by Joseph Pine
There are no markets, only customers. The term “market” is a convenient fiction masking the fact that enterprises do not treat customers as the unique individuals they are. Instead, we must restore the original conception of a market as a place where a buyer and a seller freely come together to exchange money for value. In an era where Mass Production no longer works the way it used to, businesses must ascend to the proposition – and irrefutable fact – that all customers are unique and deserve to get exactly what they want at a price they are willing to pay. That is the promise of Mass Customization. But to reach its full potential, businesses must further recognize the term “individual customer” as the redundancy it is, reorienting themselves around each one to become truly customer-centric, placing the one who pays us money at the center of everything we do. For it is each and every customer that is the lifeblood of any business.