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objective 1.01
Business management 1
| Term | Definition |
|---|---|
| Advocacy | word-of mouth promotion and referrals froma business's current customers to its potential customers |
| Business process management | A business strategy that stresses technology , innovation and flexibilty to align an organization's objectives and activities with customers needs |
| Continuous improvement | A business strategy in which an organization continuously evalutes its business processes to make them more effective and efficient |
| Corporate culture | The values and ideals that an organization encourages among its employees |
| customer experience management | The strategies , processes , and policies a business uses to meet or exceed customer expectations and to provide customers with outstanding experiences at every touch point |
| customer loyalty | The customer's preference fro a business; usually expressed in regular purchase from the business |
| Customer relationship management | the strategies , processes , technology , and people a business uses to build ,maintain , an maximize the long -term value of customer relationships |
| customer satisfaction | A measure of how well a business has met its customers' expectations |
| customer service | Activities and benefits provided by a business to its customers to create goodwill and customer satisfaction |
| Customer-centric | Focused on customer needs and wants |
| Organizational structure | The company's configuration of employees for accomplishing specific business tasks; business is organized |
| Product development | The stage in the creation of new product in which a working model be tested , modified , and retested ; production costs are estimated and final details of the product are planned,e.g., label , promotion , and distribution |
| relationship buying | The purchase a customer makes because of a long-term relationship s/he has established with a business |
| Touch points | All the opportunties that businesses have to connect with customers and reinforce their brand value |
| Word- of - mouth promotion | Publicity fro a business provided by customers who tell others of their satisfaction with the business |
Created by:
ashley.p709
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