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Explain Why and How a Company Would Adopt a Customer

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Essay

Explain why and how a company would adopt a customer orientation.


Definitions:

Social Networking

A platform or system of digital channels that enables individuals to create, share, or exchange information, ideas, and images/videos in virtual communities and networks.

Yield Management Pricing

Charging different prices to maximize revenue for a set amount of capacity at any given time.

Dynamic Pricing

The practice of changing prices for products and services in real time in response to supply and demand conditions.

Supply and Demand

Economic principles describing how the availability of goods (supply) and the desire for them (demand) affect their price.

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