Question

How would you respond to this post?

To build quality into the products, it is important to know the customers and their desires. A company that is customer-focused and working with customers to improve a good or service will help provide a better-quality result. Ambruch (2013) states, “As consumer demand continues to evolve, manufacturers are being pressured to respond with increasing customer choice” (para. 9). Customers are looking for personalization to their products. Having customers provide feedback can help manufacturers upgrade and improve their products. If customers feel their concerns are being heard and the business is accommodating them, it will build brand loyalty. Another force is “servitization” which is looking beyond the initial sale transaction and the business providing support over the long run (Ambruch, 2013). The initial sale is just the beginning of an extended relationship between the customer and the business. Another force is “smart” products and devices that communicate with each other. Today’s technology-driven customers want a digital personal assistant that can look up information on the internet, set their thermostat, turn on lights and stream video from security cameras. Being able to instantly control things from anywhere is important. This allows users to “be home” when they are away from home. Another force is globalization which allows firms to make a better-quality product at a lower price using lower-cost labor in other countries and sourcing materials at a lower cost.

Answer 1

It is true that, to build a product we should be aware of customer's want. It is their preferences and desires, that should be given importance. A business should sell what customer needs. A company which gives importance to customer's need will always strive in the market. Now, the customers aren't preferring standardized goods. They aren't willing to adjust, if there is an option to have products with their taste and choice, they would buy it. This would eventually lead the company to make personalized products.
Customer feedback plays a key role in business. A business always needs information. Feedback would help an organization to know what the customer needs. Their suggestions and notions about the product would help the company to make changes as per customers' desire. Also, it would create a feeling that the company is caring for its customers. This is how a brand is created. This would lead to a robust loyalty to the brand. Servitization is the model first is meeting the customer's needs. It is always the long run way through which a value is being generated. The initial sale is always a beginning. There would be a long term relationship that would enhance the business to meet its needs.
In the context, of smart products, we mean the Internet of Things(IoT). Here all physical tools or devices are connected via the internet. The user could control and customize the tools as one's own desire rather than choosing the conventional method to operate it. Also, this would help the user to control everything from anywhere.
There is no other factor as globalisation that has changed the world so quickly. It revealed many opportunities for the industries. The barriers of trade, economy, and cultures were shattered. This allowed companies to gather premium raw materials available. Before Globalisation a company was forced to use the local raw materials, even though they weren't sufficient. Also, the companies could hire cheap laborers from countries where unemployment is prevailing. This would lead the company to have less cost and more quality products.