Customer Centricity Critical And Business Success

Customer-centricity is critical to business success. â€Å"The customer is always right â€Å"is a popular phrase denoting that business direction is determined by its consumers. It is a phrase with which many marketers are familiar, and one by which most successful companies are driven. But why is this seen as a golden key to business success? Lee Carter (2012) argue that the ultimate marketing goal is to fulfil consumer needs and wants in a manner which is better than that of the competition. Being consumer focused in today’s world has to be seen as a complete necessity in order to drive business. Some would say it is a â€Å"licence to practice† (Zairi, 2000). This paper will examine and critically discuss the key elements in understanding why the consumer is your most valuable asset, and why fulfilling their needs is paramount to business success. Fundamentally, with an absence of consumers, a business would not exist. Indeed, the heart of any business model, mission statement, or company goal should be to achieve consumer satisfaction. Therefore, the consumers inevitably become the main focus. Levitt’s (1960) view is that industries are consumer satisfying processes, and not goods producing processes. No matter the nature of the consumer, whether they be an internal (vertical) consumer down the value chain, or a traditional consumer who purchases from a consistent organization, these individuals determine the success of a business. Neglecting consumers at the outset, is likely toShow MoreRelatedMeditech - Case 11660 Words   |  7 PagesEMC2 Delivering Customer Centricity An Analysis Analysis: EMC2: Delivering Customer Centricity This paper is an analysis of the article EMC2: Delivering Customer Centricity; by Thomas Steenburgh and Jill Avery (2011), Harvard Business School. EMC Corporation has had a long and storied relationship with its approach to customer service. 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