Smart businesses re-evaluate their product lines and take a deeper look
at their customer needs and expectations to come up with better ways to please them.
Not exact matches
They typically react (slowly
at best) to three outside drivers: (a) their competition brings a new offering to market, and they
need a quick competitive response; (b) their
customers see and begin to adopt new processes and solutions, and the
customers demand that their products and services conform to the new ways of doing business; or (c) they see a new tool, product, or service in the market offered by a new player and they quickly determine that this is a game - changer which they
need to own (rather than try to build themselves) because they lack the internal capacity to do otherwise.
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing
customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7)
customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and
customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other
customers; 11) our ability to enter into profitable supply arrangements with additional
customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major
customers, Boeing and Airbus, and other
customers, and the risk of nonpayment by such
customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their
customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or
at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital
needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
It might be possible that they will have to work harder
at gaining the
customer's trust than someone who hangs the «open» sign in their window and has people flock to them to satisfy their
needs.
Make sure you determine the viability of your market presence right
at the get - go, or you may find yourself without the
customers you
need to survive.
Because of Northway's and Smith's backgrounds, the Of Mercer cofounders understand the
needs of their
customer better (most designers
at mass - market brands have never set foot in a corporate environment), and their designs reflect that.
If you want
customers to use your online store again and again, then you
need to ensure they don't abandon their shopping cart
at the last point due to frustrating payment problems which can be easily avoided.
To do this, retailers have to do more than blindly throw darts
at the AR wall; they
need to consider the
needs of
customers and the goals of their companies.
Instead of keeping the money it doesn't
need pay in claims, the company takes a fixed rate of its
customers» premiums and donates any unclaimed money to charity
at the end of the year.
Which of their
needs does your product or service meet, and
at what point will it meet that
need during a
customer's life?
Meanwhile, there are «
customers who have a
need to have a room
at the very last minute.»
And while some older people may discount Mulcahy's strategy of using a chat box on her website as impersonal, she sees it as a way to communicate with
customers on their time table — maybe
at 11 p.m. when they happen to
need a tutor or want to book an appointment.
We bring a very
customer - centric focus to smart home and we looked
at the smart home industry and realized that a lot of the products out there weren't meeting
customer needs.
It's no longer about pushing out a product or a service based on operational
needs, but rather engaging with the
customer on every channel
at as many points along the path as possible.»
Imagine that you have identified your
customer, found where he or she spends time online socially, created meaningful content to increase awareness and engagement with those
customers, and then served up a buyable experience
at the very moment they discover a
need for your product.
While you may
need to offer free shipping —
at least as a promotional feature during the holidays — to retain and attract
customers, don't jump into it too quickly.
The fun name «does a lot of work for us» in sparking interest in Tangerine, Aceto says, but service
at the
customer level
needs to be thoughtful and earnest in order to build a client base.
Hunt says the other mistake companies make is to listening to their
customers, because «
customers are poor
at knowing what they
need.»
As a mathematician
at heart with an introverted personality, she
needs solitude and complete silence to concentrate on the details and complexities of her work which includes finding real estate that matches to her
customer's
needs and keeping the finances up to date for my many ventures.
You
need to find ways to get into the target
customer's buying process earlier and to engage them across different channels with great content
at key stages of the buyer's journey.»
Zappos has ordered a pizza for a hungry
customer: Whether businesses do something thoughtful, reward loyal
customers with a simple thanks or give away free products, they — like the NFL —
need to keep fans
at the edge of delight and deliver something unexpected.
«Our
customers continue to tell us that the
need to save time has become just as important as the
need to save money,» Daniel Eckert, senior vice president
at Walmart Services, said
at a media briefing and demo on Monday
at a store in North Bergen, N.J.
In companies with forward - thinking leadership,
customer experience improvement initiatives will
need to start
at the C - level and spread throughout the rest of the company.
Take a close look
at the current factors that support your company's success (or lack thereof) with that
customer, and you can begin to understand how your company is filling industry
needs.
