Tag Archive | Lead-to-order
Mass Customization and the ConsumerThere is no denying that today’s consumer has demands that are growing at an exponential rate, with no signs of slowing down anytime soon. Not only do consumers want products and services that are tailored to fit their needs, they want them at a good price. With this said, there is only one way businesses can keep up with these demands and that is through mass customization- a trend that can be applied to many industries. Simply put, mass customization is the combination of flexible, custom-made products with the pricing of mass produced goods. It is a way for companies to give every consumer exactly what they want, as long as a superior business process is in place.
This is the final post in my series on optimizing the LTO process. We have covered everything from managing the initial lead to capturing the final order.
We’re going to cover two steps today as they are closely linked to one another. In the last step we optimized the price quotation based on specific customer needs. The fifth step in optimizing the LTO process is to prepare the formal quotation or proposal, and then step six is to capture the contract or order.
In my last post, we discussed product configuration as the third step in the LTO process. Today I’m going to cover the next step, price optimization.
Thus far in our discussion of how to optimize the lead-to-order (LTO) process we have covered lead management and performing a customer needs assessment. Once you have successfully established the lead and determined what the individual needs and requirements of that customer are, the next step is to create and validate a product configuration capable of meeting said needs.
In my last post, I discussed lead management activities as the first step in the LTO process. Today I’m going to cover the next step, performing a customer needs assessment.