Achieving growth while maintaining quality customers is a goal many business owners aim to achieve. On the one hand, some customers are willing to pay a premium for a product or service of higher quality, while others are more sensitive to cost and may not see the value in something higher priced. A business can build brand equity with some of these customers who seek out superior products and services, and thereby create a loyal customer base, resulting in a stream of new business.
However, consistently delivering on expectations to these customers may mean higher costs on behalf of the business and could result in a slower growth trajectory. Nevertheless, for any business owner, it will be a balancing act between operational and strategic goals that yields success.