Reference no: EM13824485

Need to paraphrase this paragraph asap 

The goal of all companies is to expand market share by retaining and increasing the existing customer base. In order to accomplish this goal, a company will segment and tailor its offerings to better meet customer preferences however, more competition leads to greater customization. Companies often run the risk of creating target markets that are too small. Using the Blue Ocean Strategy, companies reverse course and begin concentrating on noncustomers. Companies begin building on the commonalities in customer preferences to unlock new customers and reach beyond existing customer base.

There are three tiers of noncustomers that companies can target to transform into new customers (Kim &Mauborgne, 2005).The first tier of noncustomers is called "soon-to-be" non-customers because this group is the closest to the current customer base. These noncustomers are buyers who minimally purchase a company's products or services out of necessity butare waiting to jump ship as soon as an opportunity appears. However, this first tier of noncustomers would increase the frequency of purchases and become customer if the company offered a significant increase in value in its product or service (Blue Ocean Strategy, 2014).

The secondtier of noncustomers is called the "refusing" noncustomer because this group rejects the products and services. These noncustomersare buyers who know ofwhat products and services the company offersand views them as an option but have decided not to purchase. These noncustomers either does not use,cannot afford, find the offerings too complicated, or find the offerings unacceptable (Kim &Mauborgne, 2005).

The thirdtier of noncustomers is called the "unexplored" noncustomers and is the farthest from the company's current customer base. These noncustomers are buyers who have never considered the products and services that the company offers as an option (Kim &Mauborgne, 2005).Customer Intimacy

Customer intimacy is the ability of a company to gobeyond independent transactional relationship with its customers to deep, long-term customer interactions by understanding, anticipating, and fulfilling the customer's needs. It is an intimate understanding of the customer's preferences and habits to the level that the company can anticipate what the customer wants, understanding how the customer wants it, and being able to deliver it when the customer wants it. AT&T can create customerintimacy by first reaching out to customers and gather more and better information about them. It is important to merge the traditional demographic and behavioral data with data collect from internet and social media platforms. AT&T can also incorporate data from mobile devices. AT&T can use analytics to analyze customers' past behavior and patterns to create the context for predicting a customer's likely preferences. It is important automate its insight-to-action cycle in order to reduce the time to convert new customer preferences into new targeted marketing campaigns. "The goal is to deliver the right message to the right customer at the right time and location." (Gaines, 2013)