Customers are becoming more powerful, and customer knowledge can empower organizations and improve their performance. Customer knowledge has been classified in three categories: knowledge FOR customer, knowledge ABOUT customer and knowledge FROM customer. The value of knowledge management has been recognized by organizations. However, the value of external customer knowledge has not fully been recognized, and its impacts have not been sufficiently investigated. Consequently, the objective of this study is to empirically assess the impact of acquiring each type of customer knowledge. Based on preliminary analysis of 13 organizations in banking industry, this study detected that the acquisition of customer knowledge is significantly associated with business processes, employees, products, customers, market and financial performance.
Empowering Organizations through Customer Knowledge Acquisition: A pilot investigation