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Customer dynamics is an emerging theory on customer-business relationships that describes the ongoing interchange of information and transactions between customers and organizations. These exchanges occur over a wide range of communication channels, such as phone, email, Web and text, including those outside of organizational control like ...
Customer relationship management (CRM) is a process in which a business or another organization administers its interactions with customers, ...
Transactional emails are usually triggered based on a customer's action with a company. To be qualified as transactional or relationship messages, these communications' primary purpose must be "to facilitate, complete or confirm a commercial transaction that the recipient has previously agreed to enter into with the sender" along with a few ...
In another categorization, Crié and Micheaux (2006) divide customer knowledge into two types, namely: "behavioural" (or quantitative) and "attitudinal" (or qualitative). Behavioral knowledge is easy to acquire and is basically quantitative by nature; that is, containing customer transactional relationship with the company.
Relationship marketing refers to an arrangement where both the buyer and seller have an interest in a more satisfying exchange. This approach aims to transcend the post-purchase-exchange process with a customer in order to make richer contact by providing a more personalised purchase, and using the experience to create stronger ties.
Customer relationship management: Acknowledging the social and relational aspects—especially those embedded in services—it has been argued that firms can increase retention by focusing on managing customer relationships. Relationship management occurs when firms can take a longer-terms perspective, rather than a transactional perspective to ...
A transaction account is a bank account that provides individuals with immediate access to money. Transaction accounts have full liquidity to pay bills and make everyday purchases. What Type of...
These documents such as bank statements, statements of account, invoices, and other customer transactional documents were viewed as ideal customer touchpoints to promote company products to customers. Transactional documents are opened and read by more than 90% of consumers. [4]