Customer Centricity

7 or 8

Passives

9 or 10

Promoters

Customer Relationship Management (CRM)

- a model for managing a company's interactions with its current and future customers; the use of technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.

Touch point

- any point at which a customer and the company come into contact

Net Promoter Score (NPS)

- categorizes customers into 1 of 3 groups: 1. Promoters 2. Passives 3. Detractors

Capability

- ensuring that enough people in the organization have the skills to deliver customer-focused solutions, as well as defining a clear path for employees with those skills.

Coordination

- entails establishing structural mechanisms and processes that allow employees to improve their focus on the customer by harmonizing information and activities across units.

Connection

- involves developing relationships with external partners to make increasing the value of solutions more cost effective.

Cooperation

- means encouraging people in all parts of the company -- through cultural means, incentives, and the allocation of power -- to work together in the interest of customer needs.

Selective Relationship Management (SRM)

- target fewer, but more lucrative customers.

Marketing mix

- the components of an effective marketing strategy, typically involving product, price, place, and promotion (the 4ps).

4 sets of activities to achieve a truly customer-centric culture:

1. Coordination 2. Cooperation 3. Capability 4. Connection

Customer centricity fits 3 ways into an organization:

1. Understanding the customer 2. Building a customer centric culture 3. Serving the customer

0-6

Detractors