Latent demand refers to a want or need that is not currently being met due to a constraint such as a tight budget. Customer service involves satisfying customer demands through goods and services, and is important for attracting new customers and building lasting relationships that benefit the business. Customer relationship management is crucial for controlling customer acquisition, responding to inquiries to protect reputation, and increasing long-term profits from repeat customers.
Latent demand refers to a want or need that is not currently being met due to a constraint such as a tight budget. Customer service involves satisfying customer demands through goods and services, and is important for attracting new customers and building lasting relationships that benefit the business. Customer relationship management is crucial for controlling customer acquisition, responding to inquiries to protect reputation, and increasing long-term profits from repeat customers.
Latent demand refers to a want or need that is not currently being met due to a constraint such as a tight budget. Customer service involves satisfying customer demands through goods and services, and is important for attracting new customers and building lasting relationships that benefit the business. Customer relationship management is crucial for controlling customer acquisition, responding to inquiries to protect reputation, and increasing long-term profits from repeat customers.
1. Give me an Example of a Latent Demand and briefly explain it.
For instance, a brand-new Levi Ackerman nendoroid is a plastic
figurine with a large head and a little body. The figure is really what I want, but I don't have the money to buy it because it's so expensive, especially when you include in the shipping charges. I'm dealing with late demand, which suggests that I won't be able to fulfill my demands or wishes because of a tight budget. 2. Use your own words. Define what is Customer Service and its importance. Providing consumers with goods or services that satisfy their demands is considered customer service. The main goal of any business, especially one that depends on customers, is to keep them happy. Customer service is essential to a company's success because it attracts new clients and builds lasting relationships, both of which provide positive outcomes. Additionally, customers choose superior's requirements over those of rivals. 3. What is the importance of CRM (?) Customer relationship management plays a crucial role in controlling the customer acquisition activities. The organization must actively respond to customer inquiries in order to preserve its reputation for quality. Additionally, it boosts long-term profitability since satisfied customers are more inclined to make repeat purchases.