Business Management Unit 3 Review

Front

Word-of-mouth promotion and referrals from a business’s current customers to its potential customers

Back

advocacy

Front

A business strategy in which an organization continuously evaluates its business processes to make them more effective and efficient

Back

continuous improvement

Front

The strategies, processes, and policies a business uses to meet or exceed customer expectations and to provide customers with outstanding experiences at every touch point

Back

customer experience management

Front

The customer’s preference for a business; usually expressed in regular purchases from the business

Back

customer loyalty

Front

The company’s configuration of employees for accomplishing specific business tasks; how the business is organized

Back

organizational structure

Front

The stage in the creation of a new product in which a working model may be tested, modified, and retested; production costs are estimated and final details of the product are planned, e.g., label, promotion, and distribution

Back

product development

Front

the purchases a customer makes because of a long-term relationship s/he has established with a business

Back

relationship buying

Front

All the opportunities that businesses have to connect with customers and reinforce their brand value

Back

touchpoints

Front

Publicity for a business provided by customers who tell others of their satisfaction with the business

Back

word of mouth promotion

Front

The belief that providing customers with excellent service should be a business's top priority

Back

customer- service mindset