Abstract This paper examines the success of companies that shift from being product-centric to customer-centric. In companies that have a customer-as-king philosophy growth has been remarkable since adopting that outlook. Companies that focus on creating great products lag behind in the marketplace. 3M is used as an example of a company that changed its direction to customer-centric. The paper cites several articles that confirm this phenomenon. The paper concludes that companies that grasp the notion that business should be built around customers, not products, are setting themselves up for success.
From the Paper "Beyond that problem, the basic problem with 3M's Web site was that it was concentrating all its "internal silos" rather than on "its customer's needs." So, 3M got synchronized, and now presents a more "unified fact to its customers" by storing all "customer relationships and product configurations" in a single database. This transformation from the awkward presentation of products and slipshod system of customer record keeping - similar to what Thompson Financial did - is called moving from a product-centric company to a customer-centric company. Instead of finding "customers for its products," both these firms (and untold hundreds of other companies) now concentrate on finding "products for its customers," Sawhney writes."
Abstract Based on ten books written on the subjects of consumer behavior and customer service, this paper sets out to show whether customercentricity has been the focus of businesses for some time, and whether it has been addressed correctly. The writer explains that the study of customer retention information shows that what it takes to keep customers coming back is quite different from what it takes to attract new ones, and discusses various types of customer loyalty programs. From the literature four specific areas that need to be examined in order to help businesses improve customer focus are identified, as well as six factors that are often seen as imperative in improving customer retention, and five specific dimensions of service quality. The paper concludes that although most studies have indicated that retaining old customers is what really boosts business growth, many businesses still persist in spending more to get new customers who will cost them money by leaving, instead of spending less to retain loyal ones.
From the Paper "It is significant to remember when looking at customer centricity that people seldom stop patronizing a business simply because of ordinary interactions that they deal with when they shop there but instead because of the failure of the specific organization to handle situations that could be potentially problematic to the satisfaction of the customer (Bowen & Lawler, 1992). Personnel who come into contact with customers need to be able to think for themselves, take responsibility for their actions, and respond well to the pressure that often comes from customers who are angry or upset (Bowen & Lawler, 1992)."
Tags: success, customer satisfaction, effective personnel, problem solving, performance coaching communication
Abstract This paper explains that Coca Cola Company, which revolves its business around the customer's needs, wants. and demands, is structured on the framework of a "Customer-Centric" business design, composed of four strategic elements: customer selection, value capture, strategic control and scope. The author explains that the customer-centric model is a "pull-model", which embeds product innovation, manages demand proactively, and utilizes stochastic optimization methods to deal with variability. The paper concludes that the challenge facing companies today is the demand for redesign every five to seven years to achieve sustainable profit and shareholder value growth.
Table of Contents
Introduction
The Business Environment in Today's World
The Original Business Design of Coca Cola
Revamping of Business Design
Value Proposition and Core Competencies the Difference
Customer Satisfaction - Customer Loyalty
Summary and Conclusion
From the Paper "A customer may be satisfied without necessarily holding loyalty toward the product of a company. For example, when someone enters a store to purchase a soft drink and that individual prefers Coca Cola to Pepsi but the store is out of the Coca-Cola product the individual who then purchases a Pepsi instead of going to another store to procure a Coca Cola product is satisfied with the Coca Cola product but not loyal in purchasing habits. The loyal customer will go to another store to procure the desired and loyally chosen Coca Cola product. The loyal customer is the higher valued customer by the company."
Abstract This paper examines the business method of customer-centric marketing. It looks at the revolutionary business possibilities of e-commerce and the Internet, where customers and businesses are no longer bound to their physical location. The paper describes how the customer driven market place responds to consumers needs quickly, and that these business are empowered through the technology of interactive marketing and its seamless gathering of valuable user information.
From the Paper "The customer-centric business model is a necessary hybrid delivery system of good and services in today's business environment. With the advent of the Internet, and e-business, customers are no longer limited by traditional geographic parameters for their purchase choices. Other factors which established boundaries to the consumer's choices, such as limited knowledge of purchase options, and time constraints, or the inability to travel, and research options before making a purchase choice have been dissolved. Today's consumer is driving the marketplace in much more powerful ways, since he or she can sit at a desktop computer, and become aware of the options, prices, and product selection in minutes. "
Abstract This paper discusses how the customer-centric business model is a necessary hybrid delivery system of goods and services in today's business environment. It shows how, with the advent of the Internet and e-business, customers are no longer limited by traditional geographic parameters for their purchase choices. It also shows how other factors that have established boundaries to the consumer's choices, such as limited knowledge of purchase options, time constraints, the inability to travel and research options before making a purchase choice, have since been dissolved.
