Blog

The term "voice of the customer" (VOC) refers to the in-depth process of recording customers' expectations, preferences, and aversions in business and information technology. What is it?They are typically carried out at the outset of any new product, process, or service design initiative in order to better understand the customer's wants...

A mission statement is a brief statement that explains why an organization exists, what its ultimate aim is, and identifies the goal of its operations: what sort of product or service it offers, who its major consumers or market is, and where it operates geographically. It may comprise a brief...

A vision statement is an inspiring declaration about a company's or group's utopian emotional future. Vision expresses the underlying human feeling that a founder want to be felt by the individuals with whom the organization interacts; it roots the group so that it may have some existential influence on the...

C2B is a business paradigm in which consumers (individuals) generate value and enterprises consume that value. For example, if a customer writes reviews or provides a helpful suggestion for new product development, that consumer is producing value for the firm if the input is used. What is it?A reverse auction or...

Database marketing is a type of direct marketing that uses customer or potential customer databases to produce tailored messages in order to advertise a product or service. As with direct marketing, the mode of communication might be any addressable media.What is it?The contrast between direct and database marketing derives largely...

The act or activity of writing text for the purpose of advertising or other types of marketing is known as copywriting. The product, also known as copy or sales copy, is written material that attempts to raise brand recognition and eventually persuade an individual or group to perform a specific...

In finance, valuation is the process of calculating an asset's present value (PV). Valuations can be performed on either assets or liabilities. Valuations are required for a variety of purposes, including investment analysis, capital planning, merger and acquisition transactions, financial reporting, and taxable events to calculate the appropriate tax responsibility.What...

Feedback happens when a system's outputs are routed back as inputs as part of a cause-and-effect chain that creates a circuit or loop. The system is considered to feed back on itself at this point. When it comes to feedback systems, the concept of cause-and-effect must be handled with caution.What...

A white paper is a report or guide that teaches readers on a complicated problem in a simple manner and communicates the issuing body's stance on the subject. It is intended to assist readers in understanding an issue, solving a problem, or making a choice.What is it?This sort of paper...