3.01 CR-016 Glossary

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  1. Advocacy: Word-of-mouth promotion and referrals from a business’s current customers to its potential customers
  2. Business process management: A business strategy that stresses technology, innovation, and flexibility to align an organization’s objectives and activities with customer needs
  3. Continuous improvement: A business strategy in which an organization continuously evaluates its business processes to make them more effective and efficient
  4. Corporate culture: The values and ideals that an organization encourages among its employees
  5. 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
  6. Customer loyalty: The customer’s preference for a business; usually expressed in regular purchases from the business
  7. Customer relationship management: The strategies, processes, technology, and people a business uses to build, maintain, and maximize the long-term value of customer relationships
  8. Customer satisfaction: A measure of how well a business has met its customers’ expectations
  9. Customer service: Activities and benefits provided by a business to its customers to create goodwill and customer satisfaction
  10. Customer-centric: Focused on customer needs and wants
  11. Organizational structure: The company’s configuration of employees for accomplishing specific business tasks; how the business is organized
  12. 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, e.g., label, promotion, and distribution
  13. Relationship buying: The purchases a customer makes because of a long-term relationship s/he has established with a business
  14. Touch points: All the opportunities that businesses have to connect with customers and reinforce their brand value
  15. Word-of-mouth promotion: Publicity for a business provided by customers who tell others of their satisfaction with the business