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Customer-driven
In marketing and quality management, the voice of the customer (VOC) summarizes customers' expectations, preferences and aversions. A widely used form of customer's voice market research produces a detailed set of customer wants and needs, organized into a hierarchical structure, and then prioritized in terms of relative importance and satisfaction with current alternatives. VOC studies typically consist of both qualitative and quantitative research steps and are generally conducted at the start of any new product, process, or service design initiative in order to better understand the customer's wants and needs, and as the key input for new product definition, quality function deployment (QFD), and the setting of detailed design specifications. Data gathering Much has been written about this process, and there are many possible ways to gather the information – focus groups, individual interviews, contextual inquiry, ethnographic techniques, conjoint analysis, etc. All invo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce. Marketing is usually conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses (B2B Marketing, B2B) or directly to consumers (B2C). Sometimes tasks are contracted to dedicated marketing firms, like a Media agency, media, market research, or advertising agency. Sometimes, a trade association or government agency (such as the Agricultural Marketing Service) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk?), food from a specific area, or a city or region as a tourism destination. Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to adverti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quality Management
Total quality management, Total Quality management (TQM), ensures that an organization, product, or service consistently performs as intended, as opposed to Quality Management, which focuses on work process and procedure standards. It has four main components: quality planning, quality assurance, quality control, and quality improvement. Customers recognize that quality is an important attribute when choosing and purchasing products and services. Suppliers can recognize that quality is an important differentiator of their offerings, and endeavor to compete on the quality of their products and the service they offer. Thus, quality management is focused both on product and service quality. Advancement In earlier periods, arts and crafts were led by Master craftsman, master craftspeople or artists who supervised studios, trained apprentices, and oversaw the product development process. With the advent of the Industrial Revolution, steam engines, and mass production, the role of crafts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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] |
Focus Group
A focus group is a group interview involving a small number (sometimes up to ten) of demographically predefined participants. Their reactions to specific researcher/evaluator-posed questions are studied. Focus groups are used in market research to better understand people's reactions to products or services or participants' perceptions of shared experiences. The discussions can be guided or open. In market research, focus groups can explore a group's response to a new product or service. As a program evaluation tool, they can elicit lessons learned and recommendations for performance improvement. The idea is for the researcher to understand participants' reactions. If group members are representative of a larger population, those reactions may be expected to reflect the views of that larger population. Thus, focus groups constitute a research or evaluation method that researchers organize to collect qualitative data through interactive and directed discussions. A focus group is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contextual Inquiry
Contextual inquiry (CI) is a user-centered design (UCD) research method, part of the contextual design methodology. A contextual inquiry interview is usually structured as an approximately two-hour, one-on-one interaction in which the researcher watches the user in the course of the user's normal activities and discusses those activities with the user. Description Contextual inquiry defines four principles to guide the interaction: * Context— Interviews are conducted in the user's actual workplace. The researcher watches users do their own work tasks and discusses any artifacts they generate or use with them. In addition, the researcher gathers detailed re-tellings of specific past events when they are relevant to the project focus. * Partnership—User and researcher collaborate to understand the user's work. The interview alternates between observing the user as he or she works and discussing what the user did and why. * Interpretation—The researcher shares interpretations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conjoint Analysis
Conjoint analysis is a survey-based statistical technique used in market research that helps determine how people value different attributes (feature, function, benefits) that make up an individual product or service. The objective of conjoint analysis is to determine the influence of a set of attributes on respondent choice or decision making. In a conjoint experiment, a controlled set of potential products or services, broken down by attribute, is shown to survey respondents. By analyzing how respondents choose among the products, the respondents' valuation of the attributes making up the products or services can be determined. These implicit valuations (utilities or part-worths) can be used to create market models that estimate market share, revenue and even profitability of new designs. Conjoint analysis originated in mathematical psychology and was developed by marketing professor Paul E. Green at the Wharton School of the University of Pennsylvania. Other prominent conjoint ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Development
New product development (NPD) or product development in business and engineering covers the complete process of launching a new product to the market. Product development also includes the renewal of an existing product and introducing a product into a new market. A central aspect of NPD is product design. New product development is the realization of a market opportunity by making a product available for purchase. The products developed by an commercial organisation provide the means to generate income. Many technology-intensive organisations exploit technological innovation in a rapidly changing consumer market. A product can be a tangible asset or intangible. A service or user experience is intangible. In law, sometimes services and other processes are distinguished from "products". NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market. Cost, time, and quality are the main variables that drive customer needs. Ai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
APICS
The Association for Supply Chain Management (ASCM) is a not-for-profit international educational organization offering certification programs, training tools, and networking opportunities to increase workplace performance. Formed in 1957, it was originally known as the "American Production and Inventory Control Society" or APICS. The mission of the organization is to advance end-to-end supply chain management. APICS merged with the Supply Chain Council in 2014, and the American Society of Transportation and Logistics in 2015. In 2018, APICS renamed itself ASCM. History In 1957, 20 production control managers from various industries formed the American Production and Inventory Control Society. The organization later became an international association known as APICS. The organization offers certification programs, training tools, and networking opportunities for the purpose of increasing workplace performance in supply chain. The Supply Chain Council (SCC) merged into APICS o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sentiment Analysis
Sentiment analysis (also known as opinion mining or emotion AI) is the use of natural language processing, text analysis, computational linguistics, and biometrics to systematically identify, extract, quantify, and study affective states and subjective information. Sentiment analysis is widely applied to voice of the customer materials such as reviews and survey responses, online and social media, and healthcare materials for applications that range from marketing to customer service to clinical medicine. With the rise of deep language models, such as RoBERTa, also more difficult data domains can be analyzed, e.g., news texts where authors typically express their opinion/sentiment less explicitly.Hamborg, Felix; Donnay, Karsten (2021)"NewsMTSC: A Dataset for (Multi-)Target-dependent Sentiment Classification in Political News Articles" "Proceedings of the 16th Conference of the European Chapter of the Association for Computational Linguistics: Main Volume" Simple cases * "Coron ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ITIL
ITIL (previously and also known as Information Technology Infrastructure Library) is a framework with a set of practices (previously processes) for IT activities such as IT service management (ITSM) and IT asset management (ITAM) that focus on aligning IT services with the needs of the business. ITIL describes best practices, including processes, procedures, tasks, and checklists which are neither organization-specific nor technology-specific. It is designed to allow organizations to establish a baseline and can be used to demonstrate compliance and to measure improvements. There is no formal independent third-party compliance assessment available to demonstrate ITIL compliance in an organization. Certification in ITIL is only available to individuals and not organizations. Since 2021, the ITIL trademark has been owned by PeopleCert. History Responding to growing dependence on IT, the UK Government's Central Computer and Telecommunications Agency (CCTA) in the 1980s develo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
