If you really want to get the most out of this session, which will focus on how to make money using Customer Centricity, read the book prior to the meeting. The book is inexpensive - on Amazon less than $12 in paperback and less than $8 as a Kindle book - and invaluable.
After a brief review of Professor Fader’s recent book Customer Centricity: Focus on the Right Customers for Strategic Advantage, we dive deep into the profitability question: given the risks and costs of becoming customer centric, how can it be more profitable than the more traditional product-centric approach?
He is a Frances and Pei-Yuan Chia Professor, Professor of Marketing and Co-Academic Director of Wharton Customer Analytics Initiative. Professor Fader's expertise centers around the analysis of behavioral data to understand and forecast customer shopping/purchasing activities.
He works with firms from a wide range of industries, such as consumer packaged goods, interactive media, financial services, and pharmaceuticals. Managerial applications focus on topics such as customer relationship management, lifetime value of the customer, and sales forecasting for new products. Much of his research highlights the consistent (but often surprising) behavioral patterns that exist across these industries and other seemingly different domains.