Customer Driven - Definition & Meaning
What is Customer Driven?
Customer driven marketing is the marketing of products and services and all the plans and strategies associated with them as per the demands and expectations of the customer.
The statement Customer is King is highly becoming popular amongst corporates in recent times. The times have changed when manufacturers had the luxury to say “any color, as long as it is black”. This was said by Henry Ford for the manufacture of the T-model vehicles. Now-a-days, due to large number of companies catering to the needs of the customers, there is a high demand to differentiate the products and offerings from the competitors. In such a situation, companies are increasingly trying to find out what is that the customers and want and are trying to cater to those needs.
However, there are also some product like the i-phone series by Apple, where the customer did not know that this is what they wanted, until Apple actually got it into the market. Here, the product is highly customer driven, catering to their every comfort, but the product development was not consumer driven. The picture below shows a strategy model for customer driven marketing.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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