Search results
Results from the WOW.Com Content Network
The measurement of customer retention should distinguish between behavioral intentions and actual customer behaviors.The use of behavioral intentions as an indicator of customer retention is based on the premise that intentions are a strong predictor of future behaviors, such that customers who express a stronger repurchase intention toward a brand or firm will also exhibit stronger ...
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]
Renters pay rent until they move out. These are examples of pure customer retention situations where customers are either retained or considered lost for good. In these situations, firms pay close attention to retention rates." [2] Retention Rate: The ratio of the number of customers retained to the number at risk. [2]
- The company has the responsibility to train its employees so they can deal with customer's discontent. - Firms gives compensation if customers have a reason to complain. Switching barriers [10] The company generates barriers to maintain profitability and keep customers. [10] - The customer feels happy and trust the company's products or services.
An alternative motivation theory to Maslow's hierarchy of needs is the motivator-hygiene (Herzberg's) theory. While Maslow's hierarchy implies the addition or removal of the same need stimuli will enhance or detract from the employee's satisfaction, Herzberg's findings indicate that factors garnering job satisfaction are separate from factors leading to poor job satisfaction and employee turnover.
Direct-to-consumer enjoys lower costs compared to physical retail, as it has reduced the number of different business components like employees, purchasing costs, mailing confirmation, and renting or establishing a physical store.
Customer retention; University student retention; Employee retention, the ability to keep employees within an organization; Forced retention; Grade retention, in schools, keeping a student in the same grade for another year (that is, not promoting the student to the next higher grade with their classmates)
Online customer engagement is qualitatively different from offline engagement as the nature of the customer's interactions with a brand, company and other customers differ on the internet. Discussion forums or blogs , for example, are spaces where people can communicate and socialize in ways that cannot be replicated by any offline interactive ...