From the Paper "In a market economy, business managers are concerned with making a profit, but the guiding principle of business economics is not the maximization of profits by minimizing costs, it is the avoidance of loss, argued Peter Drucker, management guru and economist. "It is the first duty of a business to survive. This is not to say that profits are unimportant." An enterprise must make enough to cover future risks and to enable it to stay in business. Many firms miss this point. In cutting costs to maximize profits, they liquidate assets and under-invest in innovation Drucker suggests there is only one valid definition of business purpose: to create a customer. "It is the customer who determines what a business is. What the customer thinks he is buying, what he considers ?value,? is decisive."
Abstract This paper explains that customer-centricity as a concept is applicable to virtually every area of the business paradigm. The paper also points out that customer satisfaction, as determined by many quantitative and qualitative factors, is the primary measure of the successful customer-centric organization.The paper further emphasizes that customer satisfaction and employee satisfaction can be seen as two sides of the same process. The paper then looks at ways that various companies utilize a consumer-centric approach that encourages the testing of new or amended policies in real-world situations.
Table of Contents:
Introduction
Customer Satisfaction and Total Quality Management
Customer Relations: Caring for the Customer as a Unique Individual
Marketing Programs
Sales Automation
Support/Services Automations Software
Employee Satisfaction
Working Environment and the Happy Employee
Good Customer Service and Treating Employees Fairly
Human Resources Management
Business Intelligence
Conclusion
From the Paper "As computer manufacturers, Acer, and companies like it, would probably appreciate the electronic help that has become available in recent years within the field of customer relations. In today's business world, customer-centric organizations may take advantage of applications that are specially designed to handle the overall problems of customer relations. Customer Relationship Management, or CRM, software consists of programs designed to serve the needs of a company's customers - wherever those customers might be found."
Tags: policies, social identity theory, behavioral decision theory, improvements, best buy
Abstract This paper discusses how corporations can develop a customercentric business design to improve brand recognition and customer loyalty. This paper analyzes various concepts including value networks, value chains, customer value, and value proposition.
From the Paper "The contemporary marketplace is ultra competitive, thus perpetuating the necessity for increased growth and profitability in order to turn existing customers into "apostles" (Alessandra, 2003, para. 3). According to Alessandra (2003), creating apostles is imperative to increased customer satisfaction (para. 3). Word of mouth is free and companies should take advantage of this dynamic by developing a relationship with clientele and implementing a strategic "apostle-driven" focus. Jones and Sasser discuss and recognize how crucial it is for companies to attract and maintain the right customers or target group. Companies that focus growth strategies on increased sales and market share are neglecting to acknowledge how important customer satisfaction is to profit maximization."
Abstract The writer of this paper defines CRM as customer relationship management, which is an information industry phrase for methodologies, software and internet facilities that assist an enterprise in handling customer relationships in a structured way. This paper details the uses and effectiveness of the CRM enterprise software system, which when installed correctly aids large companies in all areas concerning customer service. CRM is a business tactic centered on the idea of being customer-centric. This paper examines the main aim of CRM which is to achieve maximum revenue through better customer fulfillment while at the same time enhancing connections at each customer touch point. This paper also discusses the various types of CRM programs as well as their relevant components.
Table of Contents:
Executive Summary
Introduction
Definition of CRM
Component of CRM
Types of CRM
Benefit and Issues of CRM
Conclusion
References
From the Paper "The Contact Center is a vital constituent of an efficient CRM strategy as primary sales, service and retention level for many companies. (Definitions of CRM on the Web) A significant move in applying a CRM solution is to assess all of the procedures within a company. During this assessment, a company will understand that documents play a major role in some of those processes. A quick glance at the financial department of any company will confirm the previous statement to be true. When a company identifies critical documents, it has to work out how its new CRM system will manage them. It's at this instant that the company will recognize the significance of incorporating a document management solution with its selected CRM system."
Abstract The writer relates that he is attracted to Apple's less-formal, more results-driven approach. The paper describes Apple's organizational culture and discusses the needs and value of their customer base. The paper also suggests customer service standards to make Apple more customer-centric.
