1. New Economy
Since there has been and increase in competition, it is advantageous for companies to offer customized products to their customers. In order to customize the products, the company must be flexible and be able to adapt to all of the differences required by each customer. ... Another part of the business model that must change is the importance of customer service in a timely manner. ... An increase in competition has created an extra importance for companies to "own" their customers. In order for them to own the customers, the companies must be easily accessible for communication and ...
- Word Count: 1087
- Approx Pages: 4
- Grade Level: High School