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objective 1.01

business management

TermDefinition
advocacy: word of mouth promotion and referrals from a business's current customers to its potential
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 its employees
customer experience management the strategies processes and policies a business uses to meat or exceed customer expectations and to provide customers with outstanding experiences at every touch
customer loyalty the customer's prefernce for a business usually expressed in regular purchases from the business
customer relationship management the strategies processes techology and people a business uses to build main tain and maximize the long term value of customer relationship
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 companys 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 productare planned
relationship buying the purchases a customer makes because of 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: user-1913468
Popular Business sets

 



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