The International Journal of Professional Management - ISSN 20422341
Strategic Marketing and Customer Experience in the Digital Era
Volume 17, Issue 2, 2022
Fernando Kevin Vince PhD, DBA, MBA, MBus (Prof. Accounting), FIPA
Introduction
The internet and the maturity of digital technologies has largely changed the traditional trade-off between the economics of delivering individually tailored products and services to satisfy targeted customers and the need for businesses to achieve economies of scale (Barrow 2011). Various factors have emerged, for example, globalisation, digital technology, increasing number of channels, more customer choice and ease of switching.
Creating real world customer experiences is a critical role business in a new era of consumerism (Solis 2013). Leading companies such as Apple, Amazon and Facebook offer customers a consistent, distinctive experience with a clear value proposition (Villani 2019). Boston Consulting Group (Bharat, Yogesh, & Anandapadmanabhan 2019) found that companies can realise 20-40% point improvements in customer advocacy, 15-20% cost reductions and 10-20% revenue increase from customer experience initiatives implemented at scale. The future of business requires attention to creating experiences, products, programs and processes that evoke splendour and rekindle meaningful and sincere interactions and growth (Solis 2013).
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