Hurd and Nyberg (2004)

Management > Organisational Knowledge and Information Systems > Lectures > Independent Research > Hurd and Nyberg > Turbulent Market Strategy > Vision > Empower employees > Qantas > Control > Customers

Customers

The defining thing about customers is that they want. Customers today have more control and expect to participate more in the development of a new product. A company needs now to not only compete against other firms in its industry, but against all firms in which their customers deal.

Every customer wants:

Quality and value
Specific and immediate needs
Future needs anticipated
Personalised service
Appreciated for their business (as a person, not a walking bag of money)

Thus a firm needs not only to have an consistent internal version of the truth, but the customer needs one too. This is possible if all employees are equipped with all the information necessary to deal with customers and their specific needs.

"Without this consistency, not meaningful relationship can exist". Indeed, a firm will keep credibility and trust if they provide consistent information to the customer.

In market analysis, a company needs to be able to learn from the data it has gathered, turning the data into useful information. a company needs to know what its customers want, not have to guess.

Customer relationship process