What is customer centricity?
Customer centricity is a strategy that aligns a company’s development/delivery of its products/services around the current and future needs of a select set of customers in order to maximize their long-term financial value to the firm.
Customer centricity requires the company to be willing and able to change its organizational design, performance metrics, and employee/distributor incentive structures to focus on this long-run value creation/delivery process
Living in a customer-centric world
The goal of the firm is to maximize shareholder value
Celebrate customer heterogeneity: distinguish the profitable customers from the less profitable ones
Focus on future profitability (customer lifetime value) rather than past profits
Success arises through enhanced (and/or more efficient) customer acquisition, retention, and development
Customer-centric organizational structure
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