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Business Management

Glossary

QuestionAnswer
Advocacy Words of mouth promotion and referrals from a bussine current customers to it potential customers
Business process managemnt A business strategy that streses technology innovation and flexibility to align an oganization objective and activites with customer needs
Continuous improvement The vaues and ideals tha an oeganoztion continuously rvaluates its business processes to make them more effective and effocient
Corporate cullture The values and idals that an organzation encourages amoung its employees
Customer exerience management The stragies procese and policese a business uses to meet or excees customer's expection and to provid custmer with outstanding experiencat every touch point
Customer satisfacion A measue of how well a busines has meet its customer expeccation
Customer-centric Focused on cumtomer needs and wants
Organiztional structure The compan company configuration of employees for accomplishing specific busines task how the busines is orgained
Prouduct devlopment The stage in the creation of a new product in which a working model may be tested modified and retested productioncosts are estimated and finial details of the product are planned e.g label promotion and disyributoion
Relationship buying The purchases a cusomer makes because of a long term realtionships s/she has established with a business
Touch points All the opportunites that bussinees have to connect wth customers and reinforce their brand value
Word of mouth promtion Publicity for a bussines proviede by customer who tell others of their satifaction with the busines
Customer relationship The strateggis processe technologyand people a business to blud maintain and maxinze the long term vaule of customer relationships
Customer loyalty The customer preferne for the a business unally expressed in regular prchess from the bussines
Created by: Sreyes936
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