Monday, 29 April 2024, 9:46 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
C
Customer ExitsPart of managing a key account is the ability to know when to adopt, and similarly when to retire an account. A company with an unmanageable portfolio, since inappropriate customers have not been cleaned out, simply drains company resources, and ultimately profitability. There are two options for customers who should leave the portfolio: they should either be exited to customer tier below, or they should be completely exited, and their business lost to the supplier. When the choice to exit the customer to the below tier is done, the customer could be carefully and slowly withdrawn from company resources, as not to notice the change in key account status. |
Customer Market SurveyMarket survey is the survey research and analysis of the market for a particular product/service which includes the investigation into customer inclinations. A study of various customer capabilities such as investment attributes and buying potential. |
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. |