BMI 3.01
Continuous improvement
A business strategy in which an organization continuously evaluates its business processes to make them more effective and efficient
Business process management
A business strategy that stresses technology, innovation, and flexibility to align an organization's objectives and activities with customer needs
Customer satisfaction
A measure of how well a business has met its customers' expectations
Customer service
Activities and benefits provided by a business to its customers to create goodwill and customer satisfaction
Touch points
All the opportunities that businesses have to connect with customers and reinforce their brand value
Customer-centric
Focused on customer needs and wants
Word-of-mouth promotion
Publicity for a business provided by customers who tell others of their satisfaction with the business
Organizational structure
The company's configuration of employees for accomplishing specific business tasks; how the business is organized
Customer loyalty
The customer's preference for a business; usually expressed in regular purchases from the business
Relationship buying
The purchases a customer makes because of a long-term relationship s/he has established with a business
Product development
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
Customer experience management
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
Customer relationship management
The strategies, processes, technology, and people a business uses to build, maintain, and maximize the long-term value of customer relationships
Corporate culture
The values and ideals that an organization encourages among its employees
Advocacy
Word-of-mouth promotion and referrals from a business's current customers to its potential customers