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Building a customer-oriented company

The globalization of markets and the information revolution, the liberalization of the global economy, the development of mobile technologies and information networks have provided manufacturers with cheap personalized channels of communication with consumers. At the same time, consumers have the opportunity to access almost any information at any time convenient for them. In many industries, conditions have emerged that are close to the ideal competition model. The margin per customer has decreased and customer loyalty has become more significant. Increased competition led to lower product prices, higher costs to attract customers and, as a result, a sharp decrease in customer profitability. The main opportunity to maintain business profitability for many companies was to increase the intensity of consumption of its products by each of the customers, which led to the need to maintain long-term relationships with them. To reduce the cost of attracting customers, it has become profitable for organizations to use established customers as “promoters” to reduce the time they take to market and promote products in a targeted environment. Partnership of companies with customers has become the basis for successful development for many organizations. Possessing a developed methodological apparatus for working with the mass market, marketing has shown a low efficiency of its application on individual clients. The reengineering of business processes, which began in the 1980s, pursued a reduction in production costs and was oriented mainly toward intraorganizational changes. And new economic conditions have led to the need to improve external processes aimed at customers. As a result, there was a need to develop customer retention technology, taking into account their value for the company. To learn about this topic and not only you can here - https://en.wikipedia.org/wiki/Customerization



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