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Description
Flashcards by Carlo Marmo, updated more than 1 year ago
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Created by Carlo Marmo
over 9 years ago
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| Question | Answer |
| Essential carateristics of traditional product-centric approach | 1. Reason for business: maximize shareholders value 2. How: through high sales volume and costo reductions 3. Performance measure: market share (more customers, mroe products, more sales) 4. Product-oriented organizational structure --------------------------------------- IT'S ALL ABOUT PRODUCT EXPERTISE |
| Cracks in product-centricity | 1. commoditization 2. smart customers 3. retail saturation 4. globalization 5. deregulation 6. need for "end-to-end" solutions 7. IT customer-level tracking |
| Cheers for direct marketing | 1. customer is the unit of analysis 2. knowledge of customers and their buying habits 3. determining marketing strategies based on past purchases |
| What is customer centricity | a strategy that aligns a company's development/delivery of its products/services arounde the current and future needs of a select set of customers in order to maximize their long-term financial value to the firm |
| Essential carateristics of traditional customers-centric approach | 1. Purpose: maximizing shareholders value 2. How: celebrating customers heterogeneity 3.Focus on customer present and future (life time) value 4. Performance measure: customer acquisition, retention and development 5. Customer-centric organizational design ---------------------------- IT'S ALL ABOUT RELATIONSHIP EXPERTISE |
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