Business Is Defined by Customer Relationships

Michael Hammer, consultant and author of The Agenda, says the real new economy is the customer economy. As scarcity gave way to abundance, as supply exceeded demand, and as customers became better informed, we have seen a power shift. Customers have taken more control of their own destinies.10

On the surface, the major focus of the age of information seems to be the accumulation of more and more information and the never-ending search for new forms of information technology. It’s easy to overlook the importance of the human element. Humans, not computers, have the ability to think, feel, and create ideas. It is no coincidence that relationship selling and relationship marketing, which emphasize long-term, mutually satisfying buyer–seller partnering relationships, began to gain support at the beginning of the information age. Companies such as DuPont, Kraft Foods, and General Electric have adopted a philosophy that focuses on customer satisfaction, team selling, and relationship selling.12

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