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:
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:
- as part of a knowledge management system (understanding the customer);
- as part of developing strategic competence as a learning organization (building a customer-centric culture); and
- as a foundation for corporate strategy development and execution (serving the customer).
Following your review, prepare responses to the following discussion questions:
- According to research, what are some of the key customer-centric characteristics of successful companies?
- What are some of the ways that technology has shifted power from companies to consumers?
- In discussing Net Promoter Score (NPS), why does Reicheld suggest doing surveys frequently rather than annually or just a few times a year?
- Provide a min. of 500 words of reply.
- Must list all references and cite your source(s) within the body of the initial post.
- 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.
- 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)