BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The business world is shifting from customer focus to product focus. False. The business world is shifting from product focus to customer focus. 29.

Detailed explanation-2: -A product-centric company focuses its attention on the product regardless of the customers and demand in the market. A customer-centric company puts the customers at the core of every strategy and focuses on creating solutions that satisfy its users’ needs.

Detailed explanation-3: -Customer-centric companies are more profitable Considering the impact customer service can have on retention, it should be no surprise that companies that make their customers a priority are more profitable. Research from Deloitte and Touche found that businesses with a customer-centric focus are 60% better.

Detailed explanation-4: -Customer focus is a strategy that puts customers at the center of business decision-making. Customer-focused businesses make decisions based on how those decisions impact customers-as opposed to focusing on profits above all else. It’s a long-term strategy that develops loyalty and builds trust.