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Customer attrition, also known as customer churn, customer turnover, or customer defection, is the loss of clients or customers.. Companies often use customer attrition analysis and customer attrition rates as one of their key business metrics (along with cash flow, EBITDA, etc.) because the cost of retaining an existing customer is far less than the cost of acquiring a new one. [1]
Churn rate (also known as attrition rate, turnover, customer turnover, or customer defection) [1] [2] [3] is a measure of the proportion of individuals or items moving out of a group over a specific period.
Most of the terms listed in glossaries are already defined and explained within itself. However, glossaries like this one are useful for looking up, comparing and reviewing large numbers of terms together. You can help enhance this page by adding new terms or writing definitions for existing ones.
In civil engineering and structural engineering, serviceability refers to the conditions under which a building is still considered useful. Should these limit states be exceeded, a structure that may still be structurally sound would nevertheless be considered unfit.
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors .
Also Abrams' water-cement ratio law. A law which states that the strength of a concrete mix is inversely related to the mass ratio of water to cement. As the water content increases, the strength of the concrete decreases. abrasion The process of scuffing, scratching, wearing down, marring, or rubbing away a substance or substrate. It can be intentionally imposed in a controlled process using ...
A customer's trust in a firm leads to that individual thinking that the firm will provide quality service, which results in the firm gaining a loyal customer. [15] Even in the case of service failures, which decrease customer trust, firms can provide recovery efforts to increase trust and re-gain loyalty. [13] Customer switching Behavior
Some design–build firms employ professionals from both the design and construction sector. Where the design–builder is a general contractor, the designers are typically retained directly by the contractor. Partnership or a joint venture between a design firm and a construction firm may be created on a long-term basis or for one project only.