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Monetary = the highest value of all purchases by the customer expressed in relation to some benchmark value For example, if the monetary benchmark allocated a score of 10 to annual spend over $500, for a customer who had made three purchases in the last year, the most recent being 3 months ago, and spent $600 in the year, their scores would be ...
A unit of account [1] is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt.
Customer lifetime value can also be defined as the monetary value of a customer relationship, based on the present value of the projected future cash flows from the customer relationship. [1] Customer lifetime value is an important concept in that it encourages firms to shift their focus from quarterly profits to the long-term health of their ...
Total quality management (TQM) is an organization-wide effort to "install and make a permanent climate where employees continuously improve their ability to provide on-demand products and services that customers will find of particular value."
In economics, gross output (GO) is a measure of the value of production of new goods and services during an accounting period.Gross output represents the total value of sales by producing enterprises (their gross revenue or turnover) in an accounting period (a quarter or a year), before subtracting the value of intermediate goods used up in production from the value of sales.
Major value factors (from which the value hierarchy is developed) include the following direct customer value: benefits to customers/clients, e.g. convenient access, product enhancement social: benefits to society as a whole, e.g. reducing CO 2 emissions
Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. Value may also be expressed as a straightforward relationship between perceived benefits and perceived costs: Value = Benefits - Cost .
This means that the focus of the analysis will be concentrated on those processes that relate to the added-value activities that the model categorizes as Make processes. Level 2 includes 3 sub-processes that are children of the Make parent. These children have a special tag: a letter (M) and a number (1, 2, or 3). This is the syntax of the SCOR ...