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Pancasila economics (Indonesian: Ekonomi Pancasila), also known as "Indonesian populist economics" (Indonesian: Ekonomi kerakyatan Indonesia), is an economic system which aims to reflect the five principles of Pancasila. [1] The term "Pancasila economy" first appeared in an article by Emil Salim in 1967. [2]
Customer service is the assistance and advice provided by a company through phone, online chat, mail, and e-mail to those who buy or use its products or services. Each industry requires different levels of customer service, [1] but towards the end, the idea of a well-performed service is that of increasing revenues.
One definition of a service system is a value coproduction configuration of people, technology, internal and external service systems connected via value propositions, and shared information (language, laws, measures, etc.). The smallest service system is a single person and the largest service system is the world economy.
A customer advocacy policy encompasses all aspects of customer contact, including products, services, sales and complaints. Some examples of a customer advocacy approach are suggesting a product even if the profit margin is less for the company, setting service call appointments based on the customer's (not the company's) preferred hours, or recommending a competitor's product because it is ...
Most modern business theorists see a continuum with pure service on one terminal point and pure commodity good on the other terminal point. [2] Most products fall between these two extremes. For example, a restaurant provides a physical good (the food ), but also provides services in the form of ambience, the setting and clearing of the table, etc.
Service recovery paradox. The service recovery paradox (SRP) is a situation in which a customer thinks more highly of a company after the company has corrected a problem with their service, compared to how they would regard the company if non-faulty service had been provided. The main reason behind this thinking is that successful recovery of a ...
The primary objective of customer success is to ensure customers achieve their desired outcomes with the product or service, consequently leading to improved customer lifetime value (CLTV) for the company. Customer success has become increasingly integral to modern businesses across various industries, with dedicated teams and specialized tools ...
Customer development. Customer development is a formal methodology for building startups and new corporate ventures. It is one of the three parts that make up a lean startup (business model design, customer development, agile engineering). [1] The process assumes that early ventures have untested hypotheses about their business model (who are ...