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Customers, these days, demand ever-higher levels of personalized products and services to suit their needs. Their demand is grounded on technological disruption and access to up-to-date information. Thus, they believe that in an economy characterized by disruption and operational innovations that make customization possible, they have an excellent chance of getting it.
However, leadership at most supplier organizations believe that a strong focus of attention is the key to keeping rivals at bay and realizing amazing revenues. But the approach has its own shortcomings, as a focused market, geography, value proposition, or segment becomes replete after a while. Organizations need to aim for and harmonize multiple points of focus to keep up with the fragmenting demand of their customers.
This presentation, first, highlights dissimilarities in the approach companies adopt towards customized client requirements. The slide deck then talks about the concept of "Smart Customization" and explains in detail the 3 key challenges that companies have to face while implementing Smart Customization:
1. Cost of Complexity
2. Valueless Variety
3. Value Creation and Delivery Alignment
The slide deck also includes some slide templates for you to use in your own business presentations.
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Source: Product Strategy: Key Challenges of Smart Customization PowerPoint document