Whether we have observed it or not, in marketing the shift from product to the customer already progressed in the last two decades. Mc-Kinsey and co acknowledged it first 2009 by introducing CDJ (Consumer Decision Journey) model, later HBR published Rethinking Marketing in 2010 outlining this shift. If a brand is not on the right side of below shift, there is a big chance it will be left out by the consumer soon.
Push Brand —> Serve Customer Segment
Product Manager Driven Strategy —> Customer Manager Driven Strategy
Word of Mouth —> Word of Mouse (or touchpad/ screen)
Product Profitability —> Customer Profitability
Brand Equity (Value of Brand) —> Customer Equity (lifetime value of the customers)
Market Share —> Customer Equity Share
Sales Funnel —> CDJ
Market Budget (As Fixed Cost) —> Marketing Investment (Customer equity as Asset)
(Photo by Hello I’m Nik on Unsplash)
SANTOSH SRIVASTAVA 