customer acquisition cost!

customer acquisition cost

Comprehensive Analysis

1) "Customer" -- As to customer acquisition cost cus·tom·er Pronunciation: 'k&s-t&-m&r Function: noun Etymology: Middle English custumer, from custume 1 : one that purchases a commodity or service 2 : an individual usually having some specified distinctive trait <a real tough customer> Pronunciation Symbols A customer is someone who makes use of or receives the products or services of an individual or organization. The word historically derives from "custom," meaning "habit"; a customer was someone who frequented a particular shop, who made it a habit to purchase goods there, and with whom the shopkeeper had to maintain a relationship to keep his or her "custom," meaning expected purchases in the future. Customer needs may be defined as the goods or services a customer requires to achieve specific goals. Different needs are of varying importance to the customer. Customer expectations are influenced by cultural values, advertising, marketing, and other communications, both with the supplier and with other sources. Both customer needs and expectations may be determined through interviews, surveys, conversations or other methods of collecting information. Customers at times do not have a clear understanding of their needs. Assisting in determining needs can be a valuable service to the customer. In the process, expectations may be set or adjusted to correspond to known product capabilities or service Customer service Market Customization Customer Reference Management Customer relationship management Customer value proposition ..." 2) "Acquisition" -- As to customer acquisition cost ac·qui·si·tion Pronunciation: "a-kw&-'zi-sh&n Function: noun Etymology: Middle English acquisicioun, from Middle French or Latin; Middle French acquisition, from Latin acquisition-, acquisitio, from acquirere 1 : the act of acquiring 2 : something or someone acquired or gained <the team announced two new acquisitions> - ac·qui·si·tion·al /-shn&l, -sh&-n&l/ adjective - ac·quis·i·tor /&-'kwi-z&-t&r/ noun Pronunciation Symbols Acquisition may refer to:a word In business: Acquisition (contract law), the process whereby the government procures things Customer acquisition, the process of gaining customers Mergers and acquisitions, a corporate strategy dealing with merging and acquiring different companies In computer science: Acquisition (software), a P2P software for Mac OS X Data acquisition, the sampling of the real world to generate data that can be manipulated by a computer In other fields: "Acquisition" (Enterprise episode), a first season episode of the television show Star Trek: Enterprise Acquisition (psychology), the process of learning Language acquisition, the process by which the language capability develops in a human ..." 3) "Cost" -- As to customer acquisition cost 1cost Pronunciation: 'kost Function: noun 1 a : the amount or equivalent paid or charged for something : PRICE b : the outlay or expenditure (as of effort or sacrifice) made to achieve an object 2 : loss or penalty incurred especially in gaining something 3 plural : expenses incurred in litigation; especially : those given by the law or the court to the prevailing party against the losing party - cost·less /-l&s/ adjective - cost·less·ly adverb - at all costs : regardless of the cost or consequences <was determined to win at all costs> - at cost : for the price of production <buys clothes at cost directly from the manufacturer> Pronunciation Symbols In economics, business, and accounting, a cost is the value of inputs that have been used up to produce something, and hence are not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production. Costs are often further described based on their timing or their applicability. 1 Accounting vs opportunity costs 2 Comparing Private, external, social and psychic costs 3 Cost estimates and cost overrun 4 References 5 Path Cost 6 See also Historical costs or accounting costs represent the total amount of money (or the monetary value of goods) spent. It is the amount denoted on invoices and recorded in bookkeeping records. Opportunity cost, also referred to as economic cost is the value of the best alternative that was not chosen in order to pursue the current endeavour--i.e., what could have been accomplished with the resources expended in the undertaking. It represents opportunities forgone. If a person has a job offer that pays $25 for an hour's work, and instead chooses to take a nap, then the accounting cost of the nap is zero; the person did not hand over any money in order to nap. However, the opportunity cost is the $25 that could have been earned working. In theoretical economics, cost used witho..." 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