Customer defection - Study guides, Class notes & Summaries

Summary of the 2 articles of week 7 of MCEV, for RUG-students. The summarized articles are: Neslin, S. A., Gupta, S., Kamakura, W., Lu, J., & Mason, C. H. (2006). Defection detection: Measuring and understanding the predictive accuracy of customer churn models. Journal of marketing research, 43(2), 204-211. Risselada, H., Verhoef, P. C., & Bijmolt, T. H. (2010). Staying power of churn prediction models. Journal of Interactive Marketing, 24(3), 198-208. Summary of the other weeks are also a...

Customer churn is how rapidly a store can move customers through its checkout facility or process. correct answers False Which of the following is a way for companies to increase customer-perceived value? correct answers increase total customer benefit by improving economic and functional benefits A customer touch point for Abacus Airlines would be an item such as ________. correct answers the reservations desk A company should try to retain a customer only as long as the cost to discou...

Customer Loyalty willingness to continue patronizing firm over the long run Why is building loyalty beneficial for a firm? -retaining "right" customers" -customer loyalty helps beyond purchasing behavior *preference *liking *future intentions *referring other customers -will contribute to the growing volume of firm's business in the future Defector customers who transfer their purchases to another supplier Signals of rising defection rate 1) quality problem 2) competitors offer better val...

FIFO correct answer: First In, First Out. Rotation system that uses the oldest products first Zone of Defection(ZOD) correct answer: When a customer scores you at 1 from 5 Whats the highest and lowest you can get on a Survey? correct answer: 1-5 What will getting a 1 or 2 result in on a survey? correct answer: ZOD What is VOC correct answer: Voice of the Customer What is the temperature for the Walk-In and other fridges? correct answer: 34° F - 38° F What is the tempera...

CSR Exam 3 2023 Questions with All Correct Answers Angry customers - ANSWER customers who become emotional because either their needs are not met or they are dissatisfied with the services or products purchased from an organization, be positive, acknowledge the customers feelings or anger, reassure, remain objective, listen actively and determine the cause, reduce frustrations Customer defection - ANSWER customers often take their business to competitors when they feel...

The understanding that every action must help provide quick and efficient service is known as? - sense of urgency What have customers who come inside or go somewhere else because the drive-thru line looks to long - Defection What is a customer, who thinks they have been waiting much longer than they actually have experienced? - Drive-thru stretch what are tactics and techniques used to keep the drive-thru line moving called? - Drive-thru logic During peak hours of operation, there should ...

FIFO correct answer: First In, First Out. Rotation system that uses the oldest products first Zone of Defection(ZOD) correct answer: When a customer scores you at 1 from 5 Whats the highest and lowest you can get on a Survey? correct answer: 1-5 What will getting a 1 or 2 result in on a survey? correct answer: ZOD What is VOC correct answer: Voice of the Customer What is the temperature for the Walk-In and other fridges? correct answer: 34° F - 38° F What is the tempera...

FIFO -ANSWER First In, First Out. Rotation system that uses the oldest products first Zone of Defection(ZOD) -ANSWER When a customer scores you at 1 from 5 Whats the highest and lowest you can get on a Survey? -ANSWER 1-5 What will getting a 1 or 2 result in on a survey? -ANSWER ZOD What is VOC -ANSWER Voice of the Customer What is the temperature for the Walk-In and other fridges? -ANSWER 34° F - 38° F What is the temperature for the freezer? -ANSWER 0° F - 10° F Wendy...

Chapter 10: Customer Relationship Management (CRM) Exam Questions and answers, rated A+ Organizations find they must continue to identify and develop innovative ways to _________ customer relationships to maintain a competitive advantage. - -add value to According to recent research which of the following is NOT one of the top three reasons for customer defections? - -Customers like to touch and feel the merchandise One reason CRM programs fail is because: - -Firms have diminished eff...

The understanding that every action must help provide quick and efficient service is known as? - sense of urgency What have customers who come inside or go somewhere else because the drive-thru line looks to long - Defection What is a customer, who thinks they have been waiting much longer than they actually have experienced? - Drive-thru stretch what are tactics and techniques used to keep the drive-thru line moving called? - Drive-thru logic During peak hours of operation, there should ...