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Companies have several objectives like profit, revenue, market share, number of customer, .....
But they differ with setting the suitable order: which comes first.
Companies and organizations are divided into profit and non-profit organization. For the latest, profit is not an objective, unless it is necessary for the continuity. While for profit organizations, profit is the ultimate objective, but it is usually a long term objective that can be achieved by short term objectives. Under these short term objectives, we think about customer base, market share, brand, ...
So the answer is customers for the short term and profit for long term.
every company has the need to create a full satisfactory experience for their customers in all kind of business. Once this experience created, the company will generate a returning customers, the returning customers are crucial for the business growth - this is a simple action that requires all means of business aspects/tools.
For stability of business and its growth with a bright future I prefer More customers. Believe the principle "slow and steady wins the race" when business is the portfolio. Thank you sir
I will go with both options equally.
Profitable customers is the key for successful business. Profitable businesses are generally those that identify the right customers, build relationships with them and work to bring in new customers with a similar profile.
For sustained long term growth it must be more customers. More customer also mean more profit from one angle. when you have more customers the chances of it increasing in geometrical proportions through word of mouth is very high and you will also feel the power of the customer base. Even though we all work for profit, with out a considerable strength of customers your growth will be stagnated.
(Answer from your junior) ;) sir ji plant more trees today so that you can sit in Shade
after your retirement. ;)
Although Mr Jetty never voted up for me, I'm here to support his opinion !
The most top goal of any company would be a profit maximization !
This is crucial for it's ever lasting.
Here we should differentiate clearly the two words revenue and profit
Revenue is the total of all money that a company receives from people paying for its products or services, and profit is what is left over at the very end after the company has paid for the cost of goods sold, plus all of its expenses.One company could therefore have high revenue (people paying it billions of dollars) but still not be profitable, while another could have very low revenue, but nevertheless turn most of that revenue into profit for the company's owners. This is called "bringing revenue to the bottom line",
because of the simple math Revenue-Expenses=Profit
Then, same same we would differentiate the customer portfolio and a more profit by a product/company.