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v. t. e. Customer relationship management ( CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. [1] CRM systems compile data from a range of different communication channels, including a company's website, telephone (which ...
Customer Support is a range of services to assist customers in making cost effective and correct use of a product. It includes assistance in planning, installation, training, troubleshooting, maintenance, upgrading, and disposal of a product. [ 1] Regarding technology products such as mobile phones, televisions, computers, software products or ...
The customer development method consists of four steps that are designed to help avoid common pitfalls and repeat successful business strategies: Customer discovery first captures the founders’ vision and turns it into a series of business model hypotheses. Then it develops a plan to test customer reactions to those hypotheses and turn them ...
Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." [1] Enhancing customer satisfaction and fostering customer loyalty are pivotal for businesses, given the significant importance of ...
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Customer experience. Customer experience, sometimes abbreviated to CX, is the totality of cognitive, affective, sensory, and behavioral customer responses during all stages of the consumption process including pre-purchase, consumption, and post-purchase stages. [1] [2] [3]
Customer lifetime value: The present value of the future cash flows attributed to the customer during his/her entire relationship with the company. [2] Present value is the discounted sum of future cash flows: each future cash flow is multiplied by a carefully selected number less than one, before being added together.