History behind Customer Centric Approach
- Managerial Capitalism: began in 1932 – need to have professional management
- Shareholder value Capitalism: 1976 – need to maximize shareholders’ wealth (GE, Coca Cola)
- Customer-Driven Capitalism:
Reference: The Age of Customer Capitalism – Harvard Business Review
Outside in Vs Inside Out: Leaders need to adopt outside in approach as compared to inside out approach.
Also they need to think Beyond How do you like Product X
Inside Best Buy’s Customer-Centric Strategy – Harvard Business Review
The First Step in Exceeding your customer expectation is to know those EXPECTATION
After that four stages of customer integration need to be followed to achieve the results as received by Continental Airline
Excerpt of the session delivered to Senior Leadership team of a organization to imbibe the Customer-First approach.
Further with reference to Customer Mania by Ken Blanchard, a wow factor to be created for customer moving beyond just customer satisfaction.