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The term for the struggle between companies for customers is "market competition." This competition drives businesses to innovate, improve their products or services, and implement effective marketing strategies to attract and retain customers. It ultimately benefits consumers by providing them with better choices and prices.
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Is an external customer more important than an internal customer?
Both external and internal customers are crucial to an organization's success, but their importance can vary based on the context. External customers drive revenue and market presence, while internal customers (employees and departments) ensure that the organization operates smoothly and effectively. Prioritizing one over the other can lead to imbalances; a company that neglects its internal customers may struggle to meet external customer needs. Ultimately, a balanced approach that values both is essential for long-term success.
How does Personal selling start?
It is a process beginning with the sales representative identifying potential customers and potentially culminating in a long-term, mutually beneficial relationship between the seller and buyer
Why do companies that do not serve their customers well usually fail?
Companies that do not serve their customers well typically fail because they lose customer trust and loyalty, which are essential for repeat business and positive word-of-mouth. Poor customer service can lead to negative reviews and a damaged reputation, making it difficult to attract new customers. Additionally, in a competitive market, businesses that prioritize customer satisfaction often outperform those that do not, leading to a decline in market share for the latter. Ultimately, neglecting customer needs undermines a company's long-term success and viability.
Meaning of customer relationship management?
Customer relationship management (CRM) is a broad term that covers concepts used by companies to manage their relationships with customers, including the capture, storage and analysis of customer, vendor, partner, and internal process information.
What is difference between international business and marketing?
International business is a term used to collectively describe all commercial transactions (private and governmental, sales, investments, logistics,and transportation) that take place between two or more regions, countries and nations beyond their political boundary. Usually, private companies undertake such transactions for profit; governments undertake them for profit and for political reasons.It refers to all those business activities which involve cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources include capital, skills, people etc. for international production of physical goods and services such as finance, banking, insurance, construction etc.Marketing is defined by the AMA as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.It can also be defined for business to consumer marketing as "the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return". For business to business marketing, it can be defined as creating value, solutions, and relationships either short term or long term with a company or brand.
What is the term used when a struggle occurs between organisms for food water and energy when resources are limited?
Competition. The struggle of the fittest. The survival of the fittest.
Why compaines skeem customers?
These are companies that typically go for the short-term win (profit) and do not consider the consequences this has on long-term survivability. Thus, they lack little or no social responsibility.
What is the term for the average time it takes customers to pay?
The average time it takes for customers to pay is referred to as Days Sales Outstanding. Computing this ratio lets companies know how fast they are turning sales into cash.
Are there any companies that give free term life insurance quotes?
Most major companies provide free term life quotes. This makes business sense for them because they don't want to drive potential customers away before they can sign up for their company's products.
What is the practice of sending e-mails to customers or potential customers of a legitimate website asking them to click a link in the e-mail?
The general term is "spamming. However, for customers the correct term is "clickbait". For potential customers the correct term is "unsolicited mail".
What is debt counseling?
debt counseling is If you are having problems keeping up with and paying your bills, you may be in the need of debt counseling. There are many debt counseling companies that give advice, usually for a fee but some offer free counseling, to individuals and companies who struggle with their short term and long term financial obligations.
Which term refers to the 11th century power struggle between Pope Gregory VII and King Henry IV regarding the appointments of church officials?
The term is the Investiture Controversy,
What is the Arabic term that stands for one's inner struggle against the forces of ungodliness?
The Arabic term for one's inner struggle against the forces of ungodliness is "Jihad." This term can refer to the internal spiritual struggle to maintain faith and righteousness, as well as to the external struggle to defend Islam and its values.
Why are suppliers interested about the business?
It is in the best interest of suppliers if the companies that they sell to do well. Many suppliers attempt to create long-term relationships with customers in order to get repeat business. The better their regular customers perform, the more likely the suppliers are to get repeat business.
What does struggle mean in a scientific term?
survival
What is meant by the term disintermediation?
Disintermediation when you "cut out the middle man". In other words, disintermediation occurs when a company cuts out the companies in between them and the company they are supplying, like transportation companies or packing companies.
What is the term for the average time it takes for customers to pay you?
The term for the average time it takes for customers to pay you is the average collection period.
