The Behavior of Suppliers and Consumers

We are all customers, so we need look no farther than our own buying behavior to know the truth and to understand that today’s customers shop and buy differently. Customers have access to new sources for information, products and services, and will select those that best meet their needs. Customer loyalty is a quaint notion today. To succeed in this new environment, suppliers need to understand the needs and actions of these new customers better. Then they need to structure their channels and sales efforts, so they fit with how customers want to shop, rather than how suppliers want to sell. Value now must be proven in different ways than ever before. Customers didn’t always have this degree of flexibility. In the past, a supplier expected customers to pay for the information and services they used as they decided which products to buy, and then make the final purchase from that supplier.…