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Custom The Role of Customers in a Modern Economy Essay

The way customers are viewed has naturally evolved over the decades of business development. Relying on simple logic it can be argued that businesses exist to maximize their profits and ensure the growth of the company. This is, indeed, the view that persisted for a considerable time period in business circles. In fact, it continues to persist in some countries up to the present point in time. However, the changing conditions and the environment in which modern companies operate has spurred the shift in the attitudes towards the role of the customers putting them, as a matter of fact, at the center of a given firm’s operations.

Nowadays the customers are being  viewed as a catalyst for growth and ultimately the profit of the company. This tendency has been proven by a number of companies that have put customers at the top of their priority list. In fact, companies like Johnson & Johnson or P&G (Procter & Gamble) are bright examples of how customer-centric approach can yield great results for the business. This approach also helps to maximize the shareholders’ value. It might seem counter-intuitive at first but when looking more closely one can make a conclusion that this is a logical point. By putting the customers first and not having to constantly please the shareholders management, helps to focus on long-term results rather than try to find quick solutions to keep the shareholders happy. Looking at these examples, it is possible to draw a conclusion that it is greatly beneficial for the business to think about its clients first.

Finding out the needs and desires of the customers has become a crucial task of any company, linking various departments together in this cooperative effort to find an answer to the question. Indeed, lots of customer surveys are just the tip of the iceberg. They are aimed at finding out exactly what people want to have and tailoring the product or a service to those desires. To go further, even more challenging task is to provide customers with the desired product before they even know that they want it. This is one of the most important tasks in the environment of massive information attack and immense quantity of almost the same alternatives that an average customer faces. That is why it’s not difficult to agree that the surveys and questionnaires become more and more subtle asking indirect questions and targeting tastes and preferences of the general public. The growing role of psychology in business field serves as one of the examples of how intricate and complex the decision-making process has become.

Finally, the most successful companies try to use the type of customers they have as a measuring tool for their activities. It is imperative that companies assess their markets and find out exactly what kinds of people use their end products or services. This is relatively a new concept that has pushed many businesses to look critically at their market sectors and sometimes even make changes as to what segment of the market they want to satisfy. This, in turn, leads to better focus and clearer understanding of the strategies needed to operate more successfully.

It is clear from the literature as well as from other sources that the role of the customers has changed profoundly in recent times. From mere consumers of the predetermined products they have grown into a powerful force regulating and guiding businesses in their everyday activities. One of the most incredible results of this customer-oriented approach is increased benefits for companies and higher level of revenues. This proves that a company can be people-oriented and at the same time financially growing. Such innovative tendencies constitute the future of business environment and should be taken as a guidebook by companies around the globe.

Code: Sample20

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