DETERMINE CUSTOMER REQUIREMENTS FOR ICT SYSTEMS AND SUPPORT SERVICES AIM OF THE LESSON To determine who a customer is To determine customer requirements To determine steps to determining customer requirements To determine reasons for determining customer requirements To document customer requirement DEFINITION OF CUSTOMER A customer is anybody who has the right to demand for goods or services either internal or external DETERMINING CUSTOMER REQUIREMENT This is a systematic
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Customers will buy from the firm that they see as offering the highest perceived value . Customer perceived value (CPV) is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives. Total customer value is the perceived monetary value of the bundle or economic‚ functional‚ and psychological benefits customers expect from a given market offering. Total customer cost is the bundle of costs customers expect to
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How Distribution Is Arranged To Provide Customer Convenience? There are several ways in which businesses arrange distribution to provide customer convenience. The methods used may vary slightly based on what sort of business is being operated. For example‚ those who are running an e-commerce business will have different techniques than those who have a standard "real world" business headquarters. Also‚ different real world businesses may have different techniques dependent upon the size of the
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CUSTOMER LIFETIME VALUE: MARKETING MODELS AND APPLICATIONS Paul D. Berger Nada I. Nasr ABSTRACT Customer lifetime value has been a mainstay concept in direct response marketing for many years‚ and has been increasingly considered in the field of general marketing. However‚ the vast majority of literature on the topic (a) has been dedicated to extolling its use as a decisionmaking criterion; (b) has presented isolated numerical examples of its calculation/determination; and (c) has considered
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Automated Customer Service: Advantages Outweigh Disadvantages The marketplace in the world today is more competitive than ever before. Businesses are trying to increase profits and lower operating costs. Stockholders are insisting that companies make money‚ thus increasing their stock portfolios. Consumers are busier than at any point in the history of man. They work longer hours and try to squeeze more extracurricular activities into their evenings. Into this arena has come the automated customer
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wants of customers. Apple Inc. had always had their unparallel ways of marketing and advertising their products‚ which too are set apart from every other brand in their own unique styles. Marketers usually market ten types of entities: Goods: These are physical goods that may be manufactured or produced. In case of Apple products‚ the goods that they market are iPhone‚ iPad‚ Macbook‚ etc. Services: These are the intangible products that involve performing some services for the customers. A service
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Geographic It is in Bose’s best interest to pursue geographical areas such as suburbs and big cities. Customers in rural areas wouldn’t have the access to go to a Bose store‚ but could still order the products online if they are interested in purchasing. Since the emergence of e-commerce‚ it is possible to reach all areas of the globe via web-interface. It is possible to not only reach a broader market‚ but to do so at a relatively low cost. The overhead costs from distribution are greatly reduced
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in determining the cost of serving customers and as a basis for evaluating the profitabilty of a specific customer or group of customers. Why is this important? Most managers agree that 80% of their profits come from the top 20% of their customers and most important‚ the bottom 20% of their customers are unprofitable. For example‚ to compete with Walmart‚Best Buy works hard to attract profitable customers and equally hard to discourage the unprofitable customers which those that are price shopping
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and highly complex environment characterize by diminishing customer loyalty‚ the need to be market –focused and customer centric is more critical than any other time in past. It is highly imperative for every organization to retain and use valuable information about their customer to enhance their business strategies and product and service offerings. Today‚ the key focus area of much organization is identification of a link between customer satisfaction and performance. However‚ satisfaction as the
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Customers are attracted to a business by many factors but the most important ones are product value‚ product suitability‚ and product function. The factors here that apply to McDonalds are mostly product value and maybe product suitability. Customers are bothered about how much McDonalds charge them for the burgers‚ because if McDonalds charge too high then people would not be attracted to McDonalds. E.g. a burger for $4. However‚ on contrast if you charge too low then people would think your product
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