Customer Centricity - Literature Review
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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)."
Sample of Sources Used:
- Achrol, R. & Stern, L. W. (1988). Environmental Determinants of Decision Making Uncertainty in Marketing Channels. Journal of Marketing Research, 25: 36-50.
- Assael, H. (1987). Consumer Behavior and Marketing Action. Third Edition, Boston, MA: PWS-Kent.
- Bitran, G., and Hoech, J. (1990). The Humanization of Service: Respect at the Moment of Truth. Sloan Management Review, 31(4), 89-96.
- Boyan, l. and Enright, R. (1992). High Performance Sales Training. New York: AMACOM Division of American Management Association.
- Heskett, J., Sasser, W., and Hart, C. (1990). Service Breakthroughs: Changing the Rules of the Game. New York: The Free Press, A Division of MacMillan, Inc.
Cite this Research Paper:
Customer Centricity - Literature Review (2009, June 11) Retrieved July 09, 2020, from https://www.academon.com/research-paper/customer-centricity-literature-review-114521/
"Customer Centricity - Literature Review" 11 June 2009. Web. 09 July. 2020. <https://www.academon.com/research-paper/customer-centricity-literature-review-114521/>