Assignment of Marketing Management
Review the Customer-Centric organization model advocated by Booz.Allen.Hamilton. What do you think are the major aspects of this model and what do you see are the barriers in making this work in a business organization?
Customer loyalty of organizations is fading nowadays. This is because many of the organizations didn’t provide good customer service and they only focus on how much profit they gain. Every consumers hope to be respected while they are buying some products or services. Customer experience is playing important role and this is why Customer-Centric become more and more important nowadays. Customer Life-Cycle View
Booz Allen Hamilton recommended six building blocks of customer centricity. The first block is “Customer Life-Cycle View”. Basically, Customer Life-Cycle View is very important for enterprises especially when they’re doing some marketing plans.
According to Booz Allen Halmiton, some of the companies will developed a holistic and continuous view of each customer’s evolving life-cycle needs as he or she moves through marriage, home ownership, parenthood, and other transforming life experiences.
Due to this statement, enterprises can base on the different characteristics of customer life cycle to set their marketing strategy in terms of providing personalized service or strategic campaigns for targeted customer to gain more customer value in order to enhance the competitiveness of enterprises.
Anyway, to develop Customer Life-Cycle View, a company has to maintain ongoing relationships with customer. This block will be much more difficult to develop without the support from CRM system and there are lots of factors will affect the process in real world. Such as, lack of budget. A company can’t even build up their CRM system without budget. There will be no customer centricity if Customer Life-Cycle view is absent. These are the barriers in making this work in a business organization.
The second block is “Solution Mindset”. Basically, Booz Allen Halmiton requires the companies change their focus from products to services which providing customers with solutions rather than selling the product only.
CEO or CMO should put this in consideration because there are many same products and services available in market. Therefore, a company should combine their product and service together in their marketing campaign.
For example, Acer has joined a campaign and came out a promotion that when people buy Acer devices at PC fair, the sales staff will offer some software packages and warranty service along with specific products. This definitely wills help to build up the awareness of the company.
At the same time, a company usually has one problem, which a company always has many products and services, and the competitors have similar products and services as well. This means that, a company cannot prevent others to copy their ideas in terms of combination between products and services.
For example, we assume that Maxis has spent a lot of budget in marketing research and finally come out promotions that “get your free smartphone with our nice package”. Celcom can do a same thing in next day without any cost of research as long as it works.
This block refers to the exchange of information before and during a transaction. Nowadays, customer will choose to surf the webs before they visit the store in order to make a comparison and it makes advice bundling become more and more important.
Booz Allen Hamilton takes financial institutions (CityBank’s Citipro) as typical examples for this concept. Anyway, educational institutions, IT industry and many others business could be apply in this concept as well since almost all the customers always wanted to make a best decisions for them. Therefore, advice bundling must put in consideration when the marketers...
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