21 st

Century
Customer
Journal No.4

Cariaga,Lourdi-Ann A.
Cagape,Stephanie B.
What is 21st Century Customer?
Who is an Empowered Customer?
Customer Life Cycle
Consumer vs. Customer
Types of Customer
 Customer orientation
• Cost-Oriented Customers - customer focuses on least costs products
and is ready to compromise on efficacy, performance and quality.
• Value-Oriented Customers - will always stick to efficient and high
performing products as they know that during a long run this would be
a profitable deal. They are interested in investing higher initial capital
cost and then enjoy the cost free benefits in future.
• Technology-Oriented Customers -These customers opt for best
technology rather then less cost or good quality and performance.
These customers are technology conscious because they feel that
usage of best and newest technological products would help them to
remain sustained in the changing technological environment.
 Customer Management Strategies
• Start a relationship - When a customer is identified as having a high
potential to bring profits, start a relationship.
• Protect the relationship - When the customer is significant for the business
and when there is a possibility of the competitor's attraction, then the
managers need to protect the relationship.
• Relationship re-engineering -This is necessary when the managers find
that the customer is not profitable as desired at the current stage.
• Enhance the relationship - The managers identify up-selling and cross-
selling opportunities and try to boost the customer on the scale of value.
• Harvest the relationship - When the managers do not want to spend
much on the existing customer development, they use the cash flow from
these customers to develop new customers.
• End the relationship - It is good to end the relationship when the
customer shows no sign of contributing to future business profit.
• Regain the customer - When the customer goes to the competitor while
choosing another option to fulfill his requirement, then the managers
need to implement win back strategies to regain the customer and
understand the reason of departing the customer.
 Customer Acquisition
• Customer acquisition is the art of persuading the customers to buy
products or to avail services offered by a business. Each time a business
invents new strategies for acquiring new customers, the strategy gets
saturated over some time
Thankyou and God Bless!