What I learnt? Customer Behaviour: 1) Customer satisfaction only results in loyalty at the highest level of satisfaction - do not focus entirely on satisfaction 2) Improvements that are not sustainable can backfire - expectation = f(past performance.) Satisfaction = Performance - Expectation 3) Customers needs change slowly over time Positioning: 1) Understand you can not go after all segments 2) Carefully pick the customers you want to serve 3) Implement elements of your marketing effort to go after the segments selected 4) If done correctly, the simulation rewards any effort to build long-term relationships (loyalty) with customers Market Research: 1) Helps you make better decisions 2) Understand needs of customers, competitor actions and other aspects of the marketplace 3) But not easy to define and manage Pricining: 1) If market research says you are differentiated well enough can increase prices 2) Reducing prices is a slippery slope 3) Improvements in performance dont hedge against customers desire for more reductions