Class Central Tips
This course suggests why companies should be customer centric. Customer centricity provides a number of competitive advantages including revenue growth and cost reduction. The key concept is customer lifetime value (CLV) For example, a typical household spends more than $500,000 over 15 years at nearby grocery stores. Customer centricity is important, but most organizations struggle to implement it properly. This is due to internal operations, processes, and most importantly, cost accounting systems. Since the industrial age, the cost accounting focus has been very product centric, and there needs to be a shift customer centric accounting. This course, taught by Professor Jagdish Sheth, 2020 Padma Bhushan Award winner for Literature and Education, offers videos, articles, and recommendations from senior industry leaders on how to successfully implement customer centricity.
