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Taya2010 [7]
3 years ago
5

Courtney recently ordered a few books online. However, she received the wrong order. She was completely dissatisfied and returne

d the books. She then wrote to the customer service expressing her anger. In response, the manager of the store sent her an apology via e-mail. He also sent her the books she ordered and refunded her money. Courtney was impressed and ordered books only from that store thereafter. In this scenario, the process adopted by the online store to regain Courtney's trust is called _____.
Business
2 answers:
poizon [28]3 years ago
7 0

What Courtney is experiencing in the question is a process called service recovery.

It refers to a paradox where a customer will think highly of a company when the company has fixed the problem that the customer is facing from its service, compared to how the customer would perceive the company when it gives a non-faulty service.

Customer retention is mainly determined by how a company resolves a problem that a customer faces due to a faulty service or product.

Dennis_Churaev [7]3 years ago
5 0

Answer:

Service Recovery.

Explanation:

A service recovery is a process in which the earlier dissatisfied customer becomes highly satisfied after the problem with that customer is being resolved by the company. In this case, such customers are the most loyal ones.

In the mentioned scenario, when manager of the company resolved the issue of the customer, the customer was much impressed and start to order only from the same company.

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Libra Electronics has invented a new technology to make laptops that are extremely lightweight and unbreakable. The company is a
Solnce55 [7]

Answer: Razor and blade strategy

Explanation:

The Razor Blade Model is a model that is used by companies to deeply discount or give away a core product hoping that the consumers will buy the more expensive and complementary dependent products.

The razor and blades business model is a model whereby one item is sold at a cheaper price or sometimes given for free so as to increase the sales of its complementary good. For example, ink catridges are required for inkjet printers and software and accessories are used for game consoles. So, selling ink catridges at a low rate can lead to more sales for inkjet printers.

7 0
3 years ago
The failure to record which transaction has no effect on the quality of inventory?
zimovet [89]

Do not record transactions that do not affect inventory quality. A recorded inventory transaction has actually taken place.

Records of inventory purchases made during the accounting period. The purchase account is increased by direct debit. The manufacturing costs of the goods sold are overestimated by the same amount. An overstatement of cost of goods sold will result in an understatement of net income and retained earnings by the original margin of error.

If the auditor is dissatisfied with the accuracy of the closing balance sheet and may be materially increase.

Inventory write-downs affect both the income statement and the balance sheet. Write-offs are treated as expenses. This means your net income and tax liability will be reduced. Therefore, a decrease in net income will reduce a company's retained earnings and reduce shareholders' equity on the balance sheet.

Learn more about inventory at

brainly.com/question/25887081

#SPJ4

4 0
1 year ago
Which transitional word or phrase would most efficiently increase the cohesiveness of the following sentences?
Yanka [14]

Answer:

however

Explanation:

The best of the transitional word or phrase would most efficiently increase the cohesiveness of the following sentences is ''however''

"The company recorded a 11 percent increase in domestic profits, however the company has not been able to establish much demand in foreign countries."

It shows that although the company is doing well domestically by growing its profits, it has not been able to do so internationally.

4 0
3 years ago
Describe the life cycle of a product and explain profitability and sales volume at each stage
Helga [31]

Answer:

Product Life Cycle: Overview

The product life cycle (PLC) describes a product's life in the market with respect to business/commercial costs and sales measures. It proceeds through multiple phases, involves many professional disciplines and requires many skills, tools and processes.

This is not to say that product lives cannot be extended – there are many good examples of this – but rather, each product has a ‘natural’ life through which it is expected to pass.

The stages of the product life cycle are:

Introduction

Growth

Maturity

Decline

PLC management makes these three assumptions:

Products have a limited life and, thus, every product has a life cycle.

Product sales pass through distinct stages, each of which poses different challenges, problems and opportunities to its parent company.

Products will have different marketing, financing, manufacturing, purchasing and human resource requirements at the various stages of its life cycle.

The product life cycle begins with the introduction stage (see ). Just because a product successfully completes the launch stage and starts its life cycle, the company cannot take its success for granted.

image

Product Development and Product Life Cycle: The Product Life Cycle follows directly after new product development.

A company must succeed at both developing new products and managing them in the face of changing tastes, technologies and competition. A good product manager should find new products to replace those that are in the declining stage of their life cycles; learning how to manage products optimally as they move from one stage to the next.

Product Lifecycle Management Stage 1: Market Introduction

This stage is characterized by a low growth rate of sales as the product is newly launched and consumers may not know much about it. Traditionally, a company usually incurs losses rather than profits during this phase. Especially if the product is new on the market, users may not be aware of its true potential, necessitating widespread information and advertising campaigns through various media.

However, this stage also offers its share of opportunities. For example, there may be less competition. In some instances, a monopoly may be created if the product proves very effective and is in great demand.

Characteristics of the introduction stage are:

High costs due to initial marketing, advertising, distribution and so on.

Sales volumes are low, increasing slowly

There may be little to no competition

Demand must be created through promotion and awareness campaigns

Customers must be prompted to try the product.

Little or no profit is made owing to high costs and low sales volumes

Growth

During the growth stage, the public becomes more aware of the product; as sales and revenues start to increase, profits begin to accrue.

Explanation:

4 0
3 years ago
The cost performance index (CPI): a. can be used to estimate the projected cost of completing the project. b. indicates that the
Evgen [1.6K]

Answer:

The correct answer is letter "A": can be used to estimate the projected cost of completing the project.

Explanation:

The Cost Performance Index or CPI measures the projected cost of work completed compared to the current cost spent. The CPI represents a ratio of earned value to actual cost. If the CPI is greater than one, the project is under budget. When the CPI equals one the planned and actual costs are equal. If the CPI is higher than one, the project is over budget.

3 0
3 years ago
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