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From Product-Centric to Customer-Centric Management

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市场营销概论

宾夕法尼亚大学

4.7（6,689 个评分） | 170K 名学生已注册

课程 1（共 6 门，商务基础专项课程）

Taught by three of Wharton's top faculty in the marketing department, consistently ranked as the #1 marketing department in the world, this course covers three core topics in customer loyalty: branding, customer centricity, and practical, go-to-market strategies. You’ll learn key principles in - Branding: brand equity is one of the key elements of keeping customers in a dynamic world in which new startups are emerging constantly. - Customer centricity: not synonymous with customer service, customer centricity starts with customer focus and need-gathering. - Go-to-market strategies: understand the drivers that influence customers and see how these are implemented prior to making an investment. Complete this course as part of Wharton's Business Foundations Specialization, and you'll have the opportunity to take the Capstone Project and prepare a strategic analysis and proposed solution to a real business challenge from Wharton-governed companies like Shazam and SnapDeal or to a challenge faced by your own company or organization. Wharton-trained staff will evaluate the top submissions, and leadership teams at Shazam and SnapDeal will review the highest scoring projects prepared for their companies.

查看授课大纲

您将学习的技能

Positioning (Marketing), Marketing, Marketing Strategy, Customer Satisfaction

审阅

4.7（6,689 个评分）

5 stars
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AT

Jun 09, 2017

This course enhanced my perspective, I took it parallel to my ongoing courese, the cases discussed in this module helped me to analyse the application of various marketing concepts. Thanks a lot...!

AK

Jul 18, 2016

Profoundly insightful about the Marketing process. I developed a deep respect for the esteemed panel of Professors and their simple approach to explaining and applying complex Marketing concepts.

从本节课中

CUSTOMER CENTRICITY: The Limits of Product-Centric Thinking & The Opportunities and Challenges of Customer Centricity

Module 2 of our class features Professor Peter Fader, who will focus on concepts related to Customer Centricity. In an economy that is increasingly responsive to customer behaviors, it is imperative to focus on the right customers for strategic advantages. The coming weeks will provide the foundation needed to build a customer centric outlook. If you want to read more about Professor Fader’s views on customer centricity, feel free to follow him on Twitter (@faderp). He regularly shares relevant perspectives and readings there.

From Product-Centric to Customer-Centric Management15:25

Cracks in the Product-Centric Approach9:49

Data-Driven Business Models4:26

Three Cheers for Direct Marketing3:51

Which Firms Are Customer Centric?12:11

What is Customer Centricity?11:28

Living in a Customer-Centric World14:48

More Reflections on Customer Centricity3:21

Questions on Customer Centricity6:00

教学方

Barbara E. Kahn
Professor of Marketing and Director, Jay H. Baker Retailing Center
Peter Fader
Professor of Marketing and Co-Director of the Wharton Customer Analytics Initiative
David Bell
Xinmei Zhang and Yongge Dai Professor, Professor of Marketing

脚本

[MUSIC]

Hi, I'm Pete Fader, I'm the Pei-Yuan Chia Professor of Marketing

at the Wharton School and co-director of the Wharton Customer Analytics Initiative.

I'm really excited to be starting my

module of our introduction to marketing course.

But the fact that I run a research center called, The

Customer Analytics Initiative suggests that I'm a data guy, and that's true.

I love looking at data about customers, try to figure

out which customer is doing what and for how long and

for how much money, and what kind of tactics can

companies use to create and extract more value from the customer.

So for me, it's all about the customer

behavior, the, the patterns that we see over time

and the kinds of strategies that companies can build

around those patterns or to do better for themselves.

So I want to start by going back to one

of the frameworks that Barbara Kahn used in her modules.

You might recall this slide over here, where she laid

out the basic kinds of strategies that companies can follow.

And a couple of these strategies are really clear.

Everyone understands what performance superiority means.

It's, it's just having the very best product out there.

So whether you're an Apple, a BMW or a

luxury product like a Louis Vitton or a Gucci.

You want to have the best.

Operational excellence is also pretty clear.

you want the lowest price, you want the most

efficient operation or the most efficient experience for your customer.

So whether you’re talking about a Walmart or an IKEA or a Zara,

you are really interested in keeping the

cost low, keeping the process very efficient.

That gives us operational excellence.

But it's the third leg of this diagram

that we're going to spend a lot of time on.

This idea

of customer intimacy. The basic idea makes sense.

Let's focus on the customer.

But exactly what does that mean? Who is the customer?

Are we going to focus on all customers the same way?

Just how intimate do we want to get.

And how do we actually make more money on something

that actually adds costs than some of these other strategies.

So that's going to be the main focus of

our efforts, is taking this idea of customer intimacy.

Or, as I like to call it,

customer centricity and really understanding what it is.

