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Transforming Strategy One Customer at a Time - Literature review Example

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The following paper entitled 'Transforming Strategy One Customer at a Time' focuses on the various types of marketing research studies conducted by the Thomson Corporation. The company deals with newspapers, journals, and textbooks for various organizations…
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Transforming Strategy One Customer at a Time
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The article “Transforming Strategy One Customer at a Time” was on research done to establish the needs of end-users of products by finding out how customers use company products on their daily activities. This is important to company managers as it delineates marketing features that require modification thus help them change the market by evolving product improvement schemes, inventing new products and adjusting pricing models to make them more receptive to customers (Harrington and Tjan Web).
Another aspect addressed by this research is the market size, which is important for managers to determine the appropriate business options in case of need for diversification. Another aspect addressed is how to identify the characteristics of a product that customers value most to ensure that the company inventions meet the needs of all the users especially the end-users. Additionally, the research attempted to establish how a company could invent better alternative products by managers understanding competitor products and thus invest on improving available products to make them more customers friendly (Harrington and Tjan Web).

This research approach has its pros and cons. The strategy is appropriate in establishing the market availability, opportunities for company growth, adjustments for maximizing market and organization resource allocation. The major shortcoming of this research approach is that it is time-consuming (Harrington and Tjan Web). Read More
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