When we say customer is the king, it has a logic behind it for if there is no customer, there is no sales and hence no business or profit. Like the king the customer gets bored with things/offers/products/services which are mundane. Don’t the companies know that ! I bet they do but the cost of moving to an alternative approach bogs them down and it is exactly where the youth with its mastery over technology and the vision to co-create helps companies achieve what they strive for the most – “Customer ecstasy”.
The market has become a breeding ground for creativity, where the traditional I demand a Bengal tiger and you give me anything close to a tiger is replaced by I demand a Bengal tiger with these many stripes and color combination and I receive that. For example Nike, allowing personalized, unique experiences for the customer eventually adding revenue, customer insight and brand loyalty to the firm. It’s all about creating the feeling of empowerment for the customer.
Youth have always been the driving force of a “wave” or “trend”. With the reach and ease of technology, creative and media opportunities are also becoming personalized. The rise of digital PR and E-commerce and online branding is one of the best examples. Flipkart thrives on its offering of customer ecstasy where the majority of its customers belong to the 15-40 years age group.
After all it is interplay between, co-creation, technology and creating customer ecstasy. The opportunity is right there and the brands just need to look beyond the obvious.