Customer Intimacy refers to the art of getting to know the Customer’s business and problems better and being able to provide solutions that alleviate the customer’s problems rather than just sell one’s product or service to the customer. Companies that excel in customer intimacy combine detailed customer knowledge with opera-tional flexibility so they can respond quickly to al-most any need, from customizing a product to ful-filling special requests. Treacy describes customer intimacy as, " … segmenting and targeting markets precisely and then tailoring offerings to match exactly the demands of those niches. For most businesses, becoming customer-intimate is more of a transformation than a transition. IBM sales staff is empowered to call upon various product leaders and experts to work on the prospective customer and demand the best attention from the Organization for their customer. November 23, 2011. by Dave Munn. You need to know your customer first before you build that relationship. are willing to tailor their products to particular customer needs. Often companies who pursue this strategy bundle services and products into a “solution” designed specifically for the individual customer. Answer Selected Answer: A. are good at production, delivery, price, and convenience Correct Answer: A. are good at production, delivery, price, and convenience Question 16 5 out of 5 points What is a classic marketing exercise that is used to declare that one’s own product is superior to the market leader? Product leadership refers to companies that _____. The primary metrics you'll want to look at include: Each of these measures can tell us slightly different things. Stay up to date with the latest marketing, sales, and service tips and news. The reasons for the failure of such competitors was due to their inability to understand the approach that was required to build Customer Intimacy. Marketing automation software. You can do this by appointing customer advisory boards, creating a forum for your customers to communicate, or reaching out to high-value customers and partners before product launches to get their input and ideas. Response Feedback: That's not correct Question 5 3 out of 3 points Customer intimacy refers to companies that Correct Answer: are willing to tailor their products to particular customer needs. The next time someone had an issue in their home they needed to fix, they would know they can go into Home Depot not just to buy what they needed, but to find out what they needed to buy. Organizations build up expertise in customer’s business segment and are able to be two steps ahead of the Customer when it comes to identifying the root cause of the problem faced by the Customer and coming up with dedicated solutions. You can test and use your own product so that you can understand the kind of value it gives you and what the experience is like from beginning to end. Privacy Policy, Similar Articles Under - Brand Leadership, Customer Intimacy - Key to Market Leadership. © Management Study Guide Free and premium plans, Sales CRM software. Customer intimacy is a business strategy based around high attention to customer needs, and it measures a company's alignment and prioritization of those needs. added customer value, (2) exhibiting a high level of flexibility towards the customer, and (3) a high readiness to exchange information with customers openly with Once you have a greater understanding of your customers' needs, you can try to meet those needs. You may unsubscribe from these communications at any time. Customer intimacy is a way of inserting value into the market. Customer intimacy refers to companies that A) pride themselves on quality and innovation. It's particularly important to offer effective onboarding for new clients if you're a SaaS business. Are Willing To Tailor Their Products To Particular Customer Needs C. Target And Position Themselves High In The Market d. Are Good At Production And Delivery, And Price And Convenience 32. Companies that excel in customer intimacy combine detailed customer knowledge with operational flexibility so they can respond quickly to almost any need, from customizing a product to fulfilling special requests. Manager’s found it easier to convince the management for higher budgets to be spent on technology with the help of IBM solutions. Customer-centric companies are laser focused on their customers. Some companies have built their entire businesses around customer intimacy from the start, while others came to it after deciding they needed to change their business model. Companies that focus on customer intimacy are ones that create close relationships with their customers and fully understand their business. The solutions offere… Which means that after watching hours of Geek Squad videos this audience trusted Geek Squad to be able to help them; converting a customer through the trust which the video content had created. For example, instead of measuring and evaluating customer support reps solely based on the number of calls they take, also include a goal for them to improve their customer Net Promoter Score® (NPS) after every call. B) are willing to tailor their products to particular customer needs. Customer Intimacy: tailoring products and services to meet clients’ needs to the best extent. Customer Intimacy: Strategies for Building Long-Term Relationships Many businesses rely on the latest technologies or the newest products to create a competitive advantage in the market, but even things that are the latest buzz can quickly become commodities. Customer intimacy creates a virtuous circle: the better the supplier knows the customer company with its objectives and difficulties, the better able he is to provide an optimal solution. If this sounds like an unnecessary nice-to-have, you're wrong. Customer Intimacy: tailoring products and services to meet clients’ needs to the best extent. It serves customers who are willing to pay a premium to get precisely what they want and specializes in satisfying unique customer needs through an intimate knowledge of the customers. If you sell a robust product or service that's widely adopted within your industry, create customer training courses and certifications they can fulfill to become industry experts in your product or service, and allow them to offer consulting to help them improve their profile and earn more money. 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