3.03 Key Terms

Question 1

corporate culture

Answer 1

The values and ideals that an organization encourages among its employees

Question 2

courtesy

Answer 2

Polite behavior; good manners

Question 3

customer loyalty

Answer 3

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

Question 4

customer relations

Answer 4

All the activities a business engages in to interact with its customers

Question 5

customer service

Answer 5

Activities and benefits provided by a business to its customers to create goodwill and customer satisfaction

Question 6

customer-centric

Answer 6

Focused on customer needs and wants

Question 7

internal customers

Answer 7

The people (i.e., employees) who work cooperatively together to achieve business goals

Question 8

patronage

Answer 8

loyalty to a particular business

Question 9

proactive

Answer 9

Adapting to the environment in advance of the occurrence of events; taking advantage of opportunities rather than reacting to problems

Question 10

productive

Answer 10

The amount and the value of goods and services produced (outputs) from set amounts of resources (inputs)

Question 11

touchpoints

Answer 11

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

Question 12

word-of-mouth promotion

Answer 12

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