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Concept
Service Recovery
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.
Concept
Customer Satisfaction
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
.
Concept
Customer Loyalty
1
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.
Concept
Service Failure
Service failure
occurs when a service does not meet
customer expectations
, leading to dissatisfaction and potential
loss of loyalty
. Understanding and addressing
Service failure
s is crucial for businesses to maintain
customer relationships
and improve service quality.
Concept
Trust Building
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.
Concept
Customer Experience Management
Customer Experience Management
(CEM) is a
strategic approach
to
managing a company's interactions
with
current and potential customers
, focusing on
enhancing customer satisfaction
and loyalty. It involves
understanding customer needs
, optimizing touchpoints, and using
data-driven insights
to create personalized and
seamless experiences
across
all channels
.
Concept
Expectation-Disconfirmation Theory
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.
Concept
Relationship Marketing
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
.
3