Customer Relationship ManagementTU Board 2081
Point out the reasons for lost customers.
2Answer
Customers are lost due to a combination of product/service failures, poor customer service, and external factors. Key reasons include:
- Product/Service Issues: Poor quality, lack of innovation, or unmet promises erode trust.
- Customer Service Failures: Rude staff, slow responses, or poor follow-up frustrate customers.
- Pricing and Value: High costs, hidden fees, or perceived lack of value drive customers to competitors.
- Competitor Attraction: Better offerings, promotions, or superior experiences lure customers away.
- Changing Needs: Shifts in priorities or emerging alternatives reduce loyalty.
- Organizational Failures: Inconsistent policies, lack of transparency, or a damaged reputation push customers to leave. Addressing these systematically strengthens retention strategies.
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