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A lead time is the latency between the initiation and completion of a process. For example, the lead time between the placement of an order and delivery of new cars by a given manufacturer might be between 2 weeks and 6 months, depending on various particularities.
The self-discrepancy theory states that individuals compare their "actual" self to internalized standards or the "ideal/ought self". Inconsistencies between "actual", "ideal" (idealized version of yourself created from life experiences) and "ought" (who persons feel they should be or should become) are associated with emotional discomforts (e.g., fear, threat, restlessness).
Demand forecasting is the prediction of the quantity of goods and services that will be demanded by consumers at a future point in time. [1] More specifically, the methods of demand forecasting entail using predictive analytics to estimate customer demand in consideration of key economic conditions.
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Moment of truth (MOT) in marketing, is the moment when a customer/user interacts with a brand, product or service to form or change an impression about that particular brand, product or service. In 2005, A. G. Lafley , Chairman, President & CEO of Procter & Gamble coined two "Moments of Truth". [ 1 ]
In October 2023, Wired reported that a sample of data points from 23andMe accounts were exposed on BreachForums, a black-hat hacking crime forum. [1]23andMe confirmed to TechCrunch that because of an opt-in feature that allows DNA-related relatives to contact each other, the true number of people exposed was 6.9 million, nearly half of 23andMe’s 14 million reported customers.
Customer lifetime value: The present value of the future cash flows attributed to the customer during his/her entire relationship with the company. [2] Present value is the discounted sum of future cash flows: each future cash flow is multiplied by a carefully selected number less than one, before being added together.
The core product is defined as the benefit that the product brings to the customer. The actual product refers to the tangible object and relates to the physical quality and the design. [4] The augmented product consists of the measures taken to help the consumer put the actual product to use. [1]