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CUSTOMER-FOCUS STRATEGY 2: PERSONALIZATION IS NOT A LUXURY
PERSONALIZATION—MAKING PRODUCTS OR SERVICES that are tailored to each individual—is revolutionizing businesses. Personalization challenges all the fundamental concepts business leaders were taught from the day they started their career—concepts like “bigger is better” and “standardization.” These concepts date from the Industrial Revolution, when companies didn’t offer customers many choices but customers bought the mass-produced products anyway because they were so inexpensive.
That was then. Now, customers everywhere want personalized products and services, and they want them at affordable prices. Even companies beloved by their customers struggle with this. For example, although ...
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