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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]
Customer retention is an outcome that is the result of several different antecedents as described below. Customer satisfaction: Research shows that customer satisfaction is a direct driver of customer retention in a wide variety of industries. Despite the claims made by some one-off studies, the bulk of the evidence is unambiguously clear ...
Zero Defects seeks to directly reverse the attitude that the number of mistakes a worker makes doesn't matter since inspectors will catch them before they reach the customer. [ 2 ] : 4 This stands in contrast to activities that affect the worker directly, such as receiving a paycheck in the correct amount.
Quality assurance (QA) is the term used in both manufacturing and service industries to describe the systematic efforts taken to assure that the product(s) delivered to customer(s) meet with the contractual and other agreed upon performance, design, reliability, and maintainability expectations of that customer. The core purpose of Quality ...
The level of customer participation varies from providing simple information to the service provider, to joint-production with the assistance of service staff, to instances where the customer is the sole producer (i.e. self-service). Customer participation focuses on reducing the costs associated with delivering the service product. [23]
Counterproductive work behavior (CWB) is employee's behavior that goes against the legitimate interests of an organization. [1] This behavior can harm the organization, other people within it, and other people and organizations outside it, including employers, other employees, suppliers, clients, patients and citizens.
RFM is a method used for analyzing customer value and segmenting customers which is commonly used in database marketing and direct marketing. It has received particular attention in the retail and professional services industries. [1] RFM stands for the three dimensions: Recency – How recently did the customer purchase?
The Los Angeles Metro Rail is an urban rail transit system serving Los Angeles County, California, United States, consisting of six lines: four light rail lines (the A, C, E and K lines) and two rapid transit lines (the B and D lines), serving a total of 102 stations.