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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 ...
Service quality. Service quality ( SQ ), in its contemporary conceptualisation, is a comparison of perceived expectations (E) of a service with perceived performance (P), giving rise to the equation SQ = P − E. [1] This conceptualistion of service quality has its origins in the expectancy-disconfirmation paradigm. [2]
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). With CAC, any company can gauge how much they’re spending on acquiring each customer.
Amazon Web Services, Inc. ( AWS) is a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments, on a metered, pay-as-you-go basis. Clients will often use this in combination with autoscaling (a process that allows a client to use more computing in times of high application usage ...
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 ...
In business, service rate is a performance metric used to measure the customer service in a supply organization. One example of a service rate measures the number of units filled as a percentage of the total ordered and is known as fill rate. If customer orders total 1000 units, and you can only meet 900 units of that order, your fill rate is 90%.
Customer intelligence ( CI) as part of business intelligence is the process of gathering and analyzing information regarding customers, and their details and activities, to build deeper and more effective customer relationships and improve decision-making by vendors. [1] [verification needed]
A simple way to think about blueprints is as a process chart which consists of inputs, process and outputs. Inputs (raw materials) → Process (transformation) → Outputs (finished goods) Service blueprints include actions and the amount of discretion for varying each step. A service blueprint is always constructed from the customer's perspective.