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Customer-centric marketing and sustainable competitive advantage: Developing a customer-centric framework and examining the benefits of implementing this framework
Stockholm University, Faculty of Social Sciences, Stockholm Business School.
2016 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

Over the years a significant paradigm change has occurred in the business environment, from a seller’s market to a buyer’s market. This change has also impacted the business philosophy that guides companies’ marketing efforts, where they moved from the older business concept, the production concept, towards the newer concept, the marketing concept (synonymous with e.g., customer-centric), which has been shown to be more effective in a buyer’s market. Yet, there are still companies stuck with the production concept as it can be hard for companies to embrace the marketing concept and to consider the central needs of their customers. As the companies are stuck with the production concept they are also stuck with its mainstream framework, the 4Ps, which has also been revealed to have several limitations in today’s environment, where the industry as well as the the customers’ needs are constantly changing.

That said, this study will be aimed at companies who desire to successfully implement a customer-centric approach in their company. This study will contribute to this by developing a customer-centric framework that companies can use as a toolkit to achieve it. The study will also develop an integrative map to present the potential benefits a company can achieve by implementing this newly developed framework. To achieve this research aim, this will take the form of a conceptual study by reviewing the marketing field and identifying theories and measures that are essential.

Finally, in this study the author will identify five customer-centric measures that are essential for companies that desire to implement a customer-centric approach successfully. These five customer-centric measures are: Customer-centric organization, customer-centric customer service, customer-centric innovation, customer-centric sustainability and customer-centric efficiency. Composing together these five measures identified will lead to the developed framework which will be coined “the five customer-centric measures” (The five CCMs).

The benefits a company will receive after implementing the five CCMs are the customers’ behavioral outcomes, which are: customer retention, positive Word-of-mouth and customer loyalty. Overall this will give the company a sustainable competitive advantage.

Place, publisher, year, edition, pages
2016. , 53 p.
Keyword [en]
Customer-centric marketing, Customer-oriented, Marketing concept, Sustainable competitive advantage, Customer-perceived value, Service logic, the five customer-centric measures, Customer loyalty, Word-of-mouth, Customer retention.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:su:diva-139621OAI: oai:DiVA.org:su-139621DiVA: diva2:1073454
Supervisors
Examiners
Available from: 2017-02-14 Created: 2017-02-10 Last updated: 2017-02-14Bibliographically approved

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Citation style
  • apa
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