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Core curriculum reading
-
Reference no. 8171
Subject category: Marketing
Authors:
Published by:
Harvard Business Publishing (2014)
Version:
30 June 2014
Revision date:
30-Jan-2019
Length:
29 pages
Data source:
Published sources

Abstract

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 - giving customers a much stronger voice in both the Business-to-Business (B2B) and Business-to-Consumer (B2C) sectors. Customer centricity fits three ways into an organization: as part of a knowledge management system (understanding the customer), as part of the development of strategic competence as a learning organization (building a customer-centric culture), and as a foundation for corporate strategy development and execution (serving the customer). This reading is organized into three main sections covering these topics and uses many examples from diverse industries to illustrate successes in each area. In addition, a supplemental reading examines the dynamic between customer centricity and innovation and also provides a contrarian view to the topic. This reading also contains two videos on customer centricity: one asserting that humility and curiosity are the only way to gain a deep understanding of a marketplace and its customers, and one on how Trader Joe's focuses on maximizing the customer experience. For classroom use in higher education.

Topics

Consumer marketing; Cross functional management; Customer experiences; Customer feedback; Customer relations; Customer relationship management; Customer retention; Customer satisfaction; Customer service; Marketing; Organizational culture

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