Ahmadabad: (Press Release) Association of Muslim Entrepreneur had organized its 8th monthly seminar on “Connecting with Customer and Creating Customer Value” on 27th March 2016, Sunday at Cresent High School, Sarkhej in Gujarat. Prof. Piyush Kumar Sinha (a retail management guru and professor of marketing at Indian Institute of Management, Ahmadabad) delivered a lecture and interacted with around 50 participants including ten women.

In his one and half hour lecture and interaction, he taught and communicated following points

1. Being a small producer or seller might not be constraint for you.
2. Small producers and sellers might not leverage their strengths and focus on their core strengths because they are busy following what others are doing and trying to follow big players blindly.
3. Being a small producer or seller, it is easy for you to bring innovation quickly on the market. You can bring innovative products in small batches, so this gives you more flexibility compared to other big players.
4. We also need to ask, why customers are coming to us, what value we are giving? (This question should be asked when our business is doing good rather asking when we lose our customer)
5. Being a small producer and seller our competition is with our neighbors and shops. Sellers and producers nearby our shops or factories not with someone in other geographies (it doesn’t mean we don’t observe what others are doing in other markets or regions or city).
6. Try to give nonmonetary benefits to your clients and customers rather only focusing on discounts and low priced products/ services, so your competition can’t beat you in competition quickly.
7. Hear your customers, what they want and what they need, and based on their requirements, you can customize products and services for different segment of customers (this is possible for you because your small size might give you flexibility).

8 With changing environment (which is dynamic in nature), you need to redefine your core strengths and differentiated offerings (products/services) with changing environment.

9. In service sector, innovation can be in process of delivering service compared to product innovation.