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BM1 key terms

TermDefinition
business process management a business strategy that stresses technology, innovation, and flexibility to align
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 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 customer
customer loyalty the customers preference for a business usually expressed in regular purchases from the business
customer relationship management the strategize processes technology and people a business uses to build maintain 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 good will and customer satisfaction
customer centric focused on customer needs and wants
organizational structure the companies 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
relationship buying the purchases a customer makes because of a long term relationship has established with a business
touchpoints all the opportunities that business have to connect with customers and reinforce their brand
word of mouth promotion publicity for a business provided by customer who tell others of their satisfaction with the business
Created by: CohenB
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