The most successful companies are those that focus on delivering exceptional customer value through one of three value disciplines, while being satisfied with simply meeting industry standards in the other two areas. These disciplines are: Operational excellence, Product leadership, and Customer intimacy. 1. Operational Excellence Companies attempt to find a combination of price, quality and ease of purchase that none of their competitors are capable of matching.
business model behind this value proposition focuses on achieving cost leadership. Business model behind this value proposition focuses on achieving cost leadership. Production is standardized and automated, if possible 2. product leadership Organizations which aim for product leadership constantly work hard to implement innovation and renewal. They want to constantly amaze their customers with the newest and best products. The success dependent on the speed at which they are able to innovate and produce new products.
And many of them are ready with the improved versions of their products even while launching the product. 3. Customer Intimacy A great deal of attention is focused on the development of the desired customer base: and hence products and services are continually adapted to customers’ wishes, without asking excessively high prices for doing so. They look at the Lifetime value of the customer base and not on the one time purchase. The business model for these organizations has been designed to be able to supply products and services from a broader perspective.
Customer loyalty is considered to be a powerful tool for most organizations in ensuring that they gain a competitive advantage in their respective industries ( Lam, Shankar, Erramilli, & Bvsan, 2004, p. 294). Customer loyalty is necessary for ensuring that organizations remain profitable while also achieving growth through reaching out to new market grounds. The importance of customer loyalty ...
A thorough knowledge of the customer as a person, user and buyer is essential in such consumer markets.Telecom industry in India has a big market potentiality and is a fast growing sector. Government of India is eager to reconstitute this telecom industry by enacting effective policies for more investments from foreign companies, which results in a very competitive and deregulated market in the world. Major players in telecommunication industry in India