Clarifying what it isn't, motivating why it's important, and trying to get firms to

make a well informed decision about whether

they want to pursue that kind of strategy.

And, whether when or how to actually go after it.

So that's going to be the focus of our work.

[NOISE]

I'm here on South street.

One of the popular shopping areas in Philadelphia.

And all around me would be stores that represent

the different kinds of, of strategies that Barbara spoke about.

Just over my right shoulder, you'll see one of my favorite pizza places.

That's performance superiority.

Right down the block, there's a number of fast food restaurants.

That would be operational excellence.

But what about customer intimacy?

What kinds of stores would really be customer intimate, or

customer-centric, as I like to say. And what makes them different?

So let's really understand how these different strategies compare

with each other, and then take the deeper plunge.

Into customer centricity.

So give me a few minutes to review the traditional steps of running a business.

Running a business in a performance

superior or operationally excellent kind of

way and that's going to give us the basic foundation so we can really

understand how customer centricity is different.

Some of the challenges associated with it.

And some of the opportunities that

customer centricity can provide, that you might

not be able to achieve, with a

performance superiority or an operational excellence strategy.

So let's take a step back and review these traditional steps of running a business.

For most commercial enterprises the overall objective, beyond everything else,

beyond all the tactics that a company is, is using and

the strategy that it's hoping to follow, it's all about making money.

And again, Barbara reviewed this and you don't need to be told this.

it's all about maximizing the value of the whole corporation.

It's looking at the money that we make today, the money that

we'll make tomorrow, the money that we'll make ten years from now.

And when we recognize that time value of

that money, that today's dollars are more important

to us than tomorrow's dollars.

When we take the discounted flow of the company's profits,

that in theory, gives us the overall value of the corporation.

So, our job as a manager to maximize the value of the corporation which

means, maximizing the net present value of profits that the company is going to get.

So we agree on that. That part is pretty easy, conceptually.

But the question is,

how do companies achieve it?

And that takes us back to those core strategies that Barbara laid out.

And when you think about the most traditional

one among them, again performance, superiority, operational excellence.

It's all about coming up with a blockbuster product or service.

Coming up with a brilliant idea that puts us steps ahead of all of our

competition, and then figuring out ways to bring

that idea, that product or service to market.

So it's conceptualizing it,

it's developing it, it's manufacturing, distributing, marketing that idea.

That's what business is traditionally all about.

And so the key, for most firms for making money, isn't only coming up

with that idea but then figuring out ways to produce lots and lots of it.

And one of the things that we've discovered

over the years, is that producing lots and

lots of quantities of this product or service

that we want to deliver, not only helps us

make greater revenue.

But the fact that we're producing and distributing so,

so much of it also brings our cost down.

So the, the core focus of most traditional businesses is high volume, low cost.

And again, coming up with a great idea that enables us to do that.

So, so many companies have built their business.

Around that.

And even today a common question

that we always ask ourselves, particularly when we

have a new business is will it scale?

Can we produce or deliver this product or service at scale so we can do so

much of it that it's going to let us bring in the revenue and bring our costs down.

So that's, that's, that's the basic way that most companies operate.

And over the years, many different metrics

have arisen that help companies understand how

well they're doing it.

Obviously they can look at the volumes that they're delivering.

Obviously they can look at changes in their costs.

Are costs coming down as we develop and

deliver more and more of this product or service?

So some metrics that show us how well

we're, we're doing our business are fairly clear.

Some of them are less clear.

For instance, a very powerful metric is market share.

So many

companies today obsess over market share, because not only does it

give them an indication of how well they're doing relative to their

competitors in a given industry, but it also has these interesting properties

of being a leading indicator of how well you will be doing.

There's a lot of research that goes back to the 1960's, the 1970's that shows

that market share is not only a

good backwards indicator of how well you've done,

but a leading indicator of how well you will likely be doing in the future.

So, so many other metrics, like market share and others,

are central to this product superiority, or operationally excellent strategy.

Beyond running your business and measuring to see how well you're

doing it, a company isn't only interested in fine-tuning those metrics.

They're interested. And in fact,

they're mandated to have growth.

It's not enough just to do what you're

doing a little bit more efficiently and effectively.

Your shareholders demand growth. They want more.

They want more than you can possibly have delivered before.

And so where does growth come from?

In a world characterized by a performance superiority or operational excellence.

What are the sources of, of major growth that,

that a company can enjoy?

And we really see two different sources, that at

first sound fairly distinct from each other, but when we

think about it a little bit more carefully they're

actually just different flavors of the same kind of growth.

So let's think about them a little bit.

One source of growth is taking the products and services

that we've been delivering already and bringing them to new customers.

Either going to new customer segments or

to new geographies.

So it's taking this great product or service and bringing it to new customers.

