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The customer base is a group of customers who repeatedly purchase the goods or services of a business.These customers are a main source of revenue for a company. The customer base may be considered a business's target market, where customer behaviors are well understood through market research or past experience.
Impact assessment helps a business to understand how actions taken by the business affected their customer behavior, and also allow for some predictions of customer reaction to proposed changes. Customers as assets measures the lifetime value of the customer base and allows businesses to measure several factors such as the cost of acquisition ...
Customer data management (CDM) is the ways in which businesses keep track of their customer information and survey their customer base in order to obtain feedback. CDM includes a range of software or cloud computing applications designed to give large organizations rapid and efficient access to customer data .
This information is valuable as it provides demographic, behavioral, and value-based customer segmentation. These types of relationships can be both positive and negative. Some customers view themselves as friends of the brands, while others as enemies, and some are mixed with a love-hate relationship with the brand.
In the event that customer needs across the entire market are relatively similar, then the business may decide to use an undifferentiated approach. On the other hand, when customer needs are different across segments, then a differentiated (i.e. targeted) approach is warranted. In certain circumstances, the segmentation analysis may reveal that ...
Business-to-business (B2B or, in some countries, BtoB) refers to trade and commercial activity where a business sees other businesses as its customer base. This typically occurs when: A business sources materials for its production process for output (e.g., a food manufacturer purchasing salt), i.e. providing raw material to the other company ...
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