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Customer Centrality

In: Business and Management

Submitted By itsheer86
Words 5844
Pages 24
Running Head: CUSTOMER CENTRALITY

Customer Centrality
[Name of the Writer]
[Name of the Institution]

Table of Content

Part A 1 Introduction 1 Discussion 1 Interaction Response Capacity 3 Customer Empowerment 3 Customer Value Management 4 Customer Centricity 5 Evolution of Customer Centricity 7 Path to Customer Centricity 9 Customer Initiated Contacts and Competitive Intensity 14 Conclusion 15
Part B 16
References 20

Customer Centrality

Part A

Introduction

The roots of customer centricity can be traced all the way back to the late 1960s, when a relatively obscure ad agency executive by the name of Lester Wunderman gave birth to the idea that we know today as direct marketing. Many of the concepts you'll read about in this book, including the basic overarching notion that businesses would be well served to know absolutely everything about their best customers, are derived in some way from the ideas of Wunderman, who understood long before anyone else the value of keeping records (frighteningly detailed records, actually) about customer buying habits. What is new, however, is the competitive landscape and the incredibly demanding world in which you and your company are doing business. Today, more than ever before, many companies need customer centricity. They need it to compete in the short term and thrive in the long term.

Discussion

Companies that will enjoy the most success in the years and decades to come will be the companies that dedicate the resources necessary to not only understand their most loyal and committed customers, but also make the effort to then serve these valuable customers-and serve them in a way that will not only make them feel special but also maximize their value to the company.

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