That's clearly a new source of growth.

The other source of growth that I'm sure

all of you could think about, would be innovation.

So in addition to producing and distributing a certain

set of products or service, what more can we do?

So let's go back to the folks who developed

these great products and services in the beginning, and say

give us some new products and services. Let's go back to the R & D people and say.

Okay you have a certain degree of expertise that

has enabled you to bring us the current product.

What more can you do to bring us either variance

of that product, or entirely new ones that haven't existed before?

So that's an obvious source of growth would

be new products, or extensions to existing products.

So at first, this idea

of taking our current product and bringing it to new customers, or

coming up with new and different products seem fairly different from each other.

And indeed the tactics associated with them, the expertise within

the corporation does indeed have to be a bit different.

When we step back and think strategically, both

of them actually have a lot in common.

Both of them share this basic idea. We have a certain degree

of product expertise. How can we extend it?

How can we take that product expertise, and either extend

it to new customers or extend it to new products?

So regardless of the specific way that you go after growth, the

main source of growth is extending our overall product or service delivery.

And that's what most companies have to be really good at.

We're, we're good at doing a certain kind

of thing.

We're going to try to do it as, as efficiently or effectively as possible.

Now how can we take that product expertise and extend it in new directions?

And how do companies go about doing that?

How do they go about running the existing business as

well as figuring out how to extend the existing product.

Well if you look at the organizational chart of almost any company on the planet.

The company tends to be organized around

the different kinds of products and services that it delivers.

So you'll have a product manager or a brand manager, but it's all about having

separate silos around the different products or services

and then organizing all the activities that way.

And so, so, very often each of these different silos will be responsible not

only to run its own operation as

efficiently as possible, but think about it's

own way of extending that kind of product expertise.

And so, if we sum up the way that most companies

operate, it's all about this idea of product or service expertise.

That's the competitive advantage that so many managers, so many academics,

so many industry experts have focused on for so many years.

We are the best at conceptualizing, developing,

delivering a certain kind of product or service.

And we're going to stay ahead of our competitors by becoming more efficient.

By going to new markets, and always developing new products

and services that are going to keep us a step ahead.

Product expertise.

So what I've just described to you is pretty standard stuff.

For most of you, if you look at your experience as a consumer or

through your work experience, you'll realize that

that's the way that most businesses operate.

And instead of just calling it business, we can now put a label on that.

And that label I like to use is product centricity.

See, in the old days we didn't need a special label for it because for most

companies this was business, and business was this

set of steps that I just described to you.

But today, we're seeing different kinds of business models emerging.

And so we want to now distinguish

the set of practices that I just described.

In fact I like to use a metaphor about a fish swimming around in water.

So while the fish is in the water.

It doesn't realize that it's in water until it jumps into a new environment.

It jumps out of the water for a, for a moment.

And realizes, uh-oh, I'm in a different environment now.

And I kind of like the old environment better.

I'm going to stay in the water. And this

is exactly the kind of issue that many companies are facing today.

They're swimming around in their own water of product centricity.

It works. It keeps the business going.

It gives them some opportunities for growth.

And for many companies that's totally fine.

But for other companies, whether it's out of desperation or

out of opportunity, they're looking for different kinds of environments.

They're looking for different kinds of strategies.

We're seeing more and more companies, jumping out of

the water, and saying is it better out here?

How can I operate out here?

Should I operate out here?

And that's why we're now going to put a specific

label on the old way of doing things, product centricity.

So again, most of you understand that, this is business as usual.

many of the concepts that Barbara was

talking about implicitly refer to a product-centric approach.

And just to sum up the product-centric world before we kind of start

moving away from it, I have this one other slide for you here.

That shows you many of the

classic characteristics of a product centric business.

And if you look up and down the slide, you won't find

a lot that's tremendously insightful, and that's the point I want to make.

Is that the traditional product centric approach

to business, again, focusing on performance superiority or

operational excellence.

is, by now, second nature to most managers.

So if you look at as the slide shows,

the kinds of customers that we're going after, the

kinds of metrics that we're using, the overall focus

in the organization and the business, it's pretty standard stuff.

I just want to call your attention to this

one point to, towards the bottom of the slide.

The idea of the mental process.

And I love this idea of divergent thinking.

And it goes back to an idea I mentioned a few minutes ago.

We have this product expertise, what can we do with it?

How can we spread it out to other kinds of customers, and other kinds of businesses?

Again, implicity, that's the way that most businesses operate.

And we hire people who can think divergently, who can take our particular

core business, and think about ways of spreading it out, to new markets, and

new products and services.

So I want to make that explicit, because as we go

on, we're going to talk about some very different mental processes, as

well as different metrics, and all of the points that

you see on this slide are going to become quite different.

[MUSIC]

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