From the Paper "The company I have chosen to examine is Apple Computers. Apple characterizes its organizational culture as "fun, yet demanding. " Apple was one of the pioneers of the "work hard, play hard" ethic now commonplace in the computer industry today. This ethic appeals to me because it fits with how I approach work life. I, too, take a results-driven approach that devalues formality in place of superior performance. Too many industries still rely on formality and hierarchy. While that may suit other people, I view Apple's less-formal, more results-driven approach as in line with the approach I feel works best for me."
Tags: corporate, philosophy, customer, service, feedback, technical, help
This paper discusses three articles that illustrate the use of mass customization in today's business world. The articles are then critiqued, and a conclusion/summary is offered.
Abstract Mass customization has emerged as a solution to address the new market requirements by producing goods and services to match individual customer's needs, while still enabling firms to capture the efficiency advantages of mass production. This means that individualized or personalized goods can be provided without the high cost surpluses and, thus, price premiums, usually associated with customization. To deliver mass customization, firms must find new ways to interact with their customers during the process of co-designing and configuring a customer-specific solution. This paper examines articles that deal with the ways in which several companies are meeting these demands without compromising the bottom line or customer service.
From the Paper "Henry Ford, in reference to the Model T, once said you can have it in ?any color so long as it's black.? It was many years later before car buyers were able to completely customize vehicles according to their preferences. Even though Henry Ford may have been shortsighted in this aspect by today's standards, the complete lack of customization available on a Model T did make good business sense at the time. For example, he never had to worry about running out of a popular color of paint and delaying production until more could be acquired. But those days are long gone and today's customers are becoming more demanding than ever."
Abstract This paper discusses customer loyalty, using the company Comcast Corporation as a case study. The paper begins with an assessment of the roots of customer loyalty, which it maintains are in staff loyalty. Next the paper examines how customer loyalty is developed. Then the paper asks how customer loyalty is incorporated into marketing strategy. Finally, the paper studies the affect of customer loyalty on Comcast's customer retention.
From the Paper "Winning customer loyalty begins with winning staff loyalty. Companies that try to win customer loyalty without first winning staff loyalty often find that in spite of great customer loyalty programs and initiatives their results fall far short."
Abstract The history of restaurant business reveals that policy making for customer service has been a painless effort, but attaining employee acceptance to the same for making it operational is the more challenging area. This impracticability of customer services? policies in restaurant management has led most strategies to failure from their initiation. This paper primarily describes the concept of customer service in restaurant management. Thereafter, it shows how the improvement of customer services in restaurant management depends upon the management's and the employee's approach towards each other, the establishment and the services. It also provides research findings on the subject and recommendations that can help improve customer service in restaurant management.
From the Paper "The Industrial Era's school of thought was established on the notion that employees were not at all bothered to provide quality service since they abhorred working. They were given directives like any automated machine is directed a set of instructions. With the exception of employee collapses that included wounds or ailment, tasks were reluctantly accomplished.
In most cases, restaurant managements decline to the ideology of the US Industrial Era wherein employees were regarded as a constituent of manufacture process, no different than any mechanized paraphernalia. Intentionally or unintentionally, they disregard the fact that implementation of all programs, policies and strategies though ultimately affect customer satisfaction, but revolve around the internal public of the restaurant organization."
Abstract The writer of this paper stresses the importance of reliable and effective customer service which is crucial in retaining satisfied customers and clients in business. This paper examines the blatant limitations in most customer service departments. This paper explores the concept of implementing technology into existing customer service departments while detailing the resulting impact in a particular business.
From the Paper "Good customer service is predicated upon the service desk's ability to provide service. This paper explores the concept of technology as a critical component of that ability. The kind of service that a service desk can provide is limited by its technology not just by its personnel. In this paper the experience of Consonus, a company that has used technology to ramp up its customer service capabilities is examined."
Abstract This paper discusses customer-driven quality in a manufacturing environment and how it stands with reference to other types of organizations, such as government, non-profit, and service. The value of quality in relationship to customer satisfaction and the importance of participatory management are explained.
From the Paper "The modern manufacturing environment has been responsible for a dramatic loss in product quality in recent years with a concomitant loss of customer satisfaction. Products are not made as well do not last as long and do not have ..."
Tags:customer-driven quality, manufacturing, customer satisfaction, customer service
Abstract This paper examines customer satisfaction at a hypothetical XYZ Company. It examines the issue of customer satisfaction and recommends upgrading the phone and Web site and doing away with voice mail to improve customer service levels.
From the Paper "XYZ Company recognizes that customer satisfaction is key to their long-term success. They monitor customer satisfaction and are interested in finding ways to improve that satisfaction ..."
