To start with you can never run an organization just thinking about profits. It is the end result. If everything is done well and if the products/services are uniquely differentiating, it will happen. It will happen gloriously.
But the newbies to entrepreneurial work will always think about profit and it is a bad approach from a great contributor to the society, the entrepreneurs.
So what is left is, Product centric approach to running an organization or consumer centric approach to running an organization? Before I go further answering this, consumer centricity is a better phrase than customer centricity because, generally to be a customer, they should be part of your current buyers list, which excludes working with the opportunities of “new customer acquisition”.
Coming back to the question of which is a right path for an organization, I want to bring this nicely done comparison chart from www.marketculture.com.
As you can see, the product centric approach is stuck and infatuated in the rails of two dimensional plane – the products, products, products, engineering, development, and perfection of product…, – with out realizing that the whole spirit of working and connecting with people is more important than anything in life and consumers are the ones who give you right ideas as to what matters and what do not.
The consumer centric approach lifts you up and make you fly in three dimensional world of consumers, products, and profits.
If the organization follows product centric, think about how difficult it is to think about cross-selling different products to high value consumers, just as an example. But if you are consumer centric, you are fluidly moving in and out of products needed for the consumers, because you are focused on the consumers and they are the ones who pays your bills and raises your profits.