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Consumer Base
The customer base is a group of customers who repeatedly purchase the goods or services of a business. These customers are a main source of revenue for a company. The customer base may be considered a business's target market, where customer behaviors are well understood through market research or past experience. Relying on a customer base can make growth and innovation difficult. Companies with a customer base consisting mainly of large companies may increase their customer base by pursuing small and mid-size companies. Legal issues From a legal point of view, the customer base is an accessible collection of confidential data on entities buying goods or using services of a particular entrepreneur, actually or contractually related to that entrepreneur (customers), of measurable economic value, enabling the conclusion or execution of contracts with those customers. Customer base within this meaning generally satisfies the conditions for recognizing it as a type of non-technical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Customers
In sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product, or an idea, obtained from a seller, vendor, or supplier via a financial transaction or an exchange for money or some other valuable consideration. Etymology and terminology Early societies relied on a gift economy based on favours. Later, as commerce developed, less permanent human relations were formed, depending more on transitory needs rather than enduring social desires. Customers are generally said to be the purchasers of goods and services, while clients are those who receive personalized advice and solutions. Although such distinctions have no contemporary semantic weight, agencies such as law firms, film studios, and health care providers tend to prefer '' client'', while grocery stores, banks, and restaurants tend to prefer ''customer'' instead. Client The term client is derived from Latin ''clients'' or ''care'' m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for profit." A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired except for limited liability company. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. A distinction is made in law and public offices between the term business and a company (such as a corporation or cooperative). Colloquially, the terms are used interchangeably. Corporations are distinct from Sole proprietorship, sole proprietors and partnerships. Corporations are separate and unique Legal person, legal entities from their shareholde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Target Market
A target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind. This may involve carrying out additional consumer research in order to gain deep insights into the typical consumer's motivations, purchasing habits and media usage patterns. The choice of a suitable target market is one of the final steps in the market segmentation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Market Research
Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data. It includes social and opinion research, and is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. Market research, marketing research, and marketing are a sequence of business activities; sometimes these are handled informally. The field of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Innovation
Innovation is the practical implementation of ideas that result in the introduction of new goods or service (economics), services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity, realizing or redistributing value (economics), value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies. Innovation often takes place through the development of more-effective product (business), products, processes, Service (economics), services, technologies, art works or business models that innovators make available to Market (economics), markets, governments and society. Innovation is related to, but not the same as, ''invention'': innovation is more apt to involve the practical implementation of an invention (i.e. new / improved ability) to make a meaningful impact in a market or society, and not all innovations requir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Entrepreneurship
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entrepreneur () is an businessperson, individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as "entrepreneurship". The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, often similar to a small business, or (per ''Business Dictionary'') as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a Profit (accounting), profit". The people who create these businesses are often referred to as "e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Know-how
Procedural knowledge (also known as know-how, knowing-how, and sometimes referred to as practical knowledge, imperative knowledge, or performative knowledge) is the knowledge exercised in the performance of some task. Unlike descriptive knowledge (also known as declarative knowledge, propositional knowledge or "knowing-that"), which involves knowledge of specific facts or propositions (e.g. "I know that snow is white"), procedural knowledge involves one's ability to ''do'' something (e.g. "I know how to change a flat tire"). A person does not need to be able to verbally articulate their procedural knowledge in order for it to count as knowledge, since procedural knowledge requires only knowing how to correctly perform an action or exercise a skill. The term ''procedural knowledge'' has narrower but related technical uses in both cognitive psychology and intellectual property law. Overview Procedural knowledge (i.e., knowledge-how) is different from descriptive knowledge (i.e., ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Startup Company
A startup or start-up is a company or project undertaken by an Entrepreneurship, entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship includes all new businesses including self-employment and businesses that do not intend to Initial public offering, go public, startups are new businesses that intend to grow large beyond the solo-founder. During the beginning, startups face high uncertainty and have high rates of failure, but a minority of them do go on to become successful and influential, such as unicorn (finance), unicorns.Erin Griffith (2014)Why startups fail, according to their founders, Fortune.com, 25 September 2014; accessed 27 October 2017 Actions Startups typically begin by a founder (solo-founder) or co-founders who have a way to solve a problem. The founder of a startup will do the market validation by problem interview, solution interview, and building a minimum viable product (MVP), i.e. a prototype, to develop and validate thei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Xerox
Xerox Holdings Corporation (, ) is an American corporation that sells print and electronic document, digital document products and services in more than 160 countries. Xerox was the pioneer of the photocopier market, beginning with the introduction of the Xerox 914 in 1959, so much so that the word ''xerox'' is commonly used as a synonym for ''photocopy''. Xerox is headquartered in Norwalk, Connecticut, though it is incorporated in New York (state), New York with its largest group of employees based around Rochester, New York, the area in which the company was founded. As a large developed company, it is consistently placed in the list of Fortune 500 companies. The company purchased Affiliated Computer Services for $6.4 billion in early 2010. On December 31, 2016, Xerox separated its business process service operations, essentially those operations acquired with the purchase of Affiliated Computer Services, into a new publicly traded company, Conduent. Xerox focuses on its docu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Kleenex
Kleenex is a brand name primarily known for their line of facial tissues. Often used informally as a genericized trademark for facial tissue, ''Kleenex'' is a registered trademark of Kimberly-Clark applied to products made in 78 countries. The brand has other paper products like Paper napkin, napkins and toilet roll. History Kleenex began during the First World War when the Cellucotton company developed a crepe paper gas mask filter. In the 1920s, the product was modified into the menstrual pad Kotex. A further modification of the original crepe paper made it thinner and softer, and the resultant 1924 product was called "Kleenex" and marketed as a cold cream remover. In line with the company's requirements for their brand names to be short, easy to say, and easy to explain, the name Kleenex was selected as the "Kleen" portion of the name denotes its cleansing purpose with a sensational spelling of the word "clean". The "ex" was added to show that Kleenex was of the family of pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
