The changing face of customer centricity

Abstract

This chapter assesses the impact of macro environmental factors, including deregulation, increased competition, technological changes and changing consumer needs on the evolving nature of customer centricity and the need for firms to embrace it. Developed through a review of literature and study of industry examples and trends, this chapter traces how business focus has shifted from production to customer, and identifies ways in which businesses can enhance customer centricity by leveraging new technologies. Customer centricity is fast emerging as a norm across industries, and firms are adopting customer centricity to enhance competitiveness. This chapter lays a strong emphasis on embracing customer centricity, based on fundamental reasons as well as industry examples.