Customer Centricity The Right Thing - 1053 Words

Customer centricity, we all know it’s the right thing, but why do so many fail to achieve it Customer Centricity defined The fact that the customer should be the focus for any business is not something that I need to go over with you, but why is it that most organizations to this day cant seem to quite grasp that idea; is something worth discussing. The reason why this is so important today is that we have seen a shift in the balance of power, which is power going back to the customers. They now, with the advancement of technology, have access to more services and an ability to voice and express their opinions on a grander scale. If a customer’s experience is not flawless, there are 10 other companies waiting to swoop their business and your now lost customer will tell the world about the bad experience they had with your brand. â€Å"A customer-centric approach can add value to a company by enabling it to differentiate itself from competitors who do not offer the same experience† Customer centricity is about offering great customer service, but it also emphasizes the importance of a great experience throughout the customer journey from the acquisition, conversion and retention stage. It’s a strategy that’s based on putting your customer first, and at the core of your business. Not only does focusing on the customer make sound business sense, but also research by Deloitte and Touche has found that customer-centric companies were 60% more profitable compared to companiesShow MoreRelatedBest Buy Case Analysis Essay examples1450 Words   |  6 Pagesgrowth. Right now Best Buy’s market share in the U.S. and Canada reach almost 20%. Circuit City is one of Best Buy’s main competitors in this industry. Some things that Circuit City is doing that is gaining recognition is the ability for customers to write reviews of products on its website. Best Buy has not allowed this, and many people are asking why. Circuit City is also discussing the probability of putting kiosks in their stores for customers to review and see reviews of products right in theRead MoreCustomer Centricity at Emc1072 Words   |  5 PagesThis case introduces the concept of customer centricity and traces its development at EMC, the world s leading data storage hardware and informat ion management Software Company. EMC s customers had historically relied on EMC salespeople to guide them through the complex, consultative buying process. However, with the rise of social media, prospective customers are getting more of the information they require earlier in the purchase process online. As they do so, their physical interactions withRead MoreBestbuys Strategy1407 Words   |  6 Pagesquestions about keeping customers in his stores and how to develop and sustain a competitive advantage in today’s economy. According to the case, BestBuy is trying to create a competitive advantage in three areas: customer-centricity, employment policies, and exclusive branding. After studying the VRIO framework, I have found that BestBuy’s three areas of strategy do fit into the VRIO framework. BestBuy believes that an effective strategy is a commitment to customer-centricity. A business that implementsRead MoreBest Buy Case Study: Baldridge Award Criteria (Customer Focus)5183 Words   |  21 Pagesï » ¿ Best Buy Case Study: Baldridge Award Criteria (Customer Focus) By: Robert F. J. Gleadall, R.E.T. 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They operate over 940 retail stores across the United States and Canada. The first store in Mexico just opened up in 2009 and they are presently looking into Turkey in the near future. Best Buys current marketing goals and objectives is to serve the needs of unique customers. Best Buys four strategic initiative are customer centricity, efficient enterprise, win with service, and win inRead MoreFlow Chart and Total Quality Management2049 Words   |  9 Pages It is also important to understand quality from the customers’ perceptive due to the reason that, whatever the customer perceives the quality of a particular service or product to be is the quality of that service or product (Kehoe 1996). The level of fit between what customer’s expects and customer view of the product or service is known as quality. Quality characteristic for opening account in a Bank see appendix 1 Therefore, the customer should benefit from the value the bank has promised to