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🔥NEW The Differences Between Customer-led and Market-oriented Companies
Stefka Nenkova, Student (University), Netherlands, Member
The concepts "customer focus" and "market orientated" are often discussed and presented in different companies’ mission statements. It is important to know that there are significant differences between these two customer orientations. Slater and Narver (1998) have made a point on that matter, while also trying to point out the conditions under which both strategies may be successful as well as possible problems they may lead to. Below I share a summary of their findings.
THE CUSTOMER-LED BUSINESS
- Focuses on understanding the expressed needs of the customers and finding ways to satisfy those needs
- May develop close relationship with major clients
- Is reactive and short-term in focus
- Leads to adaptive learning, which hides the danger of limiting the manager’s view to the one of their current customers’ eyes
- Hampers innovation with its focus only on current rather than the potential needs of the customers
- Needs a valid meas (...) Read more? Sign up for free
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