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obj 101
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 organizations objectives and activities with customer needs |
| Continuous improvement | A business strategy in which an organization continuously evaluates its business processes to make them more effective and efficient |
| Corporate culture | The values and ideals that an organization encourages among it 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 customers preference for a business usually expressed in regular purchases from the business |
| Customer relationship management | the strategies processes technology and people a business uses to build maintain and 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 a 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 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 costs are estimated and final details of the product are planned promotion and distribution |
| relationship buying | the purchases a customer makes because of a long-term relationship s/he has established with a business |
| touch points | all the opportunities that businesses have to connect with customers and reinforce their brand value |
| Word-of-mouth promotion | publicity for a business provided by customers who tell others of their satisfaction with the business |
Created by:
darrylt
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