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Customer Centricity—A Marketing Perspective

In: Competitive Advantage of Customer Centricity

Author

Listed:
  • Sathit Parniangtong

    (CMBT Strategy and Management Consulting)

Abstract

Marketing is viewed as an investment that produces an improvement in the drivers of customer equity. The day-to-day challenge facing managers is to ensure that their marketing spend produces reasonable returns. In my view, the field still lacks comprehensive models to link marketing spending and customer action. A number of customer-management authorities have developed customer life-cycle planning with conceptual notions of customer journey. Prospecting first-time customers for an initial purchase is the first step of the journey. The next rung is making sure that first-time customers become satisfied customers, proceeding on to build a relationship with satisfied customers to increase the chances of them making repeat purchases, spreading the word about the company, and staying with the company over the lifetime of the relationship (see Fig. 6.1). This means a firm must first think of customer management as an end-to-end process that begins with improving customer perceptions of the company that, in turn, induces customers to take a journey with the company which will eventually see the relationship terminated for one reason or another.

Suggested Citation

  • Sathit Parniangtong, 2017. "Customer Centricity—A Marketing Perspective," Management for Professionals, in: Competitive Advantage of Customer Centricity, chapter 6, pages 161-182, Springer.
    • Handle: RePEc:spr:mgmchp:978-981-10-4442-7_6
    DOI: 10.1007/978-981-10-4442-7_6
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