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objective 1.01
Business management 1
| Term | Definition |
|---|---|
| Advocacy | Word-of-mouth promotion and referrals from a business's current customers to its potential customers |
| Business process management | A business strategy that stresses technology, innovation, and flexibility to align an organization's objectives and activities with customers needs |
| Continuous improvement | A business strategy in which an organization continuously evaluates its business process to make them more effective and efficient |
| Corporate Culture | The values and deals that an organization encourages amount its employees |
| Customer experience management | The strategies, process, and polices a business uses to meet or exceed customer expectations and to provide customers wit outstanding experiences at every touching point |
| Customer loyalty | The customer's preference for a business; usually expressed in regular purchases from the business |
| Customers relationship management | the strategies, processes, technology, and people a business used to build, maintain, and maximize the long-term values of customer relationship |
| Customer satisfaction | A measure of how well a business has met its customers' expectation |
| Customer service | Activates and benefits provided by a businesses to its customers to create goodwill adn customer satisfaction |
| Customer-centric | Focused on customer needs and wants |
| Organizational structure | The company's configuration of employees for accomplishing specific business tasks; how the business is organized |
| Product development | the stage in the creation of a new product in which a working model may be tested, modified and retested; production cost 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 opportunities that business have to connect with customers and reinforce their brand value |
| Word-of-mouth promotion | Publicity for a business provided by customers who tell other of their satisfaction wit the business |
Created by:
q.esmeralda26
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