A discussion on the importance of service recovery and its influence on the profitability of businesses.
Written in 2009; 5,300 words; 37 sources; APA; $ 131.95
Paper Summary:
This paper talks about the mitigation of losses from customer defections through service recovery strategies. Recognizing that no enterprise could possibly alleviate service failures completely, the author discusses the importance of service recovery in customer retention and how this can directly impact any organization's profitability and long-term viability. The paper also analyzes the nature and characteristics of expectations particularly in the service industry and looks at how these expectations can be managed through the service recovery process. This paper includes figures.
Outline:
Abstract
Introduction
Analyzing the Importance of Service Recovery in Successful Relationships
Attribution Theory
Equity Theory and Social Exchange Theory
Confirmation/Disconfirmation Paradigm
Nature and Characteristics of Expectations
Mitigating Service Recovery by Measuring Customer's Expectations
Summary
References
From the Paper:
"From these theoretical foundations, the developments of strategic responses to service recovery are possible to design, implement and monitor over time. Service recovery has progressed as an academic discipline and business practice due to the increasingly commoditized product strategies that rely increasingly on price and service, less on product or services features. In conjunction with the commoditization of products is the increasingly sophisticated use of analytics and lifetime customer metrics."
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