Ebook Customer Centricity: Focus on the Right Customers for Strategic Advantage (Wharton Executive Essentials), by Peter Fader
Ebook Customer Centricity: Focus on the Right Customers for Strategic Advantage (Wharton Executive Essentials), by Peter Fader
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Customer Centricity: Focus on the Right Customers for Strategic Advantage (Wharton Executive Essentials), by Peter Fader
Ebook Customer Centricity: Focus on the Right Customers for Strategic Advantage (Wharton Executive Essentials), by Peter Fader
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About the Author
Peter S. Fader is the Frances and Pei-Yuan Chia Professor of Marketing at The Wharton School of the University of Pennsylvania. In 2015, Fader co-founded Zodiac, a predictive analytics firm that was acquired by Nike in 2018. More recently, he co-founded Theta Equity Partners, which focuses on customer-based corporate valuation. Fader is the author of Customer Centricity: Focus on the Right Customers for Strategic Advantage and coauthor with Sarah E. Toms of the book The Customer Centricity Playbook. He has been quoted or featured in The New York Times, The Wall Street Journal, The Economist, The Washington Post, and on NPR, among other media.
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Product details
Series: Wharton Executive Essentials
Paperback: 128 pages
Publisher: Wharton Digital Press; 2 edition (May 15, 2012)
Language: English
ISBN-10: 9781613630167
ISBN-13: 978-1613630167
ASIN: 1613630166
Product Dimensions:
5.5 x 0.3 x 8.5 inches
Shipping Weight: 7.8 ounces (View shipping rates and policies)
Average Customer Review:
3.9 out of 5 stars
54 customer reviews
Amazon Best Sellers Rank:
#147,477 in Books (See Top 100 in Books)
I was so disappointed by this book. It is written by a reputed academic and so I expected at least some degree of academic rigor from it. The author starts by criticizing companies like Nordstrom, Costco, and Apple for being product centric because they don't distinguish between customers and provide all their customers with excellent products and services. His main argument is that companies should find their "best" customers and basically ignore everyone else. He praises mediocre companies like Tesco and Vodafone Italia as examples of customer centric companies.I also found the book to be written with a very passive aggressive tone, where the author is constantly saying that the conventional wisdom and the tried and trusted ways are all wrong, and he has the magic bullet to make everything better. The problem is that he provides no convincing evidence at all to support his claims. His constant message is "trust me, I am an expert.."Specifically, there is no scientific evidence from either his research or anyone else's in this book to support his claims.This book was written in 2011 and it hasn't aged well. Apple, a product-centric company is now one trillion dollars in market cap. I thought to myself, thank God, someone at Apple didn't listen to this author!
Customer Centricity is one of those much talked about, almost much hyped, business concepts, that has been around a long time, but somehow has not really found it's place in most businesses.Sure customers are important, but most organizations focus on the money. What they fail to see is that there is a better way to make more money. And that is by being Customer Centric.This book offers some insight into what this really means for a company. Why you should - or should not - strive to become more customer centric, and it offers some useful, practical advice on how to move forward.It does not answer all the questions you may have, and it does not give you a roadmap for implementation but if you need help getting folks in your company to better understand why this concept could be critical to the organisations' success in the future, maybe, just maybe this will help.
This book is well written and straightforward. The concept is simple: choose which customers to please, and don't try to keep the customers that are awful for your business. But while this idea has been around for over a decade, there are still many businesses that need this lesson. This is a quick read and very persuasive. I have already lent it to a few people who enjoyed it and found it useful. Well worth it to purchase this book.
In this book, Fader provides a thoughtful and convincing argument for being customer centric vs. a product centric firm. The major tenants of the book are that focusing on every customer is really a focus on no customer. Fader convincingly lays out his argument that a product centric firm grows through increasing production volume (and driving down cost per manufactured unit) but this typically requires product line extensions and expansion into new foreign markets. While many firms have used this strategy to generate a great deal of stock holder value, the long-term future of firms using this product centric strategy are not bright given ubiquitous knowledge, international competition, and lower brand loyalty through exploding competition and the internet.I like Fader's thorough approach and analytical style. The book is an easy read, relatively short (which I appreciate)and very thought provoking. I strongly recommend it to any marketing strategist or CEO.
The book is a great introduction to the why and general concepts of customer centricity.For example, it clearly differs customer centricity from customer service.Also, if you watched professor’s Fader customer centricity module on his coursera’s marketing course, the book is a good follow on.That said, the book is not good from a “know how†perspective, it’s more about “know whyâ€. I’m looking forward to read his next book on the topic, hope it closes that gap.
There is a professor-like quality to this short book, which I enjoyed. It is a bit repetitive, even in this format, in terms of comparing product-centric and customer-centric organizations, and I felt the meatier last third saved it, for me at least. I really like author Fader's description of what categories of businesses are best suited to each approach. I will use some of the examples from this book in my graduate marketing teaching. (Including the Nordstrom returned-tires story and analysis!)
This is a fairly quick read. The book is a bit superficial and brings a lot of common sense. The chapter on CRM is very relevant. Some people still think you buy the "system" or licenses and then wait for the magic.
A book what must be read by every CEO & CMO plus the other C-level managers how to be successful in the business. Especially before make strategical changes in their corporations or investing in CRM or loyalty programs.Very strategic book and at the same time - very easy readable and reasonably short.
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