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Service Recovery
Service recovery is an organization's resolution of problems from dissatisfied customers, converting those customers into loyal customers. It is the action a service provider takes in response to service failure. By including customer satisfaction in the definition, service recovery is a thought-out, planned process of returning aggrieved/dissatisfied customers to a state of satisfaction with an organization/service. Service recovery differs from complaint management in its focus on immediate reaction to service failures. Complaint management is based on customer complaints, which, in turn, may be triggered by service failures. But since most dissatisfied customers are reluctant to complain, service recovery attempts to solve problems at the service encounter before customers complain or before they leave the service encounter dissatisfied. Both complaint management and service recovery are customer retention strategies. Researchers recently proved that strategies such as value co-c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer
In sales, commerce, and economics, a customer (sometimes known as a Client (business), client, buyer, or purchaser) is the recipient of a Good (economics), good, service (economics), service, product (business), product, or an Intellectual property, idea, obtained from a seller, vendor, or distribution (business), supplier via a financial transaction or exchange (economics), an exchange for money or some other valuable consideration. Etymology and terminology Early societies relied on a gift economy based on favours. Later, as commerce developed, less permanent human relations were formed, depending more on transitory needs rather than enduring social desires. Customers are generally said to be the purchasers of goods and services, while clients are those who receive personalized advice and solutions. Although such distinctions have no contemporary semantic weight, Employment agency, agencies such as law firms, film studios, and health care providers tend to prefer '':wikt:clien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Loyalty
In marketing and consumer behaviour, brand loyalty describes a consumer's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor's actions, or changes in the market environment. It's also demonstrated with behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. In a business-to-business context, the term source loyalty is also used.Wind, Y.Industrial Source Loyalty ''Journal of Marketing Research'', Volume 7, No. 4 (November 1970), pp. 450-457, accessed on 22 January 2025 Loyalty implies dedication and should not be confused with habit, its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Failure
Failure is the social concept of not meeting a desirable or intended objective, and is usually viewed as the opposite of success. The criteria for failure depends on context, and may be relative to a particular observer or belief system. One person might consider a failure what another person considers a success, particularly in cases of direct competition or a zero-sum game. Similarly, the degree of success or failure in a situation may be differently viewed by distinct observers or participants, such that a situation that one considers to be a failure, another might consider to be a success, a qualified success or a neutral situation. It may also be difficult or impossible to ascertain whether a situation meets criteria for failure or success due to ambiguous or ill-defined definition of those criteria. Finding useful and effective criteria or heuristics to judge the success or failure of a situation may itself be a significant task. Sociology Cultural historian Scot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Satisfaction
Customer satisfaction is a term frequently used in marketing to evaluate customer experience. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified Contentment, satisfaction goals".. Enhancing customer satisfaction and fostering customer loyalty are pivotal for businesses, given the significant importance of improving the balance between customer Attitude (psychology), attitudes before and after the consumption process. Expectation confirmation theory, Expectancy disconfirmation theory is the most widely accepted theoretical framework for explaining customer satisfaction. However, other frameworks, such as equity theory, attribution theory, Contrast theory of meaning, contrast theory, assimilation theory, and various others, are also used to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Retention
Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely. Selling organizations generally attempt to reduce customer defections. Customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship and successful retention efforts take this entire lifecycle into account. A company's ability to attract and retain new customers is related not only to its product or services, but also to the way it services its existing customers, the value the customers actually perceive as a result of utilizing the solutions, and the reputation it creates within and across the marketplace. Successful customer retention involves more than giving the customer what they expect. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Word Of Mouth
Word of mouth is the passing of information from person to person using oral communication, which could be as simple as telling someone the time of day. Storytelling is a common form of word-of-mouth communication where one person tells others a story about a real event or something made up. Oral tradition is cultural material and traditions transmitted by word of mouth through successive generations. Storytelling and oral tradition are forms of word of mouth that play important roles in folklore and mythology. Another example of oral communication is oral history—the recording, preservation and interpretation of historical information, based on the personal experiences and opinions of the speaker. Oral history preservation is the field that deals with the care and upkeep of oral history materials collected by word of mouth, whatever format they may be in. Storytelling Storytelling often involves improvisation or embellishment. Stories or narratives have been shared in every c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust (social Science)