Finally, and this is perhaps the most noteworthy point, I'm certain they would all agree that business and entrepreneurial success is based primarily on developing products and services that are far better
at meeting critical
customer needs than the competition.
There are some glitches: For example, there's a baker in Chicago who
needs all baguette orders to be in by 5 a.m. for same - day delivery; if a
customer orders baguettes
at noon, we can't deliver until the next day.
You can grow without new products —
AT&T sold essentially the same telephones for decades while becoming the world's largest telecommunications concern — but most small companies will find it difficult to grow
at all, much less rapidly, without a constant stream of new products that meet
customer needs.
Make a list of key contact people
at vendors, partners, and
customers who may
need to be contacted in case of emergency.
Your support team
needs to have thick skin — there undoubtedly will be a situation
at one point or another that involves an irate
customer cursing and out for blood.
Creating an environment that impresses
at first sight when the
customers walk in while also utilizing the resources you have and no more than you
need is the goal.
A week later, Wendy's CEO echoed Andres, saying the widening gap between prices of food
at home and food served in restaurants meant companies
needed to provide
customers with new reasons to eat out.
But when the
customer says «I want it this way, and it's standard
at ABC Widgets,» you should suspect you aren't keeping up with changing
customer needs.
Entrepreneurs
need to spend much less time
at their computer imagining their new business and more time out engaging with real, live
customers.
Entrepreneurs
need to spend less time
at their computer imagining their new business and more time with real, live
customers.
We
need businesspeople that are good
at listening to their
customers, and their
customers»
customers — because that's where AI has a real impact.
With years of experience in a particular industry, «these types of entrepreneurs are not only very well positioned to feel what is
needed in the market — as they understand it perfectly — but they are also usually pretty good
at executing their business as they easily earn their
customers» and partners» trust because of their credibility and legitimacy,» claims Soussan.
Adding clear plastic shelf dividers
at the edges of shelves can prevent thieves from sweeping a shelf while allowing
customers to hand - select the items they
need, says Bill Alford, president of International Lighthouse Group and member of the ASIS Loss Prevention committee.
Song believes the future lies in artificial intelligence — machine learning that can look
at a
customer's online profile and understand whether he is the sort of person who
needs two new white dress shirts for work, plus a Kanye West — approved hoodie.
That's why it's so important to ensure that your suggestion fits the
customer's exact
needs at the very moment he or she is discussing them with you.
For instance, if the capital equipment required is capable of handling the
needs of 10,000
customers at an average sale of $ 10 each, that would be $ 100,000 in sales,
at which point additional capital will be required in order to purchase more equipment should the company grow beyond this point.
With new capabilities, the company hoped to improve its demand forecasting — specifically by narrowing the focus from warehouses down to individual
customers to better predict how much of which products was
needed on any given day
at any particular store or vending machine.
For instance, if the number of
customers for first year sales is projected
at 10,110 and one marketing employee is required for every 200
customers, you would
need 51 employees within the marketing department: 10,110 / 200 = 51
Some of those ideas percolate up from the shop floor via ambassadors who share them (along with any challenges) with management and other divisions
at monthly meetings; management susses out what their
customers need and feeds that info back to the ambassadors, who take it to the shop floor.
If you can figure out how to get it from the
customer perspective, how you can make it nonlinear, and understand the nonlinearity of it, as well as incorporate exogenous factors, then you have a chance
at understanding potential unmet
needs as well.
Brands, no matter size, years in business, or amount of funding,
need to be thinking about
customer experience
at every step, whether launching a new product or revamping an existing one.
He
needed each new location to plumb different types of
customers or else he'd be vulnerable to the same buying patterns
at all his stores.
Using the new platform,
customers would
need to make a reservation through Groupon after buying the deal, instead of redeeming the deal
at any time.
Walgreens might be a 116 - year - old drugstore but it is feeling the
need these days to remind
customers it's a pharmacy chain that can be
at the center of their health and wellness.
A
need to win
at your
customers» expense is a fundamental moral lapse.
They've got to really look
at maintaining and evolving their brand and that's as simple as continuing to grow as a person and continuing to look
at what is out there, what your
customers, what your end users
need.