Discuss customer intimacy. Why is it important? Provide an example of a company that successfully abides by this value discipline

What will be an ideal response?


Student answers will vary. A company provides superior value by precisely segmenting its markets and tailoring its products or services to match exactly the needs of targeted customers. It specializes in satisfying unique customer needs through a close relationship with and intimate knowledge of the customer. It builds detailed customer databases for segmenting and targeting, and empowers its marketing people to respond quickly to customer needs. Customer-intimate companies serve customers who are willing to pay a premium to get precisely what they want. They will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Examples include Nordstrom, Lexus, American Express, British Airways, and Ritz-Carlton hotels.

Business

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A clerk reorders 250 items when the inventory falls below 25 items. This is an example of __________________________

Fill in the blank(s) with correct word

Business

The standard deviation is a better measure of risk than the coefficient of variation if the expected returns of the securities being compared differ significantly.

Answer the following statement true (T) or false (F)

Business

A suspect cannot be tried twice in the same court for the same crime

Indicate whether the statement is true or false

Business

What is the goal of the Superfund?

A)To create a market-based system for reducing emmissions B)To set national ambient air quality standards C)To clean up hazardous wastes that were illegally dumped in the past D)To require shipowners to pay for damage caused by oil discharged from their ships

Business