Guest Lecture

Question 1

What is consumer centricity?

Answer 1

An organization’s ability to …

• understand their customers (situations, perceptions, expectations
• derive actions based on consumer knowledge and take all decisions with consumers in mind
• Deliver products and Experiences focused on meeting coonsumer needs
• build lasting, meaningful relationships, satisfaction and
  loyalty with consumers

Question 2

High level: Describtion of consumer centricity

Answer 2

Consumer centricity places consumers at the heart of everything
businesses do

Question 3

What are benefits of consumer centricity?

Answer 3

• Relevant innovations developed at faster pace decreases development costs and increases volumes at potentially higher price point
• Better predictability of demand leads to less out of stock situations leading to higher volumes
• Better planning capabilities through higher endto-end consumer visibility leads to reduced costss of operations
• Stocks of consumer experience leaders outperform those of consumer experience laggards nearly three times