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Customer review. A customer review is an evaluation of a product or service made by someone who has purchased and used, or had experience with, a product or service. Customer reviews are a form of customer feedback on electronic commerce and online shopping sites. There are also dedicated review sites, some of which use customer reviews as well ...
Customer switching. In marketing and microeconomics, customer switching or consumer switching describes " customers / consumers abandoning a product or service in favor of a competitor ". [1] Assuming constant price, product or service quality, counteracting this behaviour in order to achieve maximal customer retention is the business of ...
Customer data. Customer data or consumer data refers to all personal, behavioural, and demographic data that is collected by marketing companies and departments from their customer base. [1] To some extent, data collection from customers intrudes into customer privacy, the exact limits to the type and amount of data collected need to be regulated.
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 satisfaction goals." [1] Enhancing customer satisfaction and fostering customer loyalty are pivotal for businesses, given the significant importance of ...
Consumer-driven healthcare ( CDHC ), or consumer-driven health plans ( CDHP) refers to a type of health insurance plan that allows employers and/or employees to utilize pretax money to help pay for medical expenses not covered by their health plan. These plans are linked to health savings accounts (HSAs), health reimbursement accounts (HRAs ...
Customer advocacy is a specialized form of customer service in which companies focus on what is deemed to be best for the customer. It is a change in a company's culture that is supported by customer-focused customer service and marketing techniques.
Consumer privacy protection is the use of laws and regulations to protect individuals from privacy loss due to the failures and limitations of corporate customer privacy measures. Corporations may be inclined to share data for commercial advantage and fail to officially recognize it as sensitive to avoid legal liability in the chance that ...
Consumer sovereignty is the economic concept that the consumer has some controlling power over goods that are produced, and that the consumer is the best judge of their own welfare. Consumer sovereignty in production is the controlling power of consumers, versus the holders of scarce resources, in what final products should be produced from ...