Many of the most notable companies that have experienced stalled growth did so because they lost their focus on their target customers, whereas companies that keep a well-defined customer in mind generally keep growing. Let's look at a few examples.
Walmart targets "people who live paycheck to paycheck." That simple statement implies a host of demographic, lifestyle, behavioral, attitudinal, and need-state characteristics that define Walmart's core customer. Meeting that customer's needs has historically defined everything Walmart has done, from its real estate decisions to its store layout to its famous cost-management discipline.