Describe Problem Framing

question 15

Essay

Describe problem framing.

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Definitions:

CRM Program

A strategy and software system designed to manage a company’s interactions with current and potential customers, aiming to improve business relationships.

Lifetime Value

The total revenue a business can expect from a single customer throughout the duration of their relationship.

Customer Equity

The total combined customer lifetime values of all the company’s customers, representing the financial value of the customer base.

Customer Service Strategy

A plan designed to improve how a business interacts with its customers, aiming to enhance satisfaction and loyalty.