Trust is the belief that another person will do what is expected. It brings with it a willingness for one social entity, party (the trustor) to become vulnerable to another party (the trustee), on the presumption that the trustee will act in ways that benefit the trustor. In addition, the trustor does not have control over the actions of the trustee. Scholars distinguish between generalized trust (also known as social trust), which is the extension of trust to a relatively large circle of unfamiliar others, and particularized trust, which is contingent on a specific situation or a specific relationship. As the trustor is uncertainty, uncertain about the outcome of the trustee's actions, the trustor can only develop and evaluate expectations. Such expectations are formed with a view to the motivations of the trustee, dependent on their characteristics, the situation, and their interaction. The uncertainty stems from the risk of failure or harm to the trustor if the trustee does n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Service Recovery Paradox
The service recovery paradox (SRP) is a situation in which a customer thinks more highly of a company after the company has corrected a problem with their service, compared to how they would regard the company if non-faulty service had been provided. The main reason behind this thinking is that successful recovery of a faulty service increases the assurance and confidence from the customer. For example, a traveller's flight is cancelled. When she calls the airline, they apologise and offer her another flight of her choice on the same day, and a discount voucher against future travel. Under the service recovery paradox, the traveller is now ''happier'' with the airline, and more loyal to it, than she would have been had no problem occurred. Understanding SRP has been an important goal for both researchers and managers, as service failure is one of the main determinants of customer switching behavior and successful recovery from these failures is seen by some as critical for custom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Services Marketing
Services marketing is a specialized branch of marketing which emerged as a separate field of study in the early 1980s, following the recognition that the unique characteristics of Service (economics), services required different strategies compared with the marketing of physical goods. Services marketing typically refers to both business to consumer (B2C) and business-to-business (B2B) services, and includes the marketing of services such as telecommunications services, transportation and distribution services, all types of hospitality, tourism leisure and entertainment services, car rental services, health care services, professional services and trade services. Service marketers often use an expanded marketing mix which consists of the seven Ps: product, price, place, Promotion (marketing), promotion, people, physical evidence and process. A contemporary approach, known as ''service-dominant logic'', argues that the demarcation between products and services that persisted throu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Relationship Management
Customer relationship management (CRM) is a strategic process that organizations use to manage, analyze, and improve their interactions with customers. By leveraging data-driven insights, CRM helps businesses optimize communication, enhance customer satisfaction, and drive sustainable growth. CRM systems compile data from a range of different communication channels, including a company's website, telephone (which many services come with a softphone), email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to better cater to their needs, thus retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Experience
Customer experience, sometimes abbreviated to CX, is the totality of cognitive, affective, sensory, and behavioral responses of a customer during all stages of the consumption process including pre-purchase, consumption, and post-purchase stages. Different dimensions of customer experience include senses, emotions, feelings, perceptions, cognitive evaluations, involvement, memories, as well as spiritual components, and behavioral intentions. The pre-consumption anticipation experience can be described as the amount of pleasure or displeasure received from savoring future events, while the remembered experience is related to a recollection of memories about previous events and experiences of a product or service. Definitions According to Forrester Research (via ''Fast Company)'', the foundational elements of a remarkable customer experience consist of six key disciplines, beginning with strategy, customer understanding, design, measurement, governance and culture. A com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Service
Customer service is the assistance and advice provided by a company to those who buy or use its products or services, either in person or remotely. Customer service is often practiced in a way that reflects the strategies and values of a firm, and levels vary according to the industry. Good quality customer service is usually measured through customer retention. Successful customer service interactions are dependent on employees "who can adjust themselves to the personality of the customer". Customer service for some firms is part of the firm's intangible assets and can differentiate it from others in the industry. One good customer service experience can change the entire perception a customer holds towards the organization. It is expected that AI-based chatbots will significantly impact customer service and call centre roles and will increase productivity substantially. Many organisations have already adopted AI chatbots to improve their customer service experience.Krishnan, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
