What Is the Benefit of Making a Customer Journey Map

question 62

Essay

What is the benefit of making a customer journey map?

Define and determine fixed, variable, semi-variable, and step costs.

Understand sales mix and its impact on composite unit calculations.

Understand the concept and calculation of the break-even point.

Comprehend the role and application of sensitivity analysis in cost-volume-profit (CVP) analysis.

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Definitions:

Target Market

A rephrased term for a specific segment of consumers identified as the intended recipients of a marketing message or campaign.

Market Segments

Market Segments are distinct groups of customers within a market who share similar characteristics and needs.

Internet

A global network of interconnected computers and servers that allows for the exchange of data and information across vast distances.

Segment Attractiveness

An assessment of the potential profitability and success of a specific market segment, based on factors like size, growth, competition, and alignment with the company's capabilities.