a. The battle for customers is worldwide, not just local. There is a worldwide market of 7 billion customers. America has to get 10% consumer growth (by using smart customer science) per year to stay ahead of the Chinese. We must be the best at understanding the minds of worldwide customers or suffer the economic consequences.
b. One painful example of that negative consequence of slipping behind China and India is found in the automotive industry. Detroit lost sight of what customers wanted—affordable, efficient transportation. But Honda and Toyota, among others, got the message and produced cars that Americans bought and bought. The U.S. took its sights off what customers want and lost that race.
c. Customers want companies that understand their needs, satisfy those needs, and become trusted partners in their lives and businesses. Gallup has come up with an excellent customer engagement survey (see pp. 122-23). This is worth reviewing in terms of your own organization.