Customer Orientation

Customers are defined as end users who buy products and services. Since companies' highest priority is to make their customers satisfied, customers [Page 106]are considered to be the most important assets for all companies. In particular for new venture companies, it is necessary to rewrite the definition of “customer,” because the concept of customer for new ventures is different from that of established companies. Generally, traditional large-scale and established companies have existing customers. New ventures, by contrast, have prospective customers or lead users who are expected to buy products or services after the new venture is created and the new product or service is launched. Therefore it is important for new venture managers to understand the positive role of prospective customers for the creation of ...