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The return policy posted at a Target store. In retail, a product return is the process of a customer taking previously purchased merchandise back to the retailer, and in turn receiving a refund in the original form of payment, exchange.
Customer retention refers to the ability of a company or product to retain its customers over some specified period. [1] High customer retention means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely.
A return is costly for the vendor and inconvenient for the customer; any return that can be prevented benefits both parties. Returned merchandise requires management by the manufacturer after the return. The product has a second life cycle after the return. An important aspect of RMA management is learning from RMA trends to prevent further ...
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Customer satisfaction is a term frequently used in marketing to evaluate customer experience. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products ...
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A customer may or may not also be a consumer, but the two notions are distinct. [8] [1] A customer purchases goods; a consumer uses them. [9] [10] An ultimate customer may be a consumer as well, but just as equally may have purchased items for someone else to consume. An intermediate customer is not a consumer at all.
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