• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Kiiky Wealth

Kiiky Wealth

Learn How to Build Wealth Online

  • Make Money Online
    • Make Money Fast
    • Make Money with Online Survey
    • Money Management
    • 10 Best Cryptocurrency Exchange Company in Nigeria | 2022 Updates
    • Make money in New York
  • High Paying Jobs
    • Highest Paid Pilot
    • highest paid Sport
    • Highest Paid Flight Attendant
    • Highest Paid Military
    • Highest Paid Doctors
    • Highest Paid Model
    • Highest Paid Comedian
    • Highest Paid Boxers
    • Highest paid Lawyers
    • Highest Paid Podcaster
    • Highest paid Journalist
    • Highest Paid Photographer
    • Highest Paid Preacher
  • Making Money Apps
    • Money Apps for iPhones
    • Money Apps for Android
    • Dating Apps
    • switch apps
    • Shoe Apps
    • Best Fishing Apps
    • Sugar Daddy Apps
    • Cheating Apps
    • Advance Cash Apps
  • Side Hustles
    • Side hustle in Canada
    • Work from Home
    • Side Hustle for Electricians
    • Passive Income Ideas
  • Investing
    • Loan
    • Coins
    • Cryptocurrency
    • Forex
    • Insurance
    • watch free cinema movie online
    • free books for kids
  • Kiiky Home
  • Kiiky Jobs
  • Kiiky Insurance
  • Kiiky Tech

Product-Centric vs Customer-Centric: Which Approach is Best for My Business?

May 4, 2022 by godswill Leave a Comment

product-centric-vs-customer

Product centric vs Customer centric: What business are you in?

It’s quite unfortunate that many business owners and marketers don’t know what it means to be product-centric or customer-centric. This is clearly one of the reasons many businesses suffer a setback.

Here is it, Product-centric is focused on developing the best products while Customer centric believes in satisfying the customers’ needs.  Although these two designs are full of opposing ideas, they are effective in their own ways.

Knowing the difference between a product centric and customer centric business approach is great. However, if you want to stand apart from your competitors, you must seek a clearer understanding of how these two models apply to various businesses. You’d never know which approach would be more sustainable for your business.

In this article, you’ll discover the major differences between the product centric and customer centric as well as their individual business models. The aim is to enable you to make a better decision about your business model and design.

Product Centric Model

“Customers don’t know what they want until you show it to them” ~ Steve Jobs. This is a typical product-centric representation.

A product-centric organization is one that is focused on the products it brings to the market as a way to measure success and determine strategy rather than the customers that buy those products.

They look to develop new products by leveraging technology or specialized skills that exist within the company,

Read Also: Top 16 Customer Support Services Platforms in 2022

Customer Centric Model

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better” ~ Jeff Bezos

Customer-centric company model starts with the customer. They work to meet the needs of customers. In fact, customers are at the core of every business decision they make.

RELATED:  How to get Louisiana Business License, Permit, and Registration | Full Guide

Have you too noticed that marketers are gradually adopting a customer-centric approach and taking into account what is important to their customers?

Let’s see the reason for that.

Product Centric Versus Customer Centric – What is the Difference?

The table below shows a clear distinction between product-centric and customer-centric business model.

Product-CentricCustomer-Centric
Create the best productsCreate the best solution for the customer
Develop new productDevelop a solution to problems
Reward people that develop new productsReward people with great insights into customers
Aligned with the industrial eraAligned with the experience economy
Pushes products unto the customersHave informed buyers

Product-centric companies and customer-centric customers have the same goal of maximizing their shareholders’ value, but the difference lies in how they intend to achieve their goal.

Product-centric approach gives management a clear structure and makes it easy for the team to identify their focus.

Solo, the plastic cup company, is typical product-centric because their products don’t require a lot of effort to purchase.

Solo customers are more concerned with the value of their purchase rather than building a business relationship with the brand.

Generally, product-centric companies achieve their goal through high volumes and cost reduction. These companies have a lot of expertise in a certain technology or area making them strive to increase their production and possibly dominate the market.

However, this might lead to them being less receptive to customer feedback, which is obviously problematic.

On the other hand, customer-centric companies rely on customer development, retention, acquisition as their major strategy. They structure their processes around the future, segmentation, and personalization.

RELATED:  15 Best Mortgage Lenders For Self Employed In 2022

Take a look at companies like Apple, Amazon, Zappos, and Southwest Airlines, and how their customer focus helped them break into incredibly competitive, established industries. They keep creating a lot of brand new categories.

Product Centric vs Customer Centric-Which One is More Sustainable?

Product centric approaches to business have their roots in the industrial era and are fast losing relevance in a new age where the customer is in charge.

Likewise, customers are willing to provide positive reviews to businesses that provide them with a fair exchange of value.

It is the customer-centric approach to business that delivers greater long-term value to the business.

Mainly because these approaches recognize the value of customer loyalty and advocacy. And they recognize that the value of a business is reflected within the composition of its customer portfolio.

Related: 15 Free Live Chat Software In 2022 | Engage Your Customers Realtime

Conclusion

Product-centricity and customer-centricity are approaches to business models. Both approaches are vital for any business growth. In fact, these two approaches ideally go hand-in-hand, but it is important to understand the difference to know how to properly run your business.

Recommendations

  • 15 Free Live Chat Software In 2022 | Engage Your Customers Realtime
  • Top 16 Customer Support Services Platforms in 2022

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

15 Highest Paid Jobs Idaho Without Degree |2022

25 Best Ways To Invest 50k In 2022: Full Guide

Can You Return Gift Cards: Best Solutions For You In 2022

15 Highest Paid School Districts In Massachusetts |2022

Who is a Lender? Overview, Types, Factors to Consider

Is SurveyJ Legit In 2022: How It Works | Full Reviews

Top 10 Youtube Channels To Learn Robotics

Financial Planning in your 20s: Best Guide for your decision

15 Highest Paid Public Employees In Texas | 2022

15 Highest Paid Doctors In California 2022

Footer

15 Highest Paid Jobs Idaho Without Degree |2022

25 Best Ways To Invest 50k In 2022: Full Guide

Can You Return Gift Cards: Best Solutions For You In 2022

15 Highest Paid School Districts In Massachusetts |2022

Who is a Lender? Overview, Types, Factors to Consider

Is SurveyJ Legit In 2022: How It Works | Full Reviews

Top 10 Youtube Channels To Learn Robotics

Financial Planning in your 20s: Best Guide for your decision

15 Highest Paid Public Employees In Texas | 2022

15 Highest Paid Doctors In California 2022

15 Highest Paid Jobs In North Carolina |2022

How to Raise Credit Score 100 Points Overnight | Full Guide

12 Best Way to Invest 20k in 2022: Full Guide

15 Highest-Paid RN in California 2022

15 Highest Paid State Employees Washington 2022

Top 10 Netflix Movies To Watch In February 2022

10 BEST ALTERNATIVE TO ONLYFANS

10 Best Sites for Free Boxing Streaming in 2022

How to buy stock on Webull Easily

What is Email Task Management?

10 Best YouTube Channels For Aptitude And Reasoning

10 best passive income ideas for graphic designers

10 best YouTube Channels For History

What is a Knowledge Manager?

10 Best YouTube Channels For Learning Spanish

10 Best Netflix Movies For Valentine’s Day

20 Best 30th Birthday Gift Ideas for Him

15 Highest Paid Jobs in Colorado |2022

10 Best YouTube Channels For Girls

New York Times 30 Highest-Paid CEOs| 2022

Copyright © 2022 Silicon Africa

  • Contact US
  • Terms & Conditions
  • DMCA Policy
  • Privacy Policy