Final answer:
Improving customer service is the key to building customer value and loyalty for a customer-focused business. Focusing on a few quality offerings and building a good reputation can lead to repeat customers and higher pricing based on trust.
Step-by-step explanation:
A customer-focused business can build customer value and loyalty by improving customer service. This approach is essential to gain positive feedback, which can lead to more opportunities and higher job satisfaction. Focusing on a few excellent products or services, often referred to as the business's 'core competency,' is generally more successful than trying to offer a wide range. By building a good reputation, businesses encourage repeat customers, who are likely to recommend the business to others, bypassing concerns about product quality and allowing for potentially higher pricing due to the trust established.