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Business Essientials

TermDefinition
Competition The rivalry between two or more business to attract scarce customer dollars.
Corporate culture The values and ideals that an organization 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.
Customer-centric Focused on customer 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 customer's specific desire or need.
Internal customers The people (I.e., 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 value of goods and services produced (outputs) 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: angelo.g828
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