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Describe how a coffee shop could implement a service recovery policy. Give at least one specific example of service recovery in this context.
Price Change
An adjustment in the selling price of a product or service, which can be either an increase or decrease due to various factors like cost, demand, or competition.
Absorption Costing
A method of costing that includes all manufacturing costs, both fixed and variable, in the cost of a product.
Cost-plus Pricing
A pricing strategy where the selling price is determined by adding a specific markup to a product's cost price.
Return on Investment
A measure used to evaluate the efficiency of an investment, calculated as net profit divided by the cost of the investment.
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