Customer Retention Notes: Definitions & Explanations PDF | Download eBooks
Study Customer Retention lecture notes PDF with total quality management definitions and explanation to study What is Customer Retention?. Study customer retention explanation with TQM terms to review total quality management course for online MBA programs.
Customer Retention Definition:
Customer retention is measured as the percentage of customers who return for more service.
Managing Quality: Integrating the Supply Chain by S. Thomas Foster
Customer Retention Notes:
One of the phase of customer relationship management is customer retention. It involves all the activities which aid in making sure that the customers will return to the business. An organization tries to achieve high customer retention which means that most of its customers will definitely return to buy its products/services and will not think of defecting to another company for similar product or become a non-user completely. Some of the ways of customer retention that an organization adopt are prompt response in resolving issues, keep in touch with the customers, reward loyalty, provide exceptional service etc. Customer retention is important because it is difficult and costly to attract new customers while the cost of retaining old ones is low.
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