The Process of Systematically Creating the Optimum Experience for Customers

question 26

Multiple Choice

The process of systematically creating the optimum experience for customers every time they interact with the company is ________.

• A)total quality management (TQM)
• B)time compression management (TCM)
• C)customer experience management (CEM)
• D)guerilla marketing

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Definitions:

Negative Cross Elasticity

A situation where the demand for one product decreases as the price of another product decreases, indicating complementary goods.

Income Inelastic

Describes a good or service whose demand does not significantly change with a change in consumers' income.

Small Firms

Businesses with a relatively small number of employees or low volume of sales compared to larger industry players.