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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]
In marketing and microeconomics, customer switching or consumer switching describes "customers/consumers abandoning a product or service in favor of a competitor". [1] Assuming constant price , product or service quality , counteracting this behaviour in order to achieve maximal customer retention is the business of marketing, public relations ...
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 ...
The doctrine of contributory negligence was dominant in U.S. jurisprudence in the 19th and 20th century. [3] The English case Butterfield v.Forrester is generally recognized as the first appearance, although in this case, the judge held the plaintiff's own negligence undermined their argument that the defendant was the proximate cause of the injury. [3]
As a subset of personal injury cases, product liability cases were extraordinarily rare, but it appears that in the few that were brought, the general rule at early common law was probably what modern observers would call no-fault or strict liability. [8] In other words, the plaintiff only needed to prove causation and damages. [8]
"The customer is always right" is a motto or slogan which exhorts service staff to give a high priority to customer satisfaction. It was popularised by pioneering and successful retailers such as Harry Gordon Selfridge, John Wanamaker and Marshall Field. They advocated that customer complaints should be treated seriously so that customers do ...
Market share liability is a legal doctrine that allows a plaintiff to establish a prima facie case against a group of product manufacturers for an injury caused by a product, even when the plaintiff does not know from which defendant the product originated.
'An injury, legally speaking, consists of a wrong done to a person, or, in other words, a violation of his right. It is an ancient maxim, that a damage to one, without an injury in this sense (damnum absque injuria), does not lay the foundation of an action; because, if the act complained of does not violate any of his legal rights, it is ...