In western markets, we typically observe that firms win business on the basis of a superior product or service offering or because they are the low price bidder. Then, the best firms develop relationships with their customers and over time build a relationship advantage that leverages their product, service, or cost advantages.
In some emerging markets like China, we find the pattern is reversed. Relationship comes first. It’s almost as if the assumption is that if the relationship is strong, then the two firms can solve any issues that exist with respect to product, service, or price.
There is a strong lesson in this for western firms about the need to invest in business relationships. It’s not only critical when they target new markets like China, but it’s a lesson that can apply even in the more traditional developed markets.
What can be learned from other geographic markets, firms or industries about building CoDestiny relationships?
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Investing in Business Relationships
Friday, October 15, 2010 - Permalink
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"CoDestiny reveals the key to unlocking the power of your business' Relationship Advantage. Pope and Brown transform the way every business must view their relationships in this new business environment!"
Ed Wallace, author of the critically acclaimed book Business Relationships That Last, Newtown Square, PA