Tag Archive | Mass Customization
Mass Customization and the Consumer
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.
The Growing Importance of Customization in B2B Product Offerings
There has been a lot of talk lately about mass customization or co-creation activities amongst sellers of consumer goods. Facebook has even teamed up with a number of companies to offer customized versions of their products through the site, such as personalized chocolates.
Subscription Fee Wars Make Telecommunications a Tough Business
As of July 2009, over 87% of Americans had a cell phone. That figure is not just adults, but 87% of the overall population, meaning nearly every adult and a lot of children have mobile phones. Up until the last couple years, wireless carriers were still gaining new subscribers at a fairly regular pace meaning company growth was virtually assured. With the country at near total mobile phone penetration though, providers can no longer rely on new subscribers for continued growth.
Mass Customization Offerings Show Results
With the continuous growth of ecommerce sales, even through the recent recession, companies selling to both businesses and consumers are increasingly making better use of this channel. One particular benefit of ecommerce that is beginning to take off more is the ability for shoppers to design their own products, a process known as co-creation or mass customization.
CRM and Product Configurators: Improving the Sales Process
CRM and Product Configurators: Improving the Sales ProcessIf you work in sales, you are familiar with customer relationship management (CRM) systems. These software tools have become ubiquitous in the industry, and provide a tremendously beneficial service to sales teams. The ability to keep track of all customer contact, sales history, and other sundry pieces of customer data has helped countless salespeople to improve their relationships with their customers and thereby increase their sales performance.
3 Key Components to Succeeding in Mass Customization
I recently read a very interesting article in the MIT Sloan Management Review (written by Fabrizio Salvador, Pablo Martin de Holan and Frank Piller), Cracking the Code of Mass Customization. Their conclusions are based on the understanding that Mass Customization must not be a final goal “in which a company knows exactly what each customer [...]
