Example: Levi's were the blue jeans of choice for at least two generations of young people. But, in 1997, Levi Strauss & Co. announced it would lay off over 6,000 workers from its manufacturing locations nationwide. Why? First, increased choice and competition from both the high and low ends of the marketplace have lured Gen-Xers away from the Levi's brand; second, the company's huge traditional customer-base — younger Matures and older Boomers — can no longer seriously see themselves as Marlon Brando, James Dean, or Peter Fonda (even introducing "relaxed-fit" jeans didn't help). Khaki has now become the cloth for all seasons.

What this means to you. By the '80s and early '90s, consumers of financial products and services had greater access to information, and were demanding greater choice. Realizing this, and the inherent limitations of hit-or-miss marketing and kiss-and-go transactional selling, financial service professionals began turning to a more client-oriented approach called relationship-based selling.

The mission was (and is) to focus proactively on problem-solving and meeting the buyer's long-term needs and wants. The rewards would be (and are) mutually profitable client relationships leading to cross-selling opportunities and increased market penetration.

This was seen by some as radical, outside-the-box thinking. Today, it is simply true.