In 1983, Kimberly-Clark Corporation invented an inexpensive felt that was waterproof, air permeable, and seamless. I believed that athletes would prefer this felt to Gore-Tex because water leaked through its seams. However, Kimberly-Clark never commercialized their invention. When its patent expired, Weifang Chenhua Waterproof Co., Ltd. in Shandong, China, began selling the felt for pennies per square meter.
Aesop encourages us to offer different strokes for different folks. We learn that trying to please all customers will please no one. Offer products and services that key customers will treasure and discontinue other items.
Key customers produce 80 percent of the profits and are willing ...