Discussion Reply 3

Discussion response to Eric Eberth I found your discussion exciting and insightful and would like to contribute additional papers to substantiate your points. I agree that focusing on individual needs through customer value differentiation is a more practical approach for organizations, which is one of the reasons why more progress has been made on customer value differentiation than on customer needs differentiation (Rintamäki & Saarijärvi, 2021). I want to add that the growth of data analytics and digital marketing has facilitated the collection and analysis of customer data to develop compelling customer value differentiation strategies. In contrast, customer needs differentiation is more complex and requires more resources and investment to execute effectively (Lin et al., 2021) I completely agree with your perspective. In today's highly competitive business environment, meeting individual customer needs is essential for an organization's success. However, it is important to note that meeting individual needs should be a profitable venture for the organization to sustain in the long run. It is also true that meeting customer expectations and needs increases customer loyalty, which leads to increased sales and reduced competition (Chandra et al., 2022). Therefore, companies should focus on understanding and meeting their customer's needs and expectations to increase their loyalty and sustain their business. "So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets" (New International Version Bible, 2011, Matthew. 7:12). The Golden Rule emphasizes the importance of treating others the way we want to be treated. In marketing, this can be applied to how companies treat their customers. By understanding and meeting their customers' individual needs and expectations, companies effectively treat them how they would want to be treated if they were customers. Companies can apply the Golden Rule in their
marketing strategy by providing personalized products and services catering to their customers' needs and preferences. This approach helps establish a strong relationship between the company and the customer but also helps to increase customer loyalty and satisfaction, ultimately leading to business success. References Chandra, S., Verma, S., Lim, W. M., Kumar, S., & Donthu, N. (2022). Personalization in personalized marketing: Trends and ways forward. Psychology & Marketing, 39 (8), 1529-1562. https://doi.org/10.1002/mar.21670 Lin, R., Chuang, W., Chuang, C., & Chang, W. (2021). Applied big data analysis to build customer product recommendation model. Sustainability (Basel, Switzerland), 13 (9), 4985. https://doi.org/10.3390/su13094985 New International Version Bible. (2011). The NIV Bible. https://www.biblegateway.com/passage/?search=Mark%204&version=NIV Rintamäki, T., & Saarijärvi, H. (2021). An integrative framework for managing customer value propositions. Journal of Business Research, 134 , 754- 764. https://doi.org/10.1016/j.jbusres.2021.05.030
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