Category: Definitions

A tax return is a document that taxpayers file with the Internal Revenue Service (IRS) to report their income, deductions, and credits for a given...

A return is when a customer returns an item to a business for a refund or exchange. Returns can happen for a variety of reasons,...

Complaint handling is the process of responding to and resolving customer complaints. It is an important part of customer service, as it can help to...

Customer service is the interaction between a business and its customers. It includes all of the ways that a business communicates with its customers, from...

A target market is a specific group of people that a business markets its products or services to1. They are the people who are most likely to buy...

A sales funnel is a visual representation of the customer journey, from awareness to action. It helps businesses to understand how potential customers move through...

Market research is the process of gathering and analyzing information about a market, its customers, and its competitors. It is used to help businesses make...

Customer acquisition is the process of attracting new customers to a business. It is a critical function for any business that wants to grow and...

Business development is the process of identifying, evaluating, and pursuing new business opportunities. It is a critical function for any business that wants to grow...

A personal loan is a type of loan that is not secured by collateral. This means that the lender does not have any assets that...

A mortgage is a loan that is used to purchase a home. The borrower agrees to make monthly payments to the lender, including principal and...

A debit card is a payment card that deducts money directly from your checking account1. Also called “check cards” or “bank cards,” debit cards can be used to buy...