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Service recovery is a strategic approach used by organizations to rectify service failures and restore customer satisfaction. Effective Service recovery not only resolves customer issues but can also enhance customer loyalty and positive word-of-mouth if handled proficiently.
Customer satisfaction is a measure of how well a company's products or services meet or exceed customer expectations, directly impacting customer loyalty and business profitability. It involves understanding customer needs, delivering consistent quality, and actively seeking feedback for continuous improvement.
Customer loyalty refers to the likelihood of customers to continue purchasing from a specific company due to positive experiences, satisfaction, and perceived value. It is a critical driver of long-term business success, as loyal customers tend to spend more, refer others, and are less sensitive to price changes.
Service failure occurs when a service does not meet customer expectations, leading to dissatisfaction and potential loss of loyalty. Understanding and addressing Service failures is crucial for businesses to maintain customer relationships and improve service quality.
Trust building is a dynamic process that involves consistent actions, clear communication, and reliability to foster confidence and safety in relationships. It requires time and effort, as trust is easily broken but difficult to rebuild once damaged.
Expectation-Disconfirmation Theory posits that customer satisfaction is determined by the difference between pre-purchase expectations and actual performance of a product or service. Satisfaction occurs when performance meets or exceeds expectations, while dissatisfaction arises when performance falls short.
Relationship marketing focuses on building and nurturing long-term customer relationships to foster loyalty and repeat business, rather than prioritizing individual sales transactions. It emphasizes customer satisfaction, engagement, and personalized interactions to create a strong emotional connection with the brand.
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