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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 ...
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 ...
Zero Defects is a management tool aimed at the reduction of defects through prevention. It is directed at motivating people to prevent mistakes by developing a constant, conscious desire to do their job right the first time."
The overall scope of the CLM implementation process encompasses all domains or departments of an organization, which generally brings all sources of static and dynamic data, marketing processes, and value-added services to a unified decision supporting platform through iterative phases of customer acquisition, retention, cross-and upselling ...
PowerPoint for the web is a free lightweight version of Microsoft PowerPoint available as part of Office on the web, which also includes web versions of Microsoft Excel and Microsoft Word. PowerPoint for the web does not support inserting or editing charts, equations, or audio or video stored on your PC, but they are all displayed in the ...
Administrative controls are ranked lower than elimination, substitution, and engineering controls because they do not directly remove or reduce workplace hazards. Instead, they manage workers' exposure by setting rules like limiting work times in contaminated areas. However, these measures have limitations since they don't address the hazard ...
In political science, Allport's work is often juxtaposed with V.O. Key's examination of Southern politics, which found that racism grew in areas where the local concentrations of black Americans were higher. [55] In that context, absent the specific conditions of Allport, contact comes to produce more negative effects, namely increasing prejudice.