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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 ...
From the viewpoint of business administration, service quality is an achievement in customer service. [5] It reflects at each service encounter. Customers form service expectations from past experiences, word of mouth and marketing communications. [6] In general, customers compare perceived service with expected service, and if the former falls short of the latter the customers are disappointed.
Customer acquisition cost ( CAC) is the cost of winning a customer to purchase a product or service. As an important unit economic, customer acquisition costs are often related to customer lifetime value (CLV or LTV).
Service level is used in supply-chain management and in inventory management to measure the performance of inventory replenishment policies. Under consideration, from the optimal solution of such a model also the optimal size of back orders can be derived. Unfortunately, this optimization approach requires that the planner knows the optimal ...
Customer equity. Customer equity is the total combined customer lifetime values of all of the company's customers. [1] It is calculated by multiplying the number of customers by the average value of each customer. Customer equity is important because it reflects the potential future revenue that a company can generate from its existing customer ...
eBay office in Toronto, Canada. eBay Inc. ( / ˈiːbeɪ / EE-bay, often stylized as ebay) is an American multinational e-commerce company based in San Jose, California, that brokers customer to customer and retail sales through online marketplaces in 190 markets worldwide. Sales occur either via online auctions or "buy it now" instant sales ...
The service blueprint is an applied process chart which shows the service delivery process from the customer's perspective. The service blueprint is one of the most widely used tools to manage service operations, service design and service .
In telecommunications, a customer-premises equipment or customer-provided equipment ( CPE) is any terminal and associated equipment located at a subscriber's premises and connected with a carrier's telecommunication circuit at the demarcation point ("demarc"). The demarc is a point established in a building or complex to separate customer ...