Marketers are increasingly realising that enhanced customer experience leads to creating greater consumer satisfaction that helps in differentiating brands in a hyper-competitive market space. This satisfaction plays a big role in the customers’ final purchase decision. It’s very intangibility and subjectivity have opened doors for organisations to focus on engaging and creating an environment that aims at influencing the buyer by separating themselves from other brands jostling for buyer attention.
Traditional business models are slowly becoming obsolete in the current market environment as these models entail departments and functions operating in silos with limited collaboration of each other’s intelligence and expertise.
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
