Last Updated Oct 31, 2008 3:17 PM EDT
That is the message from Bob Donnelly, a business columnist who has worked with IBM, Pfizer and Exxon along with smaller companies. It might sound rather obvious but Donnelly insists it works. Some ideas:
- Use "crowd sourcing" which uses the internet to ask customers for ideas on what they want and what they want changed.
- Try advanced profiling of what customers are buying through serious study of credit and loyalty card programs.
- Send electronic discount coupons to customers who you know want certain types of products.
- Once you learn what customers want, make sure the stores nearby them are properly supplied.