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Business Management
3.03
Term | Definition |
---|---|
Competition | rivalry between two businesses |
Corporate culture | the values an organization encourages among its employees |
Customer loyalty | A persons preference for a business |
Customer service | Benefits offered by a business to create goodwill among its customers |
Etiquette | rules applying to acceptable behavior |
FAQ's | Frequently Asked Questions |
Incentives | Something that will fufill a customer's needs |
Internal customers | the people who work cooperatively together to achive business goals |
Patronage | loyalty to a particular business |
Proactive | adapting to the environment |
Productivity | the amount of goods and services produced from set amounts of resources |
Respect | regard or esteem |
Target market | customers a business seeks to attract |
Touchpoints | opportunities that businesses have to connect with customers and reinforce their brand value |
Word-of-mouth promotion | when the business is promoted by means of verbal discussion |
Cusomer relations | all activities business engage in to interact with its customers |
Customer-centric | focused on consumer wants and needs |