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Product & Service Life Cycles: Definition, Stages & Management

What Is the Product/Service Life Cycle?

❶SLM includes the following vital elements:

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In customer relationship management (CRM), customer life cycle is a term used to explain the stages a customer passes through when considering, purchasing, using, and remaining loyal to a .

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Customer life cycle management is creating, cultivating, and constantly improving your company’s relationship with your clients. It is crucial to implement customer life cycle management in today’s marketplace where the competition is fierce for your customers.

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What is Customer Service Life Cycle? Definition of Customer Service Life Cycle: Serving customers based on a process of four stages: Requirements, Acquisition, Ownership, and Retirement. Many companies are using the approach to harness the Internet to serve the customers. The customer life cycle comes from the practice of CRM where it’s traditionally used to map the different stages a customer goes through from considering a product, service or solution to the actual buy and, at least as important, the post-purchase stages (where customer retention, customer loyalty .

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customer service life cycle In information systems, a model that describes the relationship with a customer as having four phases: requirements, acquisition, ownership, and retirement. 1) A measure of delivery performance of finished goods, usually expressed as a percentage. The Customer-service Life Cycle A Framework for Improving Customer Service throw Information Technology By thinking of customers' use of a product or service as a cycle, hospitality organizations can use the internet and IT to offer better service and create a stronger relationship each step of the way.