Customer Centricity

By Akash Amal

With out businessCannot succeed

The term customer centric has become synonymous worldwide with proactive business strategy

Customer centricity fits three ways into an organization

As part of a knowledge management system (understanding the customer),

As part of the development of strategic competence as a learning organization (building a

customer-centric culture)

And as a foundation for corporate strategy development and

execution (serving the customer)

Understanding customers

people don’t want to buy quarter inch drill, the want a quarter inch hole!

Customer Perceived Value

Value= benefits – cost

(B-C)a > (B-C)b

Value a > value b

Assessing customer needs and values

• Creating demand landscape

• Touch points

Touch points• Products, services, brands & interests in time and space with

customers occasions to live, play and work as defined as matrix of goals, activities and priorities that constitute the leading features of land scape

• Eg :- At car rental company

Process of collection & using detailed information abut individuals at all touch points

Building customer centric culture

Market is not something which you do the customers,

Rather how customers influence your organization

Incident at The TAJ Mumbai.

• Incident of 2008, gained most customer value, with the life-death service of Taj employees

• As many as 11 Taj employees, a third of the hotel’s casualties laid down their lives while helping between 1,200 and 1,500 guests escape

• Created extreme customer centric culture.

• 18 months training program (6 months more then general training programs)

Singapore Airlines

• Survey

• Trained pilots out of the box

• Extra training with better efficiency and staffing

• 2012, ranked 3rd in customer satisfaction.

4 sets of active customer centric culture

1. Coordination

2. Cooperation

3. Capability

4. Connection

Hewlett Packard • 1999, failed to meet the financial targets,

• Co. introduced new C.E.O

• 2002, merged with compac

• 2004, key components of transition

a) putting customer first

b) voice of customer (web based data)

• March 2013, recognized for its customer value, sharing top postionwith apple.

Serving the customers

Developing a customer centric strategy

a) Make brand decisions subservient to decisions about customer relationship.

b) Build brands around customer segments, not the other way around.

c) Make brands as narrow as possible.

d)Plan brand extension based on customer needs, not on component similarities.

e)Take heroic measures.

Conclusion

• Thoughtful gathered market information can lead organization to take concrete action against customer centricity

Retro marketing : opposite of customer centric marketing