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Customer-Centric Thinking

In: Competitive Advantage of Customer Centricity

Author

Listed:
  • Sathit Parniangtong

    (CMBT Strategy and Management Consulting)

Abstract

As this new century unfolds, creating a sustainable competitive advantage will become an increasingly tough proposition for today’s businesses. Whatever advantage a firm has, others will find ways to nullify it or take it away. No matter what strategy you use to make your business stand out, your competitors can always find ways to move closer. Differentiating your products—be it Intel’s chip technology, Wal-Mart’s new store formats, or Starbucks’ offering of a premium cup of coffee in an inviting environment—is often not enough as imitators can quickly match these innovations. The same goes for inventing new markets, as companies have to honestly ask if there is any market that their competitors cannot and will not move to in the pursuit of profit. So, all of these leading companies, each dominating its field, are facing new challenges to maintain their positions ahead of the pack while growing profitably.

Suggested Citation

  • Sathit Parniangtong, 2017. "Customer-Centric Thinking," Management for Professionals, in: Competitive Advantage of Customer Centricity, chapter 4, pages 89-111, Springer.
    • Handle: RePEc:spr:mgmchp:978-981-10-4442-7_4
    DOI: 10.1007/978-981-10-4442-7_4
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