The Myth of Excellence: Why Big Companies Never Try to Be the Best at Everything

Author: Frederick Crawford, Ryan Matthews
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Features: A lens through which to observe consumers; an extraordinary book that can help you create legends in the business world! What do customers truly need? How can companies best serve their customers? After years of research, the authors discovered a new consumer group that existing companies often overlook. They demand recognition, respect, trust, fairness, and honesty, pursuing a new social standard. While most companies claim to deeply understand their customers, they have never truly acknowledged this need or listened to these customers. Companies are often obsessed with "world-class standards" and "excellence," striving to stand out in every aspect, but in the process, they lose their unique identity and are not remembered by customers when they need them. The authors propose the concept of "consumer relevance." In terms of price, product, access, experience, and service, companies should excel in one aspect, stand out in another, and meet industry average standards in the remaining three. Companies do not need to invest equal time and resources in every area, as customers do not expect them to do so.