As the Business World Increasingly Shifts from Product Focus to Customer

question 66

Multiple Choice

As the business world increasingly shifts from product focus to customer focus, why are most organizations treating existing customers better than in the past?

• A) Existing customers are the best source of profitable and sustainable revenue growth.
• B) In the age of ebusiness, an organization is guaranteed a favorable customer base and satisfying them is easier than ever.
• C) Organizations cannot depend on using statistical analysis or value formulas such as recency, frequency, and monetary to gain insight into customer behavior or buying patterns.
• D) Placing customers at the forefront of all thinking and decision making requires very little operational and technology changes.

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Definitions:

Performance Effectiveness

A measure of how well individuals or organizations achieve their goals and objectives.

Performance Appraisals

The systematic evaluation of an employee's job performance and productivity in relation to certain pre-established criteria and organizational objectives.

Self-managing Work Teams

Groups of employees who are provided with the autonomy to plan, execute, and control their work without direct supervision.

Job Duties

The tasks and responsibilities assigned to an employee as part of their role within an organization.