12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A customer value analysis is a complex approach that enables companies to obtain a detailed and quantified assessment of the value of customer relationships. It also enables companies to understand and measure the value contributions of existing customer relationships. Customer value analysis can also help quantify the impact of revenue and customer acquisition initiatives, pricing, and customer loyalty programs on customer value.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
An affiliate program is a sales program in which a company (the affiliate program) offers other companies (the affiliates) financial incentives for referring customers. The affiliates receive compensation when they generate a certain number of customers for the affiliate program.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Business administration (BWL) is the application of principles of economics to the issues of management and leadership of companies. It deals with the planning, organization, management and control of entrepreneurial activities. Business administration applies to companies of all sizes, from individual enterprises to multinational corporations. It also analyzes the influence of external factors such as economic policy, the business cycle, competition, technology and the international economy on a company.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A market niche is a small segment of a larger market that is tailored to a specific product or service. A company can focus on a market niche to meet specific customer needs that are not being met by other companies. It can also be a valuable strategy to protect a company from competitors.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Market positioning is a strategy used by companies to determine the position of their products compared to the products of their competitors. It involves analyzing the characteristics and position of the products compared to competitors and establishing a position in the market that focuses on unique values and characteristics that distinguish the product from others. The goal is to increase awareness and demand of the product among customers.