Customer empowerment drives the value chain
Companies have always sought the best ways to respond to customers’ needs. In the 20th century, industry focused on mass production and the quest for economies of scale to come up with compelling value propositions. The late 80s and 90s saw the emergence of an opposing approach driven by the idea that customer satisfaction could best be achieved through individually designed products and services. The opposite of mass production, “mass customization” was born.
“Car manufacturers have offered configurable ‘options packages’ for quite some time,” Merijn notes. “Starbucks lets you create your own cup of coffee, and Nike gives you the freedom to design the look of your sneakers. But this degree of customization pales in comparison to earbuds made to fit the anatomy of your individual ears, or personalized diet plans based on a sample of your DNA.” You can subscribe to our CIO Connect newsletter with trends and customer stories to stay informed.