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Podcast: HBR On Strategy
Episode: How Well Do You Know Your Core Customers?
Description: Who are your primary customers? Harvard Business School professor Robert Simons says that’s the most important question of your strategy – and the hardest to answer.
Simons says that many firms make the mistake of defining their customers too broadly. To succeed, you have to target your resources at the people who really drive the most value.
“Resources are limited…and the more people we call customers, the more we’re diffusing resources and attention over all kinds of different entities and constituents that are not really at the core of the business,” he explains.
In thi...