Discussion Post: Customer Centricity
Without customers, businesses could not succeed. The term "customer centric" has, therefore, become synonymous with proactive business strategy worldwide. Primarily due to advances in technology, we are experiencing a fundamental shift in marketing - from a previous focus on companies to a spotlight on consumers. This gives customers a much stronger voice in both the business-to-business (B2B) and business-to-consumer (B2C) markets. This core reading discusses how customer centricity fits into an organization in three ways:
• as part of a knowledge management system (understanding the customer);
• as part of developing strategic competence as a learning organization (building a customer-centric culture); and
• as a foundation for corporate strategy development and execution (serving the customer).
Following your review, prepare responses to the following discussion questions:
• According to research, what are some of the key customer-centric characteristics of successful companies?
• What are some of the ways that technology has shifted power from companies to consumers?
• In discussing Net Promoter Score (NPS), why does Reicheld suggest doing surveys frequently rather than annually or just a few times a year?
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.