The product life cycle describes the various phases that a product goes through in the market - from market launch to growth, maturity and saturation through to decline. Each phase brings with it different challenges and strategies, for example in terms of marketing, pricing or further development. Analysing the life cycle helps companies to manage products in a targeted manner and introduce innovations in good time.
Customer experience (CX) describes the entire experience that customers have with a company across all contact points - from the first interaction to after-sales service. A positive CX is created through consistent communication, user-friendly processes and emotional loyalty. The aim is to increase customer satisfaction and build long-term relationships.
The Net Promoter Score (NPS) is a key figure for measuring customer satisfaction and loyalty. It is based on the question of how likely it is that customers would recommend a company to others - on a scale of 0 to 10. Depending on the answer, respondents are categorised into promoters, passives and detractors. The NPS results from the proportion of promoters minus the proportion of detractors.
Business intelligence (BI) comprises methods, technologies and processes for collecting, analysing and presenting company data. The aim is to make well-founded decisions based on facts and trends. BI tools help to visualise large amounts of data, identify patterns and derive strategic recommendations for action.
A service level agreement (SLA) is a contractual agreement between the service provider and customer that defines specific services as well as their quality and availability. Typical contents include response times, key performance indicators (KPIs), responsibilities and measures in the event of non-compliance. SLAs create transparency, set clear expectations and serve as a basis for measuring service quality.
Mergers & Acquisitions (M&A) stands for mergers and takeovers of companies. The term covers all processes in which companies are bought, sold or merged in whole or in part. The aim of M&A activities is usually growth, market access, synergy effects or strategic realignment. The M&A process requires careful planning, due diligence and negotiations in order to minimise economic and legal risks.
Key account management (KAM) refers to the strategic support and development of a company's most important customers - the so-called key customers. The aim of KAM is to build long-term business relationships, offer customised solutions and create added value together through close collaboration. Key account managers act as the central point of contact and coordinate internal processes in order to optimally fulfil the specific requirements of customers.
Intangible assets are intangible assets of a company that have no physical existence but nevertheless represent a significant economic value. These include brands, patents, copyrights, licences, software and trade secrets. They also include customer relationships and goodwill. Intangible assets are often difficult to value, but play a key role in differentiating a company in the market and building long-term competitive advantages.
Tangible assets are physically existing assets of a company that are tangible and have a measurable economic value. These include, for example, machinery, buildings, vehicles, land or inventories. Tangible assets differ from intangible assets such as brands, patents or software licences. They play a central role in accounting, investment decisions and often serve as collateral for loans.