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BE 303 Glossary

Business Essentials

TermDefinition
competition the rivalry between two or more businesses to attract scarce customer dollars
corporate culture the values and ideals that an encourages among its employees
courtesy polite behavior; good manners
customer loyalty the customers preference for a business; usually expressed in regular purchases from the business
customer relations all the activities a business engages in to interact with its customers
customer service activities and benefits provided by a business to its customers to create goodwill and customer satisfaction
customer centric focused on customers needs and wants
etiquette rules applying to acceptable behavior
FAQs frequently asked questions; used by businesses to answer questions on their websites or other marketing materials
incentive something that will fulfill a customers specific need or desire
internal customers the people (employees) who work cooperatively together to achieve business goals
patronage loyalty to a particular business
proactive adapting to the environment in advance of the occurrence of events; taking advantage of opportunities rather than reacting to problems
productivity the amount and the value of goods and services produced from set amounts of resources (inputs)
respect regard or esteem
target market the particular group of customers a business seeks to attract
touchpoints all the opportunities that businesses have to connect with customers and reinforce their brand value
word-of-mouth promotion promotion for a business provided by customers who tell others of their satisfaction with the business
Created by: alexander.s132
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