Rethinking Marketing

I’m stuck on a Business question and need an explanation.

From the HBR Coursepack provided along with the question, review the following core marketing reading:

Customer Centricity

Without customers, businesses could not succeed. The term “customer centric” has, therefore, become synonymous with proactive business strategy worldwide. Primarily due to advances in technology, we are experiencing a fundamental shift in marketing – from a previous focus on companies to a spotlight on consumers. This gives customers a much stronger voice in both the business-to-business (B2B) and business-to-consumer (B2C) markets.

This core reading discusses how customer centricity fits into an organization in three ways:

  1. as part of a knowledge management system (understanding the customer);
  2. as part of developing strategic competence as a learning organization (building a customer-centric culture); and
  3. as a foundation for corporate strategy development and execution (serving the customer).

Following your review, prepare responses to the following discussion questions:

  1. According to research, what are some of the key customer-centric characteristics of successful companies?
  2. What are some of the ways that technology has shifted power from companies to consumers?
  3. In discussing Net Promoter Score (NPS), why does Reicheld suggest doing surveys frequently rather than annually or just a few times a year?

Note:

  1. Provide a min. of 500 words of reply.
  2. Must list all references and cite your source(s) within the body of the initial post.
  3. Every sentence with material from an outside source must be cited. Just putting a citation at the end of a paragraph or the entire post is not accurate.
  4. Citations must contain the page number on which you located the information. Eg. For our textbook material from page 15 would appear as (Kloppenborg et al. 2019, p 15)

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