This is from the book, The Marketing Gurus by Chris Murray.
Final Thoughts – “Lessons for the West”
1. Nurture grass-roots relationships with consumers and middlemen so that you can make intuitive judgement calls when necessary. Blind intuition without an understanding of the markets is dangerous, leading to mistakes in predicting customer behavior.
2. Balance sophisticated market research techniques with intuition about markets and customers. Numbers are necessary, but intuitive judgement based on hands-on research is also important.
3. Take one step at a time. Today’s markets are unpredictable. Enter new markets incrementally and be prepared to make adjustments. This approach gives you vital speed and flexibility.
4. High functional quality is just the starting point. A product’s status, image and customer service will differentiate it from other products in the eyes of customers.
5. Forget the idea that a company can “own” a market. Imitation is too easy; any competitor can shift customer preferences.
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