Published by:
Harvard Business Publishing
Length: 12 pages
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Abstract
Customers, whether consumers or businesses, do not want more choices. They want exactly what they want - when, where, and how they want it - and technology now makes it possible for companies to give it to them. But few companies are exploiting that potential. Most managers continue to view the world through the twin lenses of mass marketing and mass production. They try to churn out a greater variety of goods and services and to tailor their messages to ever finer market segments. But they end up bombarding their customers with too many choices. A company that aspires to give customers exactly what they want must use technology to become two things: a mass customizer that efficiently provides individually customized goods and services, and a one-to-one marketer that elicits information from each customer. The process of acquiring those skills will bind producer and consumer together in what the authors call a learning relationship - an ongoing collaboration to meet the customer''s needs over time that will continually strengthen their bond.
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Abstract
Customers, whether consumers or businesses, do not want more choices. They want exactly what they want - when, where, and how they want it - and technology now makes it possible for companies to give it to them. But few companies are exploiting that potential. Most managers continue to view the world through the twin lenses of mass marketing and mass production. They try to churn out a greater variety of goods and services and to tailor their messages to ever finer market segments. But they end up bombarding their customers with too many choices. A company that aspires to give customers exactly what they want must use technology to become two things: a mass customizer that efficiently provides individually customized goods and services, and a one-to-one marketer that elicits information from each customer. The process of acquiring those skills will bind producer and consumer together in what the authors call a learning relationship - an ongoing collaboration to meet the customer''s needs over time that will continually strengthen their bond.