Sunday, 28 April 2024, 12:18 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
C
Customer OrientationCustomer orientation stage, where the company conducts applied research through utilising various methods such as focus groups, and the internet to determine what the needs of the consumers are, thereafter produce products to satisfy those needs. |
Customer PowerThe change within the business environment that is having the most dramatic impact on the development of KAM is the new-found expertise and power of customers and consumers in exercising choice. Customer empowerment is not just a cultural change due to companies being more customer focused, it is a consequence of mature markets, and as a result of technology. Consumers today are extremely knowledgeable and make very informed buying decisions. |
Customer RelationshipsThe development of an ongoing connection between a company and its customers. |
Customer RetentionCustomer retention is a company's ability to retain its customers over time |
Customer ServiceCustomer service is the provision of service to customers before, during, and after a purchase. |
Customer Service Measurementscustomer service metrics, as the name suggests, provide data on your customer service team's performance in terms of efficiency and speed. These metrics focus purely on numbers, such as how many emails you receive per day, how many calls you answer, the rate of response, and so on. |
Cyclical UnemploymenCyclical unemployment coincides with a downswing or slump in the business cycle. |
D
Decision-makingThe process or action of making a decision, it involves identifying alternatives and then choosing the course of action. |
DemandDemand refers to all goods the consumer is able and willing to pay for. |
Demand CurveDemand curve is a graphical representation of a consumer showing the relationship between price and quantity of a given item. |