gain a competitive advantage. Based on a suggested topology of employees, it is proposed that employees be recognized as a distinctive element of the marketing mix - people-power - and consequently as an integral part of marketing strategy. By managing its employees in terms of newly defined, customer-related roles, an organization can gain a competitive advantage by being perceived as distinctly different from its competitors. (Reprinted by permission of the publisher.)
Publication Name: Industrial Marketing Management
Subject: Business, international
ISSN: 0019-8501
Year: 1987
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The growth of securitisation. Raising finance in the current climate. Hammond Suddards Edge
- Abstracts: How to grow a CEO. Multinational corporate communications: a growth sector. Asea-Brown Boveri: generating new hope for Europe
- Abstracts: State aids in the EC: who spends what. Global marketing is a minefield. Europe's business knights regroup
- Abstracts: A new world order for oil. Western joint ventures in Japan. Getting British managers on the right track