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The Case for Customer Intimacy

In: Business and Management

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THE CASE FOR CUSTOMER INTIMACY
TRANSFORMING RETAIL FINANCIAL SERVICES FIRMS

Nowadays, customers grow ever more demanding and suppliers must change their strategy to keep their customers loyalty with their products. There are many factors that cause the success or failure of the organization. Organization that always sensitive about their customer intimacy wills always success as they know what their customer wants. A part from that, an organization might be fail because of failure in reading the market right, not investing in update equipment, providing poor customer service and low quality of services and products. Customer intimacy entails precisely segmenting and targeting markets, acquiring detailed customer knowledge, developing an operational flexibility that allows for immediate response to customer need, and securing tremendous customer loyalty. The value added component of this strategy knows the customer so well that what he needs is immediately provided. In order to achieve this strategy, a very responsive customer service department and very active marketing and sales research are needed. Customer information is continually solicited, sorted, ordered, and immediately distributed throughout the company so that it can be acted upon immediately. The retail financial service has 3 discipline of market leader. In order to achieve customer intimacy, the organization has to take into consideration 2 other aspects which are products leadership and operational excellence. These aspects are related to each other. To attain customer intimacy, the organization needs to surpass several elements. First, the organization should shift focus and power from product lines to customer relationships. Based on this strategy, the customer need is the main priority in organization despite of just marketing. To achieve this, the organization needs to have full knowledge...

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