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Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing , site selection , and customer relationship management .
The situation analysis looks at both the macro-environmental factors that affect many firms within the environment and the micro-environmental factors that specifically affect the firm. The purpose of the situation analysis is to indicate to a company about the organizational and product position, as well as the overall survival of the business ...
For example, through the analysis of a customer base's buying behavior, a company might see that this customer base has not been buying a lot of products recently. After reviewing their data, the company might think to market to this subset of consumers differently to best communicate how this company's products might benefit this group ...
Market environment and business environment are marketing terms that refer to factors and forces that affect a firm's ability to build and maintain successful customer relationships. The business environment has been defined as "the totality of physical and social factors that are taken directly into consideration in the decision-making ...
Customer experience: Adding to the other two factors some recognition of the importance of providing an emotionally positive experience to customers. Authenticity: This is the most mature stage for companies. Products and services emerge from the real soul of the brand and connect naturally with clients and other stakeholders, for a long-term.
The perception of success of the customer service interactions is dependent on employees "who can adjust themselves to the personality of the customer". [2] Customer service is often practiced in a way that reflects the strategies and values of a firm. Good quality customer service is usually measured through customer retention.
Context analysis is a method to analyze the environment in which a business operates. Environmental scanning mainly focuses on the macro environment of a business. But context analysis considers the entire environment of a business, its internal and external environment. This is an important aspect of business planning.
The 3Cs model points out that a business strategist should focus on three key factors for success. In the construction of a business strategy, three main elements must be taken into account: The Company; The Customers; The Competitors; Only by integrating these three can a sustained competitive advantage exist.