Needless to say, the traditional concept of a market is company-centric.
So is the progress of value creation.
Consequently, firms conceptualize customer relationship management as targeting and managing the "right" customer.
Dirms focus on locus of economic value extraction.
The interactions between companies and customers are not seen as a source of value creation.
Value exchange and extraction are the primary functions performed by the market, which is separated from the value creation process, as shown in Figure 1.
It is no surprise that the flow of communications is also from the firm to the consumer, as the market is a place where value is exchanged and the customer has to be persuaded such that the firm can extract the most value from transactions.