IN CONTEXT
Customer service
1874 French mathematical economist Leon Walrus recognizes that small changes in consumer preferences have a big impact on business.
1913–1914 Henry Ford, US industrialist, installs the first production line, and informs companies that cheaper per-unit costs are the key to their sustained growth.
1957 US marketing theorist Wroe Alderson stresses that a business needs to grow and adapt to changes in order to survive and thrive.
1981 US marketing thinkers Philip Kotler and Ravi Singh coin the term “marketing hyperopia” to describe the problem of businesses having a clear view of distant issues but not of close ...
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