chapter 14 Flashcards
1
Q
Customer relationship management
A
process of building and maintaining customer relationships by delivering value and satisfaction.
2
Q
customer acquisition
A
act of gaining new customers
3
Q
customer retention
A
developing better relationships with your customer
4
Q
touchpoint
A
customer comes into contact with a brand or company
5
Q
three key touchpoints
A
human, interactive, static
6
Q
pareto’s rule
A
80% of a brand’s sales come from 20% of its customers.
7
Q
process of analyzing customer patterns and insights to make better decisions
A
date mining
8
Q
central repository of data
A
data warehouse
9
Q
customer lifetime value
A
value of a customer if that customer remains loyal to the firm over their lifetime.
10
Q
share of wallet
A
% of a customer’s purchases a company has in a specific product.
