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Customers: Unknown Entities!

In: Customer Value Generation in Banking

Author

Listed:
  • Stefanie Auge-Dickhut

    (Swiss Institute for Financial Education)

  • Bernhard Koye

    (Swiss Institute for Financial Education)

  • Axel Liebetrau

    (BIG - Banking Innovation Group GmbH)

Abstract

In order to analyse the importance of the change from a seller’s to a buyer’s market, it is necessary to understand the guidelines of customer behaviour in the digital age. The danger here is that the experiences of the past may be perpetuated. But even where it is possible to approach the customer in an innovative manner, there is still no guarantee that future-viable solutions will emerge. Customers cannot be expected to know in advance the innovative solutions to their needs. All that people wished for prior to the invention of the automobile were faster horses; before the introduction of the PC they sought more flexible data processing, and before the advent of the iPhone the integrated use of all data. This chapter outlines the trends that influence customers (see Sect. 1.1) and the “blunders” intrinsic to the development of a modern understanding of the customer (see Sect. 1.2).

Suggested Citation

  • Stefanie Auge-Dickhut & Bernhard Koye & Axel Liebetrau, 2016. "Customers: Unknown Entities!," Management for Professionals, in: Customer Value Generation in Banking, edition 127, chapter 1, pages 3-20, Springer.
  • Handle: RePEc:spr:mgmchp:978-3-319-19938-2_1
    DOI: 10.1007/978-3-319-19938-2_1
    as

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