Chapter 2 Vocab Flashcards
Identify Customers, Discover Customers' Needs, Respond Effectively
Advantages a customer gains from using a product or service
Benefits
The use of sophisticated technology to connect database fields, providing the store with valuable information about customer wants and needs
Customer Relationship Management
Customer characteristics such as age, gender, ethnic group, income level, family size, occupation, and educational level
Demographic
Strategy in which prices fluctuate based on such factors as consumer desire
Dynamic Pricing
The people who buy a company’s product or service
External Customers
Characteristics of a product or service, such as color, size, type of material, weight, speed, and power
Features
Joint interviews with top customers for the purpose of gathering information about how a particular product or service can be improved, whether a new type of service will be useful, and other information
Focus Groups
People within an organization who rely on one another for the information and resources they need to perform their jobs
Internal Customers
People who fit the description of existing customers but are not being served currently
Prospects
An agreement that specifies the service expected of each department in a company and the time frames in which they are to be provided
Service Level Agreement
