A discussion of customer centric as opposed to product-centric business approaches.
Comparison Essay # 96650 |
3,337 words (
approx. 13.3 pages ) |
14 sources |
APA | 2007
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$ 57.95
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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.
Outline:
Resistance to CCS/CRM
Customer Relationship Management
CRM Origins
CRM Technology
Summary
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."
Tags:business, customer, centric, product, centric
This paper discusses the customer-centric business design. using the Coca Cola Company as an example.
Essay # 58837 |
1,050 words (
approx. 4.2 pages ) |
6 sources |
APA | 0
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$ 22.95
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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."
Tags:selection, value, control, pull-push, optimization
A study of customer-centric business structures and their response to the marketplace.
Essay # 22746 |
765 words (
approx. 3.1 pages ) |
3 sources |
2002
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$ 16.95
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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. "
Tags:interactive, marketing, e-commerce
A discussion of the importance of making a business customer-centric.
Essay # 48924 |
1,541 words (
approx. 6.2 pages ) |
3 sources |
MLA | 2004
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$ 30.95
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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."
Tags:e-business, internet, vendor, market, economy
A review of selected literature on the topic of customer centricity and customer retention.
Research Paper # 114521 |
6,303 words (
approx. 25.2 pages ) |
10 sources |
APA | 2009
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$ 88.95
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Abstract
Based on ten books written on the subjects of consumer behavior and customer service, this paper sets out to show whether customer centricity 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
A look at how Delta Airlines became a well run efficient carrier by concentrating on customer satisfaction and customer retention.
Case Study # 144819 |
825 words (
approx. 3.3 pages ) |
7 sources |
APA | 2010
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$ 17.95
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Abstract
This paper attempts to explain how Delta Airlines has made a successful transition from being another American-based carrier focused purely on efficiency to one concentrating on customer satisfaction and customer retention. The paper looks at how Delta Airlines has accomplished this through a combination of process-based, technologically-based and strategy-based initiatives that has led to their achieving customer centricity in their organizations. Suggestions are provided for how Delta Airlines can become more customer-centric and the paper also explains how lasting change can be made within Delta's ongoing marketing strategies through strong leadership.
Outline:
Introduction
Assessing Delta Airlines Customer Centricity
Change for Greater Customer Centricity at Delta Airlines
Driving Change and Leadership in Customer Centricity
From the Paper
"Of all domestic air carriers in the U.S., Delta Airlines continues to lead competitors in the areas of integrating Web-based and mobile technologies to give its customers an opportunity to interact with the company how they choose to. Delta's use of mobile-based check-ins, increasing reliance on their website for processing upgrades, seating assignments and managing special dietary needs illustrate how the company is successfully using Web-based, mobile-based and social networking applications to be more customer centric than competitors. The collection of technologies known as Web 2.0 are forming the foundation of social networking applications that seek to create more collaborative relationships with customers (Bernoff, Li, 2008). Appendix A of this document provides an overview of social networking applications."
Tags:satisfaction, retention, air, carriers
Examines extensively customer-centricity and customer and employee satisfaction in organizational structures and processes.
Dissertation or Thesis # 105384 |
11,520 words (
approx. 46.1 pages ) |
51 sources |
MLA | 2008
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$ 135.95
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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
A discussion regarding the value of consumer centric business focus.
Essay # 86438 |
675 words (
approx. 2.7 pages ) |
3 sources |
2005
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$ 14.95
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Abstract
This paper discusses how corporations can develop a customer centric 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."
Tags:marketing, loyalty, customer
This paper discusses the commitment to customer service at Delta airlines.
Case Study # 145407 |
1,134 words (
approx. 4.5 pages ) |
10 sources |
APA | 2010
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$ 23.95
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Abstract
In this article, the writer first notes that the airline industry in general has suffered a lack of customer service over the last decade due to exceptional economic and environmental forces impacting their ability to perform profitably. The writer points out that Delta's initial strategies of concentrating on cost efficiencies over customer centricity have cost them in customer satisfaction ratings over the last ten years. The writer discusses that instead of becoming as utilitarian in service attitude as many of their competitors however, Delta made the decision in 2006 to concentrate on how to become one of the leaders in airline customer service and earn the trust of customers as a result. Delta's commitment to customer service today often includes the integration of new yet proven technologies to enhance the experiences customers have with them. Due to these factors it is clear customer centricity is inherent in their marketing plans.
Outline:
Introduction
Review of Current State of Customer-Centric Orientation of Delta
Delta Customer Service and Customer Centricity
Identification of Problems or Areas for Improvement
Recommendations to Make Delta More Customer-Centric
Conclusion
From the Paper
"Instead of becoming as utilitarian in service attitude as many of their competitors however, Delta made the decision in 2006 to concentrate on how to become one of the leaders in airline customer service and earn the trust of customers as a result. Many airlines do not take into account customer service in their core marketing plans. American Airlines has slipped precipitously down in customer satisfaction polls, as has United Airlines. Delta Airlines initiated a re-branding strategy that included the development of entirely new approaches to listening to customers' needs, and integrating them quickly into their service strategies. As a result, Delta has risen in the J.D. Power & Associates rating of airline satisfaction to second place in the latest year's rankings. Delta scored above average on the factors of overall satisfaction, flight reservations & scheduling, check-in process, aircraft interior, boarding & deplaning including baggage handling, flight crew, in-flight services, and cost & fees."
Tags:satisfaction, passengers, needs, performance
This paper defines and examines the effectiveness of the CRM software system in business.
Essay # 67724 |
1,733 words (
approx. 6.9 pages ) |
14 sources |
MLA | 2006
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$ 33.95
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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."
Tags:business, software, service, customer, application, revenue