American business is dysfunctional. Companies of all sizes follow the mistaken belief that their products and services are best sold through mega-customers with pervasive market reach, such as Amazon and Walmart. Far too many business leaders fail to realize--until it is too late--that the relentless pursuit of volume at all cost is not the key to long-term profits and success.

The Customer Trap: How to Avoid the Biggest Mistake in Business is Thomas and Wilkinson's sequel to The Distribution Trap: Keeping Your Innovations from Becoming Commodities, which...