The 4th generation of customer satisfaction management?
The fourth generation of customer satisfaction has arrived in business field. In other words, customer value management can be replaced the expression, the fourth generation. The history of customer satisfaction management started with the first generation; simply solve customers’ complaints. Next, the second generation provided friendly service through where can reach out to customers such as call centers or branches. Then third generation improved the level of customer satisfaction by figuring out their needs that customers show. Finally, the fourth generation grasps and meets customers’ potential needs before they realize. This sequence of customer satisfaction management tells us how the key of success in business has evolved. In a highly competitive market, customer satisfaction management is regarded not as a choice but as a must-do.
The Customer Value management
Customer is always placed in the right centre of all practice companies make. To think in customer’s side and make endeavors for customer satisfaction has been around in domestic firms for so long. Lately this has jumped a little distance further to the newest business strategy; customer value management. It is far more than just plain customer satisfaction. On the other hand, it is a concept that gives organizational focus on creating new value for customers. In particular, it stresses customers’ potential needs in order for companies to figure out and offer them.
Jaemoon Kim, Senior researcher in LG economy Research Institute explained that it is very crucial to discover their needs beforehand and then found needs should be applied into R&D and products. The main difference that customer value management has is the starting point much former than previous generation. Myung-hwa Choi, a member of standing committee and in charge of marketing in LG Electronics, added customer satisfaction is sort of passive reaction because satisfaction comes from what customer expected and experienced. Besides, customers are most likely to switch the company if other company offers better and newer values.
Further stories you can read as you follow this site link:
http://www.hani.co.kr/arti/economy/economy_general/283891.html
Why companies pay more attention to customer value?
This is mainly because domestic market has stepped into saturation stage and competition against one another has been getting hotter and hotter as market globalization accelerate its speed. What is more, technology development itself gives no longer competitive advantages but it should be accompanied by newer and distinctive value creation relative to before. Therefore, customer value has become the biggest issue to be able to enhance potential growth of company in the long run.
We have been heard the emphasis on differentiation in developing successful business strategy. As I read through this article talking of customer value, I looked back on the marketing class. Although creating consumer value sounds like essential thing to do, it would be far more complicated if it comes to the stage of taking this concept into action. In the meantime, many ideas came across my mind about how to create a customer value. Of course, I couldn’t immediately come up with organized and logical thoughts due to lack of deeper knowledge. Anyhow the series of evolution happened in customer satisfaction management left some clues to help marketers predict what concept the fifth generation will be. So as history plays a role to reflect the present and enables people living in flowing history to get them prepared for the trends followed by the current flow.
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