Practical experience on customer knowledge utilization

Abstract

The capability of a company to apply customer knowledge (CK) is recognized as a potential source of competitive advantage. However, there has been little academic research on the application of CK. This study adds to our understanding in focusing on success factors and best practices of companies that apply CK successfully. Studies have shown that technological factors such as customer relationship management (CRM) infrastructure, collaboration system and social networks are the fundamental tools for CK application. Human factors such as motivating customer and employee, and enhancing their skills for sharing and managing CK are crucial for CK utilization. In addition, firms need to provide strategies for customer knowledge management (CKM) and use technologies for absorbing and sharing and